The Boston Celtics, one of the most iconic and successful franchises in the National Basketball Association (NBA), are owned by the Boston Basketball Partners LLC, a private ownership group. This group, made up of several investors, has held majority ownership of the team since 2002.
Let’s dive into the details of who owns the Celtics, the key people behind the ownership group, and how they have influenced the franchise.
Who Are the Current Owners of the Boston Celtics?
The Boston Basketball Partners LLC is the ownership group that controls the Boston Celtics. The group was formed in 2002 when they purchased the team for $360 million from the previous owner, Paul Gaston. The group is led by two principal owners:
- Wyc Grousbeck – Lead Owner, Governor, and CEO
- Steve Pagliuca – Co-Owner and Managing Partner
These two businessmen, along with several minority investors, are responsible for the team’s management and long-term strategic decisions.
Key Figures in Boston Celtics Ownership
1. Wyc Grousbeck – Lead Owner, Governor, and CEO
- Full Name: Wycliffe “Wyc” K. Grousbeck
- Role: Governor and CEO of the Boston Celtics
- Ownership Stake: Grousbeck is the primary figure representing the ownership group and holds a significant stake in the team.
- Background:
- Wyc Grousbeck is a venture capitalist and former partner at Highland Capital Partners, a private equity firm.
- He led the acquisition of the Celtics in 2002, forming the Boston Basketball Partners LLC.
- Under his leadership, the Celtics have seen substantial success, including the 2008 NBA Championship, the team’s first title in 22 years.
- Grousbeck has been a vocal supporter of expanding the Celtics’ reach through both business ventures and community involvement.
2. Steve Pagliuca – Co-Owner and Managing Partner
- Role: Co-owner, managing partner, and chairman of the Boston Celtics Shamrock Foundation
- Ownership Stake: A major investor in the team, alongside Grousbeck.
- Background:
- Pagliuca is a private equity investor and co-chairman of Bain Capital, one of the largest investment firms in the world.
- He played a significant role in the Celtics’ financial and operational decisions, helping increase the team’s value significantly.
- Pagliuca was also a Democratic candidate for Massachusetts governor in 2009 and remains involved in political and philanthropic efforts.
3. Robert Epstein and David Epstein – Minority Owners
- The Epstein brothers were part of the Boston Basketball Partners group that acquired the team in 2002.
- Though they are not the public faces of the ownership group, they hold minority stakes in the team and have been involved in its business operations.
4. Jim Pallotta – Former Minority Owner
- Jim Pallotta, a hedge fund manager, was part of the original ownership group.
- He sold his stake in the team in 2015 to focus on his investment in AS Roma, the Italian soccer club.
How the Ownership Group Influences the Team
Since acquiring the Boston Celtics, Boston Basketball Partners LLC has transformed the franchise into one of the NBA’s most valuable teams. Their influence can be seen in several areas:
- On-Court Success:
- The ownership group has been committed to building a winning team.
- They spearheaded the Kevin Garnett, Ray Allen, and Paul Pierce acquisitions, which led to the 2008 NBA Championship.
- In recent years, they have supported the development of rising stars like Jayson Tatum and Jaylen Brown, contributing to the team’s ongoing competitiveness.
- Financial Growth:
- When the group purchased the team in 2002, the Celtics were valued at $360 million.
- As of 2024, the franchise is worth over $4 billion, making it one of the most valuable teams in the NBA.
- Fan and Community Engagement:
- The ownership group has invested heavily in community programs, including the Boston Celtics Shamrock Foundation, which supports children in need.
- The team has also expanded its digital and social media presence, engaging with fans around the world.
The History of Boston Celtics Ownership
Before Boston Basketball Partners LLC acquired the team, the Celtics were owned by Paul Gaston, who inherited the team from his father, Don Gaston, in 1992.
- Don Gaston Era:
- The Gaston family purchased the Celtics in 1983 as part of a group that included Alan N. Cohen and Stephen P. Lewinstein.
- During this era, the team won two NBA championships (1984 and 1986), led by Larry Bird, Kevin McHale, and Robert Parish.
- Paul Gaston Era:
- Paul Gaston took over ownership after his father’s death in 1992.
- The Celtics struggled under his leadership, both financially and competitively.
- Gaston eventually sold the team in 2002 to Boston Basketball Partners LLC.
How Much Is the Boston Celtics Worth?
As of 2024, the Boston Celtics are valued at approximately $4.7 billion, making them the fifth most valuable NBA team. Their value has grown significantly under the ownership of Boston Basketball Partners LLC, thanks to:
- Increased TV deals
- Sponsorship agreements
- Strong on-court performances
- Merchandising and branding efforts
Conclusion: Who Owns the Boston Celtics?
The Boston Celtics are owned by Boston Basketball Partners LLC, a private ownership group formed in 2002. The group is led by Wyc Grousbeck, the lead owner and CEO, and Steve Pagliuca, the co-owner and managing partner.
Together, they have transformed the team into a financial powerhouse and a consistent contender in the NBA. The ownership group’s commitment to winning, financial growth, and community engagement has made the Celtics one of the most valuable and respected franchises in professional sports.