It looks like the Boston Celtics are set to change hands, and this sale could pave the way for NBA expansion that many fans have been eagerly anticipating. A group spearheaded by private equity mogul Bill Chisholm has agreed to buy the Celtics for a staggering $6.1 billion – marking a historic high for any sports franchise in North America, despite the fact that the Celtics don’t even have ownership of their own arena.
This monumental deal has major implications not just for the Celtics, but for the NBA landscape as a whole. Many insiders believe that league owners were holding off on discussions about expansion until this deal set the market valuation. It’s a pivotal moment; one that might just open the floodgates for new franchises, especially given the projected expansion fees potentially hitting between $4 to $5 billion based on the Celtics’ valuation.
An interesting wrinkle in all of this concerns Kraken owner Samantha Holloway, whose late father, David Bonderman, formerly held a stake in the Celtics. The NBA has rules that prevent ownership in multiple franchises simultaneously, which creates a unique opportunity for Holloway and Seattle in this unfolding narrative.
While the deal is contingent upon league approval and vetting, NBA owners are slated to meet next week to discuss this significant transaction along with the ongoing complexities involving the Minnesota Timberwolves. However, there’s a hint of caution here; it seems unlikely that expansion will be on the immediate agenda for that meeting, according to multiple sources.
Still, anticipation is building. Back in September, NBA Commissioner Adam Silver hinted during an interview that the league would tackle expansion “this season.” With whispers of extending NBA franchises into Europe, it seems the conversation around expansion is heating up.
Seattle, in particular, has been quietly laying the groundwork for a potential return of the NBA. Fans are preserving all the original Seattle SuperSonics banners, trophies, and artifacts, which signifies a deep-rooted hope that the NBA will once again find its way back to the Emerald City.
The last expansion for the NBA came in 2002, introducing the then-Charlotte Bobcats, who hit the court in 2004. Fast forward to now, and with the Celtics’ sale, the winds of change are blowing through the league. The excitement for what’s next is palpable; fans are watching attentively as this significant chapter in NBA history unfolds.
