The 2024 champions Boston Celtics finally earned their 17th banner, as they’re tied with the Lakers for most titles. As great of an achievement as this is, it comes with greater consequences. The whole core of the team has performed greatly, which translates to an increase in their value. Derrick White recently signed a four-year $125.9 million extension. Other than that, Jayson Tatum, the face of the Celtics alongside Jaylen Brown, is yet to receive his max extension. How much? Well, JT will be expecting a five-year super-max deal this summer.
However, the Celtics can only pay much after the introduction of the second apron. Things are getting worse in the front office, as the majority ownership group, led by Wyc Grousbeck is planning to make the franchise available for sale. To put it into perspective, the best five players on the team, including Tatum, Brown, White, Holiday, and Porzingis are set to make an estimated $181.4 million combined this upcoming season.
BREAKING: The Boston Celtics majority ownership group — led by Wyc Grousbeck — is planning to make the franchise available for sale, sources tell ESPN. The investment group purchased the team in 2002. Massive development for one of sports’ most valuable properties. pic.twitter.com/ICixdcJtLF
— Adrian Wojnarowski (@wojespn) July 1, 2024
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Following Tatum’s extension, the Celtics’ payroll is projected to be around $225 million, which is well above the second apron. After adding the taxes, the franchise’s payroll can increase up to $450 million. Not only that, but prior to the 2025-26 season, the luxury rates will be set to increase.
The potential plan to make the franchise available for sale doesn’t need an explanation, especially after the upcoming expansion for Tatum. In the recent statement released by the Celtics, the ownership group intends to sell the majority interest this year or early 2025. Also, Wyc Grousbeck will remain the governor of the team till the second closing in 2028. The future of the franchise is concerning. Most of the players have performed extremely well, and their value has increased accordingly. But how can the Celtics control their payroll?
What’s next for the Boston Celtics?
As of now, the franchise’s future is in question regarding the current scenario. However, it’s tough to predict what the next move will be. The future majority owners of the Celtics will also face similar issues and even more problems with the upcoming final phase of CBA.
Yes, the Association has placed some serious restrictions on teams who stand above the luxury tax limit. While the Celtics are on track to record the most expensive payroll in league history, they might waive off certain players.
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The Celtics have a bright future ahead with their star players as well as other contributors. It would be worse to see this franchise fall off due to new restrictions and growing demands of the luxury tax rates. It will be interesting to see what plays out for the Celtics this summer. What are your thoughts on the majority owners selling their interests? Do you think the franchise will have to waive its players? Let us know in the comments.
Stay tuned for more such updates, and to follow what brand maker, Leonard Armato, had to say about the deadly duo, Shaq and Kobe, check out this exclusive video by EssentiallySports.
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Is the Celtics' winning legacy at risk if the team gets sold? What do you think?
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