Celtics owner Wyc Grousbeck (above) has now started an elongated path to part ways with the NBA team, but he still has ambitions to set more records in his final chapter with the franchise. 

Speaking on CNBC, Grousbeck said he intends to set a new sports industry record with the recently started sale process for the NBA champion Celtics. Such a mark, at least within basketball, likely, as the current league mark for a full-team deal is Mat Ishbia’s $4 billion purchase of the Suns, and the Celtics were previously estimated at $4.7 billion—even before the team’s latest title and the arrival of the NBA’s new national TV rights agreements. 

The higher target would be the $6.05 billion that the NFL’s Commanders garnered last year in the Josh Harris–led deal.

“I haven’t thought much about [it] going forward, but I am a competitive guy—why not?” Grousbeck said of surpassing the Commanders’ number. “I mean, if you’re going to keep score, keep score on everything.”

A key component of Grousbeck’s confidence is the rarity of a franchise such as the Celtics hitting the market at such a competitive high point, instead of a more typical timing during a rebuilding effort.

“I would think there’d be interest, because people would be able to start being involved in something that is at the top of the world, not the bottom,” he said.

Sales Factors

Among the key points also detailed by Grousbeck in his first comments since announcing the team would be going on the market: 

• He envisions a two-stage sale of the team. The first chunk, the 51% controlled by the Grousbeck family, will be sold “fairly soon,” while the remaining 49% held by other partners is targeted for a separate, later transaction. Grousbeck intends to remain the Celtics’ governor until 2028. 
• Estate planning indeed is at the root of the decision to sell. Grousbeck’s ownership of the Celtics is in combination with his family, including his father, Irving. “It’s a family I belong to, and then I have the Celtics family I also belong to, so there’s an intersection and involvement,” he said. “So there’s been discussions and thoughts about estate planning and family planning.”
• He welcomes interest from Steve Pagliuca in buying a majority share. Pagliuca, a prominent team minority owner, quickly said following the sale announcement that he is interested in mounting a bid for control of the team.

“Steve has been a terrific lead partner and lead co-owner, I would say, in many ways,” Grousbeck said. “Steve has been great, and is a great person, and we welcome [him], obviously, for sure, in the bidding process.”

The Big 12 kicked off its first football media days as a 16-team conference Tuesday in Las Vegas, marking the start of a new era under commissioner Brett Yormark (above). 

It was 24 months ago, as uncertainty around conference realignment clouded college sports, that Yormark in his first media days as commissioner declared the Big 12 was “open for business.” He followed through on that statement, and the conference eventually added Arizona, Arizona State, Colorado, and Utah, while bluebloods Oklahoma and Texas left for the SEC. 

Now, the Big 12 is leading more change within college sports, with Yormark confirming the conference’s groundbreaking interest in striking a deal for a private equity investment and changing the league’s name. “From a conference perspective, we are exploring all options,” Yormark said Tuesday from Allegiant Stadium. “Two years later, I guess you could say we’re still open for business. Naming rights is one. Private equity is another.”

Private Equity Money

When asked specifically about private equity, Yormark didn’t shy away from the need for more funding. “I do believe that given where we are—the industry—having a capital resource as a partner makes a ton of sense,” he said. And with more private equity money flowing into professional sports (which could include the NFL soon), Yormark predicts it’s only a matter of time until college sports is next. 

But it’s not as simple as writing a check and moving on. “A structure and a model of what that looks like is going to be critically important so that we’re not compromising the long-term future of the conference,” he said.

Playing Across the Border

Yormark also touched on the recent $2.7 billion settlement that the NCAA and Power 5 conferences agreed to, which could ultimately lead to revenue sharing with players. “The settlement provides a very crystal-clear future and path forward for our industry,” he said. “It provides incredibly enhanced benefits for our student-athletes.”

Meanwhile, Yormark announced the Big 12 is once again making changes to its plans to expand into Mexico. After delaying the initiative to 2025 that was supposed to kick off with basketball games in Mexico City this December, Yormark said the conference is pivoting to exploring baseball and women’s soccer games in the country.