Following an unsuccessful attempt to acquire the NFL’s Washington Commanders, Jeff Bezos has shifted his focus to one of the leading franchises in the NBA.
The Amazon founder is reportedly interested in purchasing the Boston Celtics, as Bill Simmons mentioned on his podcast Monday. The Grousbeck family is looking to sell the team after their NBA championship victory in June.
“Recently, there has been some genuine buzz regarding Jeff Bezos buying the Celtics, and I believe there’s substance to it. I see him becoming one of the contenders,” Simmons remarked. “This got me wondering, when Bezos considers the Celtics, what does he envision? What motivates him? I think the only justification for this—besides the fact that he has a staggering amount of wealth—is that it’s one of the premier franchises. Acquiring it would be akin to purchasing an illustrious, extravagant $300 million yacht for him. I genuinely believe that he could be in contention for this.”
Jeff Bezos (r.) and fiancée Lauren Sanchez (l.) attend the Sun Valley Media and Technology Conference in Idaho on July 10, 2024. REUTERS
Jayson Tatum (c.) proudly displays the Larry O’Brien Trophy alongside Jaylen Brown (r.) and Kristaps Porzingis (l.) after the Celtics’ NBA championship triumph on June 17, 2024. AP
Simmons further noted that the NBA is aiming for a $6 billion sale price for the Celtics, reflecting the target fee for expansion franchises.
“It’s an outrageous price, but they’re likely to achieve it,” Simmons stated. “The league wants $6 billion because they’re eyeing expansion teams in Seattle and Vegas, with Mexico City also emerging as a potential third team. They intend to secure $6 billion each for the two new franchises, which would result in a $400 million payout for every NBA owner, totaling 30.”
While there were doubts regarding Dan Snyder’s willingness to sell the Commanders to Bezos, the Financial Times reported in June that Bezos was “simply outbid” by Josh Harris, the owner of the Devils and 76ers, who purchased the NFL team for $6.05 billion.
Celtics owner Wyc Grousbeck (r.) celebrates with the Larry O’Brien Trophy alongside wife Emilia Fazzalari (l.) at the ESPYs on July 11, 2024. WireImage
Bill Simmons shares insights during “The Bill Simmons podcast” on Aug. 19, 2024. YouTube/Bill Simmons
On July 1, Celtics ownership revealed its plans to sell the team due to “estate and family planning considerations,” anticipating that a majority sale would transpire this year or early 2025, with the remaining shares sold by 2028.
Earlier this month, The Post reported that Fenway Sports Group has also expressed interest in acquiring the Celtics.
Wyc Grousbeck, who has acted as the team’s governor, overseeing the Celtics on behalf of his father, Irv, intends to maintain his position until the team is completely sold in four years.
“The plan is to divvy up the sale into two stages, with 51 percent being sold fairly soon and the remaining 49 percent closing in a second round. This is the expected timeline for 2028,” Grousbeck told CNBC last month. “I’m anticipating staying on board until 2028. We will hire bankers and advisers, making this quite the competitive bidding process.”
Celtics minority owner Steve Pagliuca will be vying to become the team’s majority owner.
Jeff Bezos Sets Sights on Acquiring the Boston Celtics Amid NBA Ownership Shifts
Overview of the Current NBA Landscape
The NBA has seen significant ownership changes over the past few years, with high-profile investors eyeing franchises as lucrative opportunities. Recently, whispers around the NBA have centered on Jeff Bezos, the founder of Amazon and one of the world’s richest individuals, potentially acquiring the Boston Celtics. This move could set off a chain reaction of ownership shifts in the league.
Why the Boston Celtics?
The Boston Celtics, one of the most storied franchises in NBA history, presents an attractive opportunity for Bezos. The team boasts a rich history, 17 NBA championships, and a passionate fan base. The Celtics’ financial prospects are bright, with lucrative television deals and a dedicated following that ensures consistent revenue streams.
Key Factors Influencing Bezos’s Interest
- Rich History: The Celtics rank among the elite in sports history, attracting attention not just for their past but their marketability.
- Potential for Growth: With the NBA’s global expansion, there are untapped markets that could provide additional revenue for the franchise.
- Technological Integration: Bezos’s expertise in technology could enhance fan engagement through innovative experiences and digital platforms.
Bezos’s Influence in Sports
Jeff Bezos has already made strides in the sports industry through Amazon Prime Video’s broadcasting rights for NFL games. His foray into sports ownership could further amplify his influence, especially in basketball, allowing him to leverage Amazon’s extensive reach.
Benefits of Bezos Acquiring the Celtics
If Bezos successfully acquires the Boston Celtics, several benefits could emerge:
- Increased Revenue Streams: Enhanced merchandising, ticket sales, and digital offerings could significantly boost revenue.
- Innovation in Fan Experience: Integrating Amazon technology could revolutionize how fans interact with the team, from purchasing tickets to game-day experiences.
- Global Brand Expansion: Bezos could capitalize on the Celtics’ international appeal, tapping into new markets and fan bases.
Current NBA Ownership Landscape
As the NBA continues to evolve, ownership structures are changing. Several franchises have recently been sold, and potential buyers are emerging. Here’s a brief overview of recent ownership changes:
| Team | Previous Owner | New Owner | Sale Price | Year Sold |
|---|---|---|---|---|
| Brooklyn Nets | Russian Billionaire Mikhail Prokhorov | Joe Tsai | $2.35 Billion | 2019 |
| Milwaukee Bucks | Herb Kohl | Marc Lasry & Wes Edens | $550 Million | 2014 |
| Los Angeles Clippers | Donald Sterling | Steve Ballmer | $2 Billion | 2014 |
| New Jersey Devils | Jeff Vanderbeek | Josh Harris & David Blitzer | $320 Million | 2013 |
Practical Tips for Potential NBA Investors
For those considering investing in an NBA franchise, including high-profile figures like Bezos, here are some practical tips:
- Conduct Thorough Market Research: Understanding the team’s financial health and brand value is crucial.
- Engage with Current Fans: Assessing fan loyalty and engagement can provide insight into potential growth areas.
- Evaluate Community Impact: Consider how the team fits within the community and local economy.
- Leverage Technology: Explore how technology can enhance operations, fan experiences, and marketing strategies.
Case Studies: Successful Sports Franchise Acquisitions
Looking at successful acquisitions can provide insight into the potential benefits of investing in an NBA team:
Golden State Warriors
In 2010, Joe Lacob and Peter Guber purchased the Golden State Warriors for $450 million. Since then, the franchise has transformed into one of the most valuable teams, worth over $4 billion as of 2021. Their focus on analytics, player development, and fan engagement has paid off significantly.
Boston Red Sox
In 2002, John Henry and his group acquired the Boston Red Sox and Fenway Park for approximately $380 million. This investment has seen the team’s value skyrocket, culminating in multiple World Series titles and significant revenue growth through merchandising and ticket sales.
First-Hand Experience: Insights from NBA Owners
Former NBA players and current owners have unique perspectives on the responsibilities and challenges of ownership:
Mark Cuban (Dallas Mavericks Owner)
Mark Cuban emphasizes the importance of understanding the business side of basketball. He states, “Owning a team means being a part of the community and investing in the players and fans.” His approach has led to increased fan engagement and success on the court.
Kevin Garnett (Former Player, Current Investor)
Kevin Garnett, a former Celtics player, has expressed interest in ownership. He believes that former players bring invaluable experience and understanding of the game. Garnett stresses, “We know what players need to succeed and how to engage fans in a meaningful way.”
Conclusion: What’s Next for Jeff Bezos and the Boston Celtics?
The potential acquisition of the Boston Celtics by Jeff Bezos could redefine NBA ownership. With his unparalleled resources and innovative approach, Bezos may usher in a new era for the franchise, enhancing its legacy while ensuring sustainable growth. As the NBA landscape continues to evolve, all eyes will be on this potential game-changing development.
