Golden State Warriors owner Joe Lacob, a Massachusetts native and former Boston Celtics minority owner, said in a recent interview that he has no interest in trying to buy his hometown team, which was put up for sale earlier this summer.
Lacob was a minority owner of the Celtics from 2006 until 2010, when he left to buy the Warriors for $450 million. In the 14 years since then, he has turned Golden State into one of the league’s premier organizations and has overseen four championships. He wants to continue building his legacy in the Bay Area rather than return to the Bay State.
“No chance,” Lacob told David Aldridge and Marcus Thompson on “The Athletic NBA Show”. “No chance, sorry. That ship sailed a long time ago — a long, long time ago. I’m a Warrior, this is my identity, it’s our identity. I love what we’ve done. I love our fans, our arena (and) the last decade, and I just wanna do more. I just wanna create an even longer and even greater legacy for this organization.”
Just weeks after the Celtics defeated the Dallas Mavericks to win the franchise’s record-setting 18th championship, the team released a statement regarding its planned sale:
“Boston Basketball Partners L.L.C., the ownership group of the Boston Celtics, announced today its intention to sell all the shares of the team. The controlling family of the ownership group, after considerable thought and internal discussion, has decided to sell the team for estate and family planning considerations.
“The managing board of the ownership group expects to sell a majority interest in 2024 or early 2025, with the balance closing in 2028, and expects Wyc Grousbeck to remain as the Governor of the team until the second closing in 2028.”
NBA franchise values have skyrocketed in recent years, and Forbes’ most recent valuation in October of 2023 had the Celtics at $4.8 billion. When Grousbeck and his group purchased the team back in 2002, they did so for $360 million. That is certainly one reason for Grousbeck and Co. to get out.
Another is the Celtics’ impending…
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