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Family Rift Over Payroll Reportedly Led To Decision To Sell Celtics

September 14th, 2024 at 8:32pm CST by Arthur Hill

A family disagreement over the Celtics‘ rising payroll was behind Wyc Grousbeck’s decision to put the majority stake in the team up for sale, sources tell Josh Kosman and Brian Lewis of The New York Post.

Ninety-year-old Irving Grousbeck controls about 20% of the franchise and is unwilling to absorb the projected financial losses that will be necessary to keep the team in title contention, according to Kosman. After winning the championship in June, Boston handed out several new contracts that will bring the total cost of the roster for the 2025/26 season to about $500MM in salary and tax payments.

“That’s what happens when dad puts in most of the money,” a source told Kosman.

Kosman cites another source close to the sale process who says the team is projected to lose about $80MM this season. That amount will be much higher in the following season when repeater tax penalties become harsher.

The Celtics handed out a record-setting contract to Jaylen Brown last summer, and then topped that with a five-year, $314MM super-max extension for Jayson Tatum in July. Jrue Holiday also received an extension and several players were re-signed, pushing the total 2025/26 team salary north of $225MM and setting up a projected $280MM luxury tax payment.

“Wyc says we’ll spend whatever it takes, but dad wasn’t into losing money,” another source told Kosman, who hears that the team barely broke even last season while winning its 18th NBA title.

The Grousbeck family claimed it was unloading its share of the team for “estate planning purposes” when the surprise announcement was made in early July. Wyc Grousbeck reiterated that stance in a statement to Kosman.

“The Grousbeck family is selling the team for estate and family planning considerations. To say the sale is in any way related to losses is completely incorrect,” he stated. “There has not been a capital call from ownership, or any additional investment of any kind, in the 22 years since Boston Basketball Partners bought the team and we don’t anticipate there being one.”

The NBA is hoping to have the Celtics valued at a record-setting $6 billion for the sale, but there are complications in reaching that figure. Sources tell Kosman that the team’s projected losses and the fact that it doesn’t own TD Garden to provide revenue from other events could make prospective buyers reluctant to bid that high.

The Grousbecks are hoping to sell a 51% stake either later this year or early in 2025 and then continue to run the team until the full sale is completed in 2028.

There has been little movement toward a sale in the two-and-a-half months since the Grousbecks announced that the team was available, according to Adam Himmelsbach of The Boston Globe. Banks helping with the transaction are still reviewing the team’s assets and liabilities to provide an accurate report for interested buyers, which Himmelsbach says is typical in this type of transaction.

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Celtics Sign, Waive Jordan Schakel

September 13th, 2024 at 8:31pm CST by Luke Adams

SEPTEMBER 13: The Celtics have waived Schakel, according to NBA’s official transaction log. Schakel’s Exhibit 10 deal includes a $77.5K bonus, which he’ll earn by spending at least 60 days with Maine.

SEPTEMBER 11: The Celtics have signed free agent swingman Jordan Schakel to an Exhibit 10 contract, sources tell Bobby Manning of CelticsBlog.

The move gives Boston a full 21-man offseason roster, with 14 players on standard contracts, three on two-way deals, and four on Exhibit 10 pacts.

A former San Diego State standout, Schakel has spent most of the past three seasons playing in the G League since going undrafted in 2021. He also had brief stints in the NBA with the Wizards in 2021/22 and ’22/23, appearing in six games for Washington during that time, and spent part of this summer playing in Puerto Rico for Leones de Ponce.

Before a knee injury prematurely ended his season, Schakel played for the Maine Celtics in ’23/24, averaging 13.0 points, 5.2 rebounds, and 1.2 assists in 28.1 minutes per game across 24 outings, with a shooting line of .417/.402/.826.

Although the Celtics’ roster is full for the time being, they’ll likely continue to make tweaks before training camp begins next month. Manning notes that the team is expected to sign Jay Scrubb to an Exhibit 10 contract once he fully recovers from ACL surgery.

Players on Exhibit 10 deals who are waived before the season begins are eligible to earn bonuses worth up to $77.5K if they spend at least 60 days with their team’s G League affiliate. That’s likely the plan for Schakel, who figures to return to Maine this fall.

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Celtics Notes: Tatum, Mavs, Camp Questions, Maine Staff

September 13th, 2024 at 3:34pm CST by Rory Maher

Appearing on “The Tonight Show” to promote his children’s book, Celtics star Jayson Tatum made a few predictions about the upcoming season, as Max Molski of NBC Sports Boston relays. Notably, Tatum picked himself to win MVP, and said he thinks the Celtics will return to the NBA Finals again in 2025.

“It’s gonna be a rematch. We’re gonna play Dallas again,” Tatum said.

Boston claimed its 18th championship by defeating the Mavericks in the 2024 Finals. Jaylen Brown was voted Finals MVP.

Here’s more on the Celtics:

  • With an early training camp set to open in under two weeks, Jared Weiss of The Athletic lists five questions facing the defending champions entering 2024/25, including how Tatum and Brown will respond to some minor controversies with Team USA this summer. Weiss also wonders which young players will crack the rotation this season, with Jaden Springer and Baylor Scheierman looking like the top contenders entering camp.
  • Former Wizards player development coach Landon Tatum has joined Boston’s G League affiliate, the Maine Celtics, as an assistant coach, reports Michael Scotto of HoopsHype (via Twitter). Tatum had been with Washington since 2016, Scotto notes.
  • Tatum’s hiring was confirmed in a press release from the Maine Celtics announcing the team’s coaching staff for ’24/25. Tyler Lashbrook, who was a player development assistant on Joe Mazzulla‘s staff last season, has been named Maine’s head coach. “Tyler is a great coach who excels in relationship management and communication,” said Mazzulla. “Last season he led our late game situational prep and took the lead on developing some of our younger players. I am excited for Tyler to have this opportunity to grow as a coach and leader, and to impact the Maine team and community.” Assistant Steve Tchiengang has been promoted to Maine’s associate head coach, while Taaj Ridley is also back for a second season. Tatum and Brendan Baker are the team’s new assistants, per the release.
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Atlantic Notes: Walker, Celtics, Raptors, Brunson, Bridges

September 11th, 2024 at 10:05pm CST by Alex Kirschenbaum

New Celtics Exhibit 10 signee Lonnie Walker IV, who has probably done enough to warrant a roster spot on a rebuilding team this year, is instead looking to prove that he’s worthy of a roster spot with the defending champions in 2024/25, writes Jared Weiss of The Athletic.

Walker is a solid shooter who has enough offensive talent to play in the NBA, but he’ll likely have to show improved defensive awareness to stick in Boston, according to Weiss, who speculates that the veteran wing could serve as a possible roster option in the event second-year swingman Jordan Walsh and rookie guard Baylor Scheierman need further seasoning.

There’s more out of the Atlantic Division:

  • All of the Celtics’ top nine players from their run to the 2024 title are returning for an encore next season. With those champs’ places in the Boston hierarchy more or less set in stone, Chris Forsberg of NBC Sports Boston speculates as to which player will emerge as the club’s 10th man.
  • Appearing on ESPN’s First Take on Wednesday, ex-Raptors forward DeMar DeRozan said he believes his former team still would have won a championship in 2019 if he and Jakob Poeltl had remained on the roster instead of being traded to San Antonio for Kawhi Leonard and Danny Green (Twitter video link). “I felt, off the year we had before, we just needed one more piece to kind of push us over the top, and that piece came to be LeBron (James) going to the West,” DeRozan said. “I didn’t get an opportunity to see what would’ve happened, but I have the utmost confidence within myself. I have no doubt in my mind the same outcome would’ve happened.”
  • Knicks All-NBA point guard Jalen Brunson showed true leadership in agreeing to a below-market contract extension, writes Steve Popper of Newsday. Popper also opines that the team took a major swing in trading for All-Defensive small forward Mikal Bridges this summer, in the hopes that he can help them match the Celtics and the East’s other top clubs. Finally, Popper considers the fate of Julius Randle, a critical piece who has yet to be locked up beyond 2025, leaving his long-term future in doubt.
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Silver: League Still Isn’t Ready To Tackle Expansion

September 10th, 2024 at 6:20pm CST by Dana Gauruder

The league isn’t quite ready to explore expansion talks, NBA commissioner Adam Silver revealed during a Tuesday press conference. Silver addressed the media after the league’s Board of Governors meeting.

“There was not a lot of discussion in this meeting about expansion, but only largely not for lack of interest, it was that we had said to them that we’re not quite ready,” Silver said, per ESPN’s Tim Bontemps. “It was something that we told our board we plan to address this season, and we’re not quite ready yet. But I think there’s certainly interest in the process, and I think that we’re not there yet in terms of having made any specific decisions about markets or even frankly to expand.”

Expansion has been put off while the league negotiated a new Collective Bargaining Agreement and reached new broadcast deals. With those items in the rear view mirror, the league could eventually discuss expansion in the coming months. The first step in that process, according to Bontemps, would be forming a committee of several owners to explore the topic and determine what the next steps would be.

Here’s more from Silver’s press conference and the BOG meeting:

  • The commissioner would prefer that legalized sports betting had a “federal framework,” rather than being a state competition with varying rules. “I was in favor of a federal framework for sports betting. I still am,” he said. “I still think that the hodgepodge of state by state, it makes it more difficult for the league to administer it. I think it creates competition, understandably, among states to get — just think New York, New Jersey or a situation like that where you’re both competing for the same customer, so you can compete on tax rates and other things and a regulatory framework.”
  • The league is essentially in wait-and-see mode regarding the potential sales of two franchises, the Timberwolves and the Celtics, according to The Associated Press’ Tim Reynolds. Minnesota’s dispute between current majority owner Glen Taylor and potential majority owners Marc Lore and Alex Rodriguez is headed to arbitration. “That’s a process that exists independent of the league that was set out in the sales agreement,” Silver said. Boston’s ownership group, led by Wyc Grousbeck, intends to sell the majority of its shares later this year or early next year, then close on a sale of the balance of remaining shares in 2028. “I think that Wyc Grousbeck and his ownership group are in the process of working through what the steps will be,” Silver said.
  • Raptors Governor and Chairman of Maple Leaf Sports & Entertainment Larry Tanenbaum has been re-elected as the Board’s chairman, NBA Communications tweets. Tanenbaum has served in that role since 2017.
  • The league could have a national streaming RSN platform as soon as the 2025/26 season, according to the Sports Business Journal’s Tom Friend. Numerous teams were affected Diamond Sports bankruptcy proceedings. Diamond is the parent company of Bally Sports. “I think coming out of this, when we look at the interest of streaming services to carry local games and all the additional functionality that will come to that, there will be a transition and transition for our viewers, as well, in terms of how they discover those games and how they watch them, that I think the end result will be a much better consumer experience,” Silver said.
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Atlantic Notes: Barrett, Raptors, Yabusele, Springer

September 7th, 2024 at 8:31pm CST by Arthur Hill

RJ Barrett enjoyed his time with the Knicks, but he tells David Stol of Sharp Magazine that the chance to play for the Raptors in the city where he lived as a child is “a literal dream come true.” Barrett’s homecoming occurred last December when New York sent him to Toronto as part of a five-player trade involving OG Anunoby.

“I grew up with my dad taking me to games,” Barrett said. “[…] When I found out I was coming home, I didn’t know how to act. I was pinching myself and telling my people, ‘We’re really here. We’re playing for the Toronto Raptors.’”

Barrett became the focus of the Raptors’ offense after the deal, averaging a career-high 21.8 PPG in 32 games. He’s looking forward to his first training camp with the team and seeing what he can accomplish in a full season. He also has fond memories of his years in New York, where he helped to turn around a floundering franchise after being selected with the third pick in the 2019 draft.

“I think people forget that we really built something there,” he said. “When I arrived, we weren’t contending. We weren’t close, really. My sophomore year, we made the playoffs. Then, we just kept building. We gave the fans something to cheer for. And they deserve it, man. It’s a tough city but you earn their love. I’m glad we got there for them.”

There’s more from the Atlantic Division:

  • Not much is being expected from the Raptors as they look ahead to their 30th season, notes Ryan Wolstat of The Toronto Sun. A lack of star power will likely limit Toronto to a play-in tournament spot at best, Wolstat adds, as Washington and Brooklyn are the only Eastern rivals that appear to be significantly worse. Wolstat also cites a difficult early schedule, with 22 of the first 25 games against teams coming off postseason appearances.
  • Guerschon Yabusele is probably in a better spot with the Sixers than he would have been if he had tried to return to the Celtics, Brian Robb of MassLive states in a mailbag column. Yabusele signed a one-year deal with Philadelphia last month after a standout performance with France in the Olympics. Robb points out that his main competition for playing time as the backup power forward to Caleb Martin will be KJ Martin and Ricky Council. Robb also suggests the Celtics may have been more interested in Yabusele if they hadn’t reached new deals with backup big men Luke Kornet, Neemias Queta and Xavier Tillman.
  • Jaden Springer is eligible for a rookie scale extension through October 21, but sources tell Robb that the Celtics aren’t likely to consider a new deal until the fourth-year guard has played a full season with the team.
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2024/25 NBA Over/Unders: Atlantic Division

September 4th, 2024 at 9:18am CST by Luke Adams

With the 2024/25 NBA regular season set to tip off next month, we’re getting serious about predictions for the upcoming campaign and continuing an annual Hoops Rumors tradition.

With the help of the lines from a series of sports betting sites – including Bovada and BetOnline – we’re running through the predicted win totals for each of the NBA’s 30 teams, by division. In a series of team-by-team polls, you’ll get the chance to weigh in on whether you think those forecasts are too optimistic or too pessimistic.

In 2023/24, our voters went 16-14 on their over/under picks. Can you top that in ’24/25?

We’ll begin our series today with the Atlantic Division…

Boston Celtics

New York Knicks

Philadelphia 76ers

Toronto Raptors

Brooklyn Nets

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Teams Limited To Minimum Salary Contract Offers

September 3rd, 2024 at 7:57am CST by Luke Adams

There won’t be a ton of free agents who sign for more than the veteran’s minimum between now and the end of the NBA’s regular season. The majority of the players whose markets exceeded the minimum came off the board pretty quickly in July, and teams aren’t looking to spend big on the players who are still available.

Still, that certainly doesn’t mean every signing for the next seven months will be of the minimum-salary variety. In some cases – especially on the buyout market in February – being able to offer a couple million dollars more than the minimum could be the difference between a team landing a free agent and missing out on him.

With that in mind, it’s worth checking in on which teams don’t currently have the ability to offer more than the minimum. By our count, a third of the NBA is in this boat, though some of those clubs could generate some spending flexibility by making cost-cutting trades.

Here’s a breakdown of the teams currently limited to minimum-salary contract offers for free agents:

Teams above the second tax apron:

  • Boston Celtics
  • Milwaukee Bucks
  • Minnesota Timberwolves
  • Phoenix Suns

Teams operating above the second tax apron, which comes in at $188,931,000 in 2024/25, face a series of roster-building restrictions, including being prohibited from using any form of the mid-level exception, as well as the bi-annual exception.

The Celtics, Bucks, Timberwolves, and Suns all fall into that group of teams above the second apron and therefore don’t have any cap exceptions available to use on free agents besides the minimum salary exception.

Teams very close to the second tax apron:

  • Los Angeles Lakers
  • Miami Heat

Because their team salaries are below the second apron, the Lakers and Heat each technically have the ability to use their taxpayer mid-level exception, which is worth $5,168,000 this season.

However, both clubs are operating so close to the second apron that using any portion of the taxpayer MLE would push team salary above that threshold, which isn’t permitted — a team that uses the taxpayer MLE can’t have a salary above the second apron upon the completion of the signing (or at any time after that).

Therefore, unless they make a move to shed salary, the Lakers and Heat will be limited to minimum-salary signings from here on out.

Over-the-cap teams that have used all their cap exceptions:

  • Denver Nuggets
  • Philadelphia 76ers

The Nuggets are currently operating between the first and second tax aprons and have already used their taxpayer mid-level exception to sign Dario Saric. Because the bi-annual exception isn’t available to teams above the first apron, Denver can no longer offer more than the veteran’s minimum.

The Sixers, meanwhile, used their entire room exception to re-sign Kelly Oubre after spending all their cap space. They’re now well over the cap and only have the minimum salary exception left to sign a free agent outright.

It’s worth noting that acquiring a player via sign-and-trade is technically a possibility prior to opening night for teams who have used up all their cap exceptions and want to add a free agent for more than the minimum. However, that’s not currently a practical option for either Denver or Philadelphia, who are both above the first tax apron.

Teams right up against their hard caps:

  • Dallas Mavericks
  • Golden State Warriors

The Mavericks have about $4.25MM of their mid-level exception still available after using a portion of it to sign Naji Marshall, and both Dallas and Golden State still have their full bi-annual exceptions on hand.

Based on the roster moves they’ve made so far this summer though, both the Mavs and Warriors are hard-capped at the first apron of $178,132,000 and are less than $1MM away from that hard cap. In other words, unless they shed salary by trading or waiving one or more of their current players, those two teams aren’t just prohibited from using their remaining exceptions — they’re also unable to add another minimum-salary player on a standard contract.

Dallas and Golden State are each carrying at least one player with a non-guaranteed salary, so it would technically be possible for, say, the Mavs to cut A.J. Lawson and then use a portion of their mid-level exception to sign a free agent. However, their breathing room below the hard cap is so limited that any signings above the minimum are unlikely, unless a cost-cutting trade generates more flexibility — the same goes for the Warriors.

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Community Shootaround: Who Can Take Down Boston In The East?

September 1st, 2024 at 4:29pm CST by Alex Kirschenbaum

The Celtics seem well-positioned to repeat as NBA champions in 2024/25.

After posting a league-best 64-18 regular season record, Boston blitzed the competition in the playoffs, going 16-3 en route to the franchise’s record 18th championship.

The reigning champs have retained all of their top rotation pieces, extending Jayson Tatum, Derrick White, and Sam Hauser this summer. In fact, 12 of Boston’s top 13 players from its 2023/24 vintage are back on this year’s roster. The only exception? Free agent forward Oshae Brissett has yet to sign anywhere, but has alluded to a possible Celtics return.

With a focus on vanquishing Boston, several other Eastern Conference contenders retooled significantly during the offseason.

The Sixers are of course the headliners of the offseason, having almost completely reconfigured their roster around incumbent All-Stars Joel Embiid and Tyrese Maxey. Although Paul George was the big addition on a four-year, $211.6MM deal, Philadelphia president Daryl Morey also made some savvy role player signings, including forward Caleb Martin. But both Embiid and George have had some uniquely underwhelming postseason performances in recent years, and both are on the wrong side of 30 with growing injury histories. Can they keep it together in the playoffs when it matters most?

Last year’s No. 2 seed, the Knicks, saw their playoff run hampered by escalating injuries to much of their rotation. Although New York lost starting center Isaiah Hartenstein to the Thunder in free agency, the team made its own splash with a blockbuster trade for former All-Defensive swingman Mikal Bridges, acquiring him from the Nets.

Despite frequent trade rumors, the biggest offseason change for Cavaliers happened on their bench. Cleveland president Koby Altman jettisoned now-former head coach J.B. Bickerstaff after two consecutive playoff seasons as a top-four seed, replacing him with former Warriors assistant Kenny Atkinson. The team is hoping for internal development from its four stars and more cohesion out of its other pieces.

As the No. 3 seed heading into the playoffs, the Bucks may have been upset by an Eastern Conference Finals-bound Pacers squad in the first round. But Milwaukee has a key asset Indiana does not: All-NBA power forward Giannis Antetokounmpo, still very much in his prime. After trading to acquire All-Star point guard Damian Lillard late in the 2023 offseason, Milwaukee struggled to build out its depth around a pricey top six and underwent a mid-season coaching change. This year, however, the Bucks added several ring-chasing veterans on below-market deals. Will it be enough to get them deep into the playoffs again?

Indiana, to its credit, played the hand it was dealt, riding some injury luck to its first East Finals appearance in a decade. After an underwhelming Olympics run, wherein he did not play in Team USA’s gold medal game, could All-NBA point guard Tyrese Haliburton be due for a leap? Could newly re-signed forward Pascal Siakam develop more chemistry with the team’s longer-tenured stars after his first full offseason in Indiana?

We want to know what you think. Can anyone among the aforementioned crop best Boston and emerge out of the East? Will a spoiler with present talent and the assets to make a trade — perhaps the Magic or Heat — make a surprise run? Weigh in with your thoughts in the comments section below.

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Celtics Notes: Holiday, Walker, Bench, Front Office

August 31st, 2024 at 5:30pm CST by Arthur Hill

Celtics guard Jrue Holiday is one of the NBA’s most accomplished players, but even he was impressed by the amount of talent on the U.S. Olympic team, writes Souichi Terada of MassLive. Holiday, who has two gold medals and two NBA titles in the past four years, said this year’s Olympics was especially memorable because of the quality of the players involved.

“Those are some of the best players in the world,” he said. “It was fun to go out there and play. Devin Booker, the way that he played, kind of how you play off each other with him is pretty easy. I think Steph Curry is just different, I mean, one of the best players in the world. So to go out there and be his teammate for the first time ever was cool, too. It was an amazing experience. Played with some legends and against some legends, and again, brought back some gold.”

The offseason is nearly over for Holiday and his teammates, who will report to training camp in a few weeks to begin the process of defending their title. The summer has gone by quickly, as Holiday said his memories are still fresh from Boston’s championship celebration in June.

“The medal in Paris was cool, it was obviously against France, so it was kind of literally us against the world,” he said. “But winning here was amazing. I’m not sure anything tops that. To be able to win here in Boston, Game 5, the crowd, the (halfcourt) shot Payton (Pritchard) hit. It was all just so overwhelming that was amazing. Then the parade was crazy, too. I still feel like I’m still on a high with everything going on.”

There’s more from Boston:

  • After signing an Exhibit 10 deal, Lonnie Walker IV is hoping to win a roster spot in camp just like he did last year on a veteran’s minimum contract in Brooklyn, Terada adds in a separate story. Terada calls the signing a low-risk move for the Celtics and points out that Walker is only 25 even though he has six years of NBA experience. Walker could provide depth at shooting guard behind Pritchard if he makes the team, or he could wind up with Boston’s G League affiliate in Maine.
  • Playing time for Boston’s bench appears to be unsettled behind Pritchard and Sam Hauser, Brian Robb of MassLive states in a mailbag column. Walker will be given a chance to earn a reserve role, but he’ll have to outperform midseason acquisition Jaden Springer and rookie Baylor Scheierman in training camp.
  • In the same piece, Robb gives Boston’s front office an A for how it handled this summer. The roster of last season’s title team returns nearly intact, and big men Luke Kornet, Xavier Tillman, and Neemias Queta were retained on club-friendly contracts.
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