Mark Bezos Rumors | Hoops Rumors

Celtics Reportedly Expect 4-5 Initial Ownership Bids

January 19th, 2025 at 9:49am CST by Rory Maher

The Celtics are expecting to receive a minimum of four ownership bids from prospective investment groups when the first round of the sale process closes on January 23, a source with direct knowledge of the process tells Michael Silverman of The Boston Globe (subscription required). A fifth bid is also a possibility, Silverman reports.

Current co-owner Steve Pagliuca is spearheading a consortium that will be making a bid, according to Silverman, but the identities of the control heads for the other groups remain a mystery, at least for now. Another current minority stakeholder, Robert Hale, expressed interest in becoming majority owner or joining a group in October, and he told Silverman he’s “still hanging around the hoop.”

Fenway Sports Group and Mark Bezos are reportedly among the other potential bidders. The founding partner of HighPost Capital private equity group, Bezos is the half-brother of Amazon founder Jeff Bezos.

The Grousbeck family announced on July 1 that it was putting the team up for sale, just a few weeks after the Celtics won their 18th championship. According to Silverman, the Grousbecks expect the final sale price to exceed $6 billion.

As Silverman writes, the Grousbecks and the investment banks advising them on the sale process are expected to review the first round of bids until sometime in February. At that point, two groups will be selected for a final round of bidding, unless one initial bid “meets the family’s expectations.”

If there’s a final round involving two bidders, it could take weeks or even months before a new owner is announced, Silverman adds.

The plan remains for the sale process to be conducted in two phases, with the new group controlling 51% of the franchise at some point in the first half of 2025. The remaining 49% would be sold in 2028.

Governor Wyc Grousbeck hopes to remain in that role until 2028, though it’s unclear if bidders will be open to that idea after he has given up his controlling interest in the first phase of the sale.

Celtics To Receive First Round Of Ownership Bids On Jan. 23

January 14th, 2025 at 4:51pm CST by Luke Adams

The Celtics‘ current majority owners will receive the first round of bids from prospective buyers on January 23, reports Adam Himmelsbach of The Boston Globe. According to Himmelsbach, that information was conveyed on Tuesday in a letter from the Grousbeck family to the rest of the team’s stakeholders.

As Himmelsbach relays, that letter from the Grousbecks stated that the investment banks retained to manage the sale have been in contact with potential bidders in recent months. The Grousbeck family is said to be “pleased with the broad level of interest that has emerged” and is targeting a “first close” this spring, Himmelsbach adds.

The Celtics’ majority ownership group first announced on July 1 that it would be putting control of the franchise up for sale. The plan laid out at that time was to sell a majority share (ie. 51%) of the team in late 2024 or early 2025, with Celtics governor Wyc Grousbeck remaining in his current role until the balance of the sale is completed in 2028.

That’s still the plan, Himmelsbach writes, though it’s unclear if bidders will be on board with the idea of having Grousbeck continue serving as a governor even after he has given up his controlling interest in the franchise.

The NBA may also have some reservations about a sale that plays out across several years, given what has transpired over the past year in Minnesota. However, it’s worth noting that the Timberwolves’ sale process saw prospective owners Alex Rodriguez and Marc Lore buy in as minority shareholders, and it wasn’t until it came time for them to take over majority control that a dispute arose between their group and longtime owner Glen Taylor. It sounds like the plan in Boston would be for the Celtics’ buyer to obtain a controlling interest in the team sooner rather than later.

Celtics co-owner Steve Pagliuca suggested in early July that he intended to submit a bid for the franchise, with Fenway Sports Group identified in August as another possible bidder. Reporting in October indicated that minority shareholder Robert Hale and Mark Bezos, the founding partner of HighPost Capital private equity group and half-brother of Amazon founder Jeff Bezos, are among the other prospective buyers who could be in the mix.

Sportico’s latest NBA franchise valuations, published last month, estimated the Celtics’ value at $5.66 billion.

Celtics Notes: Walker, Walsh, Scheierman, Potential Buyers

October 20th, 2024 at 11:58am CST by Arthur Hill

Lonnie Walker IV didn’t survive the Celtics‘ final cuts, but the decision to part with him clearly wasn’t an easy one, writes Souichi Terada of MassLive. Walker faced long odds to earn a roster spot with an organization operating under the second apron, and his teammates were impressed by his effort during his time in Boston.

“I love Lonnie,” Luke Kornet said. “He’s a great player, honestly. His energy and his joy and passion and connection just he mainly possesses I think was awesome. I never had the opportunity to know him closely until these past few weeks, and he’s been great to have around and honestly a joy to play with and a joy to work with.”

Walker appeared in four preseason games, averaging 7.3 points, 2.5 assists and 1.5 rebounds, and gave the Celtics a look at how he fits with the rest of the roster in case they consider bringing him back later. The price for keeping the 25-year-old free agent would have been around $11MM with tax penalties figured in, so management opted for the flexibility of having an open roster spot.

“He’s had a great approach,” coach Joe Mazzulla told Adam Himmelsbach of The Boston Globe. “A guy that’s been around the league a long time and has seen different environments. Came in with his head down and just wanted to work and wanted to have an understanding of what it’s like, what it is to play our style of basketball on both ends of the floor. I thought he did a good job of executing that in the time that he had. I thought he did a great job being patient and executing the role we needed him to. And I thought he did a good job in the film room trying to get to the understanding of our system on both ends of the floor.”

There’s more from Boston:

Jordan Walsh is looking for an expanded role in his second NBA season, Himmelsbach adds in a separate story. Walsh has noticed more trust from his teammates since training camp began. “Trying to gain the respect of my teammates definitely boosted my confidence a lot more,” he said. “Now [Payton Pritchard] is passing it to me a little bit more, [Jayson Tatum] is giving me advice, passing to me a little more. So all those things made me feel like I’m really a part of this team and I can help. Those guys believe it, and I believe it.”
Sam Hauser doesn’t want Baylor Scheierman to get discouraged by a rough preseason, Terada states in another MassLive story. The first-round pick shot just 16.7% from the field and 17.6% from three-point range while averaging 3.0 points, 1.8 rebounds and 0.6 assists per night. “Those five games were his first NBA experience,” Hauser said. “It’s hard to really have expectations on anybody in that situation. That’s a tough spot to be in. I’m sure for himself he has high expectations. I try to remember my first preseason — I don’t think I played that well. So I keep trying to tell him to stay aggressive, keep shooting.”
Two more potential buyers for the Celtics have emerged, according to Michael Silverman and Shelly Leung of The Boston Globe. Robert Hale, who’s already a limited partner in the team, said he has “keen interest” in becoming majority owner, and Mark Bezos, founding partner of HighPost Capital private equity group and half-brother of Amazon founder Jeff Bezos, is considering a bid as well, a source tells the authors.