Fenway Sports Group ‘seriously considering’ buying Celtics, per report

The owners of the Red Sox reportedly could look to add another Boston institution to their portfolio: the for-sale Celtics.

Fenway Sports Group and RedBird Capital Partners are “seriously considering bidding for the Celtics,” according to a report from the New York Post.

The John Henry-led FSG also owns the NHL’s Pittsburgh Penguins and Premier League soccer club Liverpool, among other sports-related properties. RedBird Capital, a private equity firm, has stakes in FSG, A.C. Milan, Alpine F1 Racing and the United Football League.

Both also have deep ties to Los Angeles Lakers star LeBron James, who joined FSG’s ownership group in 2021 alongside business partner Maverick Carter and signed a lifetime strategic partnership with Fenway Sports Management in 2023.

That connection could make a Fenway pursuit of the Celtics awkward for Boston fans on multiple fronts. Henry and his partners have been harshly criticized in recent years for their handling of the Red Sox payroll, and James is a longtime Celtics rival.

Per NBA rules, James could not gain an ownership stake in a team while he is an active player. The 39-year-old future Hall of Famer is preparing to enter his 22nd NBA season.

But Wyc Grousbeck, whose family has been majority owners of the Celtics since 2002, intends to sell the team in two phases: a majority interest by early 2025 and the remainder in 2028, with Grousbeck staying on as governor until the latter is finalized. James presumably will be retired by then, clearing his path to franchise ownership.

FSG and RedBird Capital’s reported interest in the Celtics is not surprising, as they, along with James, have long been linked to potential NBA expansion in Las Vegas.

“We’re looking at bringing an NBA expansion team (to Vegas) in partnership with LeBron and Fenway Sports Group,” RedBird Capital founder Gerry Cardinale said last December, via Sports Business Journal.

Celtics ownership retained BDT & MSD Partners and J.P. Morgan as co-advisors for the sale of the team, which Grousbeck announced weeks after Boston defeated the Dallas Mavericks to win its 18th NBA championship. In its initial statement, Boston Basketball Partners LLC cited “estate and family planning considerations” as the Grousbecks’ reason for selling.

The Celtics almost certainly will be the most expensive NBA franchise ever purchased, despite concerns that they do not own the arena they play in (TD Garden is owned by the Bruins) and currently have a roster that’s set to cost upward of $500 million next season between salaries and luxury tax penalties. That would shatter the current record of $388 million set by the 2023-24 Golden State Warriors.

Nearly every player from Boston’s championship team remains under contract, with starters Jayson Tatum and Derrick White and key reserve Sam Hauser all signing extensions this offseason. Tatum and co-headliner Jaylen Brown own the largest and second-largest contracts in NBA history, respectively, and will both make north of $53 million in 2025-26.

Sources told the New York Post that the Celtics are “seeking a record $6 billion price.” Grousbeck and his partners bought the team for $360 million 22 years ago.

One of those partners, co-owner Steve Pagliuca, is the only individual who’s publicly announced a plan to bid for the Celtics.

“Being a co-investor and Managing Partner of the Celtics has been a great honor and a labor of love,” Pagliuca said in a statement last month. “I hope to be part of the Celtics moving forward and will be a proud participant in the bidding process.”