Don’t always trust everything out of the Post, but this is interesting if true. Sounds like Irv is cheap and doesn’t wanna pay for this team moving forward. If true, then good let’s get him out of there.
Pags is rich, let him buy it.
It’s also interesting that the insiders don’t believe in the $6B price because of the financials. Are they that bad that even coming off a title run and being the premier franchise in the league isn’t good enough for $6B? Do we really need to own our own arena?
I agree with others who’ve pointed out the Post is a rag. The part I find hardest to believe is that they only broke even last year and will actually lose $80 mill next year. Winning championships increases the value of a franchise as well.
NY posts so grain of salt and all that.
But if this is true daddy Grousbeck can get fucked. He’s got a 15,000% return on investment on this team because his son knew what he was doing. If he can’t stomach a few years of a slightly balance sheet then he’s just another fucking dragon hoarding his wealth.
Both stories can be true – Irv was annoyed that Wyc has basically put the team in the red for the next five years or so and they need to do estate planning. Whether the team is worth $6B or $4B or something in between is a separate issue. The fact is that there is going to be a multi-billion dollar tax bill when Irv dies if those assets (the value of team) aren’t in an irrevocable trust.
As for the value – Wyc is spending some of today’s franchise value for contracts over the next five years. The franchise value should go up by considerably more than the team will bleed in luxury taxes but that’s limited consolation to a buyer who has to come up with the actual cash to pay the tax
Every single time I hear about a team “breaking even,” especially after a team wins a championship, I just always find that incredibly hard to believe …
I don’t understand owners sometimes. Even if you lose money, break even, or make a slight profit, someone is going to buy the team for at least 5x what you paid for it.
Ho humm. Zero new information, and it’s just clickbait – or a weak attempt at a hit piece.
So according to the article, Irvine G owns 20% and Wyc owns 3% but Pags has 20%. They make it sound as if Pags is greatly outnumbered but in reality he owned more the than Wyc. Does their family own the rest spilt up?
Credit to Wyc, he never shies away from going on record when contacted for articles:
>**“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 insisted.**
>**“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.”**
This is Market Basket 2013, all over again.
If true Wyc is the goat
It’s very simple why they’re selling the team: it’s worth a shit ton of money right now
I’m sorry but Irving is a massive fucking loser if true.
I think they overpaid the two Jays and Jrue with the new contracts.
15 comments
New York post is a bit tabloid-y, so I understand if you want to take this report with a grain of salt.
FWIW, this is the [same reporter who reported](https://nypost.com/2024/08/08/sports/lebron-james-could-end-up-a-celtics-owner-as-fenway-sports-considers-purchase/) Fenway Sports Group’s interest in buying the Celtics
Don’t always trust everything out of the Post, but this is interesting if true. Sounds like Irv is cheap and doesn’t wanna pay for this team moving forward. If true, then good let’s get him out of there.
Pags is rich, let him buy it.
It’s also interesting that the insiders don’t believe in the $6B price because of the financials. Are they that bad that even coming off a title run and being the premier franchise in the league isn’t good enough for $6B? Do we really need to own our own arena?
I agree with others who’ve pointed out the Post is a rag. The part I find hardest to believe is that they only broke even last year and will actually lose $80 mill next year. Winning championships increases the value of a franchise as well.
NY posts so grain of salt and all that.
But if this is true daddy Grousbeck can get fucked. He’s got a 15,000% return on investment on this team because his son knew what he was doing. If he can’t stomach a few years of a slightly balance sheet then he’s just another fucking dragon hoarding his wealth.
Both stories can be true – Irv was annoyed that Wyc has basically put the team in the red for the next five years or so and they need to do estate planning. Whether the team is worth $6B or $4B or something in between is a separate issue. The fact is that there is going to be a multi-billion dollar tax bill when Irv dies if those assets (the value of team) aren’t in an irrevocable trust.
As for the value – Wyc is spending some of today’s franchise value for contracts over the next five years. The franchise value should go up by considerably more than the team will bleed in luxury taxes but that’s limited consolation to a buyer who has to come up with the actual cash to pay the tax
Every single time I hear about a team “breaking even,” especially after a team wins a championship, I just always find that incredibly hard to believe …
I don’t understand owners sometimes. Even if you lose money, break even, or make a slight profit, someone is going to buy the team for at least 5x what you paid for it.
Ho humm. Zero new information, and it’s just clickbait – or a weak attempt at a hit piece.
So according to the article, Irvine G owns 20% and Wyc owns 3% but Pags has 20%. They make it sound as if Pags is greatly outnumbered but in reality he owned more the than Wyc. Does their family own the rest spilt up?
Credit to Wyc, he never shies away from going on record when contacted for articles:
>**“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 insisted.**
>**“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.”**
This is Market Basket 2013, all over again.
If true Wyc is the goat
It’s very simple why they’re selling the team: it’s worth a shit ton of money right now
I’m sorry but Irving is a massive fucking loser if true.
I think they overpaid the two Jays and Jrue with the new contracts.