Wyc ownership group planning to make Celtics available for sale

[InstaFace]

HRB hedged well and was tongue-in-cheek, so this is not a dunk.....but it's very very funny that the first two examples were two of the most successful coaches in history, and are both still active.

If he hadn't included the parenthetical, I'd have read it as sarcastic too. But he did, so I was unsure.

One can certainly debate whether Popovich was a "Successful executive" before he came down onto the court, though there's no such debate with Riley.

Bobby Cox was a manager for the Braves from 78-81, then their GM from 86-90, then back to Manager from 1990-2010. Given the talent he'd brought aboard as GM (Smoltz, Glavine, Chipper, David Justice, etc), I think he meets the test too.

Jack Adams was GM-Coach of the Red Wings for two decades, successful in both, but the coaching didn't follow the executive role. Similar for Paul Brown, who coached-GM'd the Bengals after (very successfully, of course) coach-GM'ing the Browns for two decades. But he didn't leave the sidelines until he was 8 years into coaching the Bengals, in 1975 (and then GM'd another 16 years).

Maybe there aren't a ton of great examples after all, even if we can snarkily come up with 2 in the NBA pretty quickly.

 

[InstaFace]

If they have already laid out the timeline like that, it tells me they already have a buyer in mind that is amicable to those conditions?

Or are anchoring to their timeline / operational conditions, and want all prospective bidders to know it going in upfront, so they can't be haggled off of them later.

If they have a willing buyer in mind that's fine, but they still want to run an auction and get price discovery, and that first bidder may not end up the best bidder.

 

[RorschachsMask]

Wyc protecting that White pick swap.

Respect.

 

[InstaFace]

The Johnson's are very anti-publicity unless it is on their terms. They've been more open recently but it's all been puff pieces about how great and magnanimous they are / Fidelity is.

NBA owners can be less in-the-spotlight than Wyc has chosen to be, can't they? There aren't a lot of Cubans in the league, that's not a job requirement. Can you imagine in your head what Ryan Smith (Jazz) looks like? Gabe Plotkin (Hornets)? Dan DeVos (Magic)? Vivek Ranadive (Kings)? Jody Allen (Blazers)? I would think that being a sports owner wouldn't thrust the Johnsons into the public eye too much, especially if (say) Pags stays aboard and can be the face of the ownership group (and/or Pallotta, Robert Epstein, etc). Obviously you have your Mat Ishbia / Steve Ballmer types who choose to be in front of the cameras a bunch, but that's just an optional perk, I'd say.

 

[jose melendez]

This is objectively bad.

We have really, really good ownership. Almost any other ownership is likely to be worse.

 

[Jed Zeppelin]

Wyc protecting that White pick swap.

Respect.

This guy gets it.

 

[Bigdogx]

Can't blame Wyc, leaving at the peak is just smart business! Our country is going to be looking at some hard times here soon regardless of what happens in November and sitting and not cashing in this chip when you see what is likely to happen would be unwise imo. Sucks because he was for sure the best current owner we had in this city, as someone else said it is almost 100% for sure not going to be better and more likely worse under new ownership.

 

[Ale Xander]

This sucks. This was the best ownership group in town.

Truth

 

[timelysarcasm]

Damn. Haven't even received my championship t-shirt yet.

 

[bankshot1]

I thought it was about parades (plural).

 

[kenneycb]

NBA owners can be less in-the-spotlight than Wyc has chosen to be, can't they? There aren't a lot of Cubans in the league, that's not a job requirement. Can you imagine in your head what Ryan Smith (Jazz) looks like? Gabe Plotkin (Hornets)? Dan DeVos (Magic)? Vivek Ranadive (Kings)? Jody Allen (Blazers)? I would think that being a sports owner wouldn't thrust the Johnsons into the public eye too much, especially if (say) Pags stays aboard and can be the face of the ownership group (and/or Pallotta, Robert Epstein, etc). Obviously you have your Mat Ishbia / Steve Ballmer types who choose to be in front of the cameras a bunch, but that's just an optional perk, I'd say.

All the examples you use are middling franchises in small markets who either suck or have been slightly above average for a very short period. In short, nobody (the royal nobody) gives a shit about those teams. Knowing what someone looks like doesn't mean they're not thrust into the public eye. I doubt you could remain "anonymous" as an owner of the Celtics.

Regardless, even if you're not "front and center" like a Cuban and try to shy away from that, owning a team runs the risk of you becoming front and center, typically when something bad happens. I don't picture the Johnson's ceding control of their public image like that.

 

[RorschachsMask]

I thought it was about parades (plural).

Isn’t that why he’s in charge until 2028?

 

[bankshot1]

Isn’t that why he’s in charge until 2028?

Theres' probably a good estate planning/tax reason as I'm pretty sure there a tax loss carry forward on parades.

 

[Ale Xander]

I’m kinda scared what happens in ‘29 and after

 

[bankshot1]

I’m kinda scared what happens in ‘29 and after

You been paying attention to the news lately? This AM?

 

[Ale Xander]

You been paying attention to the news lately? This AM?

Not yet no. Cathing up now. Car issues and other headaches

 

[InstaFace]

You been paying attention to the news lately? This AM?

Something in particular in your mind? Because if so I've missed it too. As far as i'm concerned, today is Derrick White Day, a cause for much rejoicing.

 

[Ale Xander]

The Johnson's are very anti-publicity unless it is on their terms. They've been more open recently but it's all been puff pieces about how great and magnanimous they are / Fidelity is.

If they bring in Banners 21 and 22 ( yeah I said it) the puff pastry will be delicious. Plus think of all the ink synergy only needing green.
Better this team than the others for them on all counts imho

 

[Tudor Fever]

This sounds to me like they are trying to narrow tax liabilities (personal/family) before 2025 when the tax code may significantly change.

It would more likely be 1/1/26, but this is a good point. The difference of 40% vs. 55% estate tax is probably north of $1 billion.

 

[McBride11]

Or are choosing a timely departure while bagging $5-6B?

It will be interesting to start hearing some names/groups. Sell to Fenway, LeBron relinquishes his share, rebuys a larger share upon retirement and becomes the face of the franchise? Now THAT would piss some people off



Timeline shows LeBron retiring following the 20026-27 season too. Hmmmm

Man, 20026?? He will be playing with his 8th generation grandson. Def wont play b2b games

 

[Devizier]

Dan DeVos (Magic)? Vivek Ranadive (Kings)?

I would argue that these two have been in the spotlight (for different reasons).

 

[HomeRunBaker]

Man, 20026?? He will be playing with his 8th generation grandson. Def wont play b2b games

I think he plays Bryce’s rookie year. He could probably play throughout his 40’s and still be a rotation player if he wanted. He still has a ton of declining to do before not being a productive player.

 

[McBride11]

I think he plays Bryce’s rookie year. He could probably play throughout his 40’s and still be a rotation player if he wanted. He still has a ton of declining to do before not being a productive player.

Just messing with the typo of 20,026 instead of 2026

 

[kenneycb]

I would argue that these two have been in the spotlight (for different reasons).

View: https://www.youtube.com/watch?v=jEK_d-SFfCQ

 

[tims4wins]

View: https://twitter.com/isjanosnba/status/1807875771010011318?s=46

 

[E5 Yaz]

Answering a question no one is asking

LeBron James is a partner at FSG, which is run by John Henry and owns the Boston Red Sox, the Pittsburgh Penguins, Liverpool FC and other major sports assets. Could James become a Celtics player-owner? Short answer: No.

https://www.sportico.com/law/analysis/2024/lebron-james-player-owner-1234786304/

 

[Mugsy's Jock]

I wouldn’t expect to ever see a successful executive take the step down and back into the coaching ranks. Has this ever happened in any sport? (Waits for someone to list 8 coaches w prior GM success, sigh).

Ruben Amaro Jr. went from Phillies GM to first base coach for the Red Sox in 2016!

 

[slamminsammya]

I wouldn’t expect to ever see a successful executive take the step down and back into the coaching ranks. Has this ever happened in any sport? (Waits for someone to list 8 coaches w prior GM success, sigh).

popovich

 

[The Social Chair]

Riley and Popovich stabbed their coaches in the back when a title opportunity fell in their laps.

 

[koufax32]

Wyc’s replacement will need to have a bake sale and set up a lemonade stand outside the Garden to afford the tax penalties coming their way in another year or two.

 

[TripleOT]

A few of the posters on this site called this a long time ago.

I’m not worried about new ownership at all. Spend like crazy throughout the prime of the Jays, and then reset.

Those cap penalizes with heavily multipliers are ridiculously onerous. For example if you pay a third string PG $5 million more than a vetmin replacement, that may cost ownerships $30 million or more the first season, and $40 million plus the next

 

[TomRicardo]

Answering a question no one is asking

https://www.sportico.com/law/analysis/2024/lebron-james-player-owner-1234786304/

FSG is going to pick up the Vegas franchise in expansion.

 

[sezwho]

This is objectively bad.

We have really, really good ownership. Almost any other ownership is likely to be worse.

That’s been my first and second reaction as well.

What I’m holding onto is that if this transition is necessary (and ginning up hundreds of millions of extra dollars for tax bills every year may create genuine urgency) this seems like optimal stewardship and planning. This is pretty much consistent with every single thing they’ve done since buying the team in the first place, and ideally bodes well for them choosing the ‘right’ buyer.

 

[E5 Yaz]

FSG is going to pick up the Vegas franchise in expansion.

Right. I was just bemused by the notion that someone thought this was worth explaining to get clicks

 

[ifmanis5]

View: https://twitter.com/AdamHimmelsbach/status/1807905433069166669

Statement from Celtics co-owner Steve Pagliuca, who says he intends to be “a proud participant in the bidding process.”

 

[RorschachsMask]

View: https://twitter.com/AdamHimmelsbach/status/1807905433069166669

Statement from Celtics co-owner Steve Pagliuca, who says he intends to be “a proud participant in the bidding process.”

Pags is just going to buy out Wyc’s stake lol.

 

[HomeRunBaker]

Ruben Amaro Jr. went from Phillies GM to first base coach for the Red Sox in 2016!

I remember this. Totally wild but Amaro was fired by the Phillies after destroying the organization once he had his footprints on the roster….not willingly leaving a higher level position.

Riley and Popovich stabbed their coaches in the back when a title opportunity fell in their laps.

Yeah and they remained with their team. Neither left an exec role on their own terms to coach somewhere else.

 

[Jed Zeppelin]

View: https://twitter.com/AdamHimmelsbach/status/1807905433069166669

Statement from Celtics co-owner Steve Pagliuca, who says he intends to be “a proud participant in the bidding process.”

Seems pretty wink-wink to me.

 

[PedroKsBambino]

The optimistic read on all this is Wyc said "this is going to get really expensive" and Pags said "hold my beer...."

 

[InstaFace]

THE (offer) CALL IS COMING FROM INSIDE THE HOUSE!

 

[Philip Jeff Frye]

View: https://twitter.com/AdamHimmelsbach/status/1807905433069166669

Statement from Celtics co-owner Steve Pagliuca, who says he intends to be “a proud participant in the bidding process.”

I heard a rumor from somebody in the Bain Capital world last week that Pagliuca was looking to buy up other owners' interests in the team. I thought he was talking about some of the small fry but I guess Pagliuca is aiming higher.

 

[RorschachsMask]

The way the news came out, the timeline, multiple contract extensions announced, it just felt to me like things may have already been agreed to, albeit unofficially.

Id be pretty surprised if it wasn’t Pags.

 

[Ed Hillel]

THE (offer) CALL IS COMING FROM INSIDE THE HOUSE!

HIS FATHER IS THE DISTRICT ATTORNEY

Maybe Pags is just shill bidding to up the value of his stake . Especially if they use Ebay…

 

[ALiveH]

We would want an owner with Boston ties with very deep pockets who is willing to withstand negative cash flow to field a winner. These days, that means someone highly liquid with net worth over $10 Bn.

Does Pags really want to tie up nearly all his net worth in his celtics ownership? This stake will probably be sold for upwards of $2.5 Bn, possibly $3 Bn. I could imagine him buying a chunk, but not the whole thing.

The only others I can think of with Boston ties who could conceivably take it all down are the Johnsons and the Krafts, which would be a good outcome.

If not them, I suspect it would be a consortium / multiple bidders with boston ties (best case scenario would be a consortium of multiple boston-connected billionaires) or someone with deep pockets outside the boston area (not a great outcome imho).

 

[NomarsFool]

The money is so huge now. Even ridiculously wealthy individuals, I don't see how they can have so much money tied up in one investment. So, will we see more PE fund types looking to buy pro teams? It's not a good investment for pension funds, because those entities are obviously looking for cash flow positive investments like commercial real estate. The last thing in the world we'd want would be an owner like that.

 

[DeJesus Built My Hotrod]

We would want an owner with Boston ties with very deep pockets who is willing to withstand negative cash flow to field a winner. These days, that means someone highly liquid with net worth over $10 Bn.

Does Pags really want to tie up nearly all his net worth in his celtics ownership? This stake will probably be sold for upwards of $2.5 Bn, possibly $3 Bn. I could imagine him buying a chunk, but not the whole thing.

The only others I can think of with Boston ties who could conceivably take it all down are the Johnsons and the Krafts, which would be a good outcome.

If not them, I suspect it would be a consortium / multiple bidders with boston ties (best case scenario would be a consortium of multiple boston-connected billionaires) or someone with deep pockets outside the boston area (not a great outcome imho).

Why Boston ties? If someone buys the Cs in whole or in part they are going to be paying what amounts to a record or near record price for an NBA franchise. Its theirs to with as they please however its not like they can move the team and while they can absolutely mismanage things its hard to see an owner paying top dollar to just let it languish. They should take on all qualified bidders and especially those who could care less about second aprons etc (I know its more punative than just financial penalties).

Wealthy people buy and nurture assets all over the place. I don't care if the next governor of the Cs is from a cesspool of hell like New York, Miami or LA as long as they pay up when the competitive window is open.

 

[bankshot1]

Bill Gates just to fuck with Steve Ballmer.

Mike Bloomberg has Boston roots, has the dough and good chance he was a Celts fan WBW.

 

[RIFan]

The only others I can think of with Boston ties who could conceivably take it all down are the Johnsons and the Krafts, which would be a good outcome.

How liquid would Kraft be? I’m sure he is pulling a ton of cash out of the Patriots annually, but most of his wealth has to be tied up with the Patriots, real estate, and the paper company.

 

[CaptainLaddie]

FWIW I think it was Mannix who said that we might see a casino company try to come in. Wynn Resorts already has Encore in Boston. They've got a fuckton of money -- in cash, no less -- and are expanding their casino brand into more markets. I wouldn't be shocked if they came in and tried to bid... but it seems like Pags is probably the answer.

 

[Bunt4aTriple]

Guess I'm finally going to have to learn how to pronounce Pagliuca, huh?