Speculation about Jeff Bezos potentially purchasing the Boston Celtics has been debunked.
Just a day after Bill Simmons mentioned on his podcast that there was “legitimate buzz” about the Amazon founder bidding for the iconic NBA franchise, a new report has contradicted those claims.
Nick Wingfield of The Information, a publication aimed at high-powered tech executives, reported that Bezos has no intention of making an offer for the Celtics. Wingfield stated, “Jeff Bezos has no plans to bid on the Boston Celtics, according to a person close to Bezos.”
No, Jeff Bezos doesn’t plan to bid on the Boston Celtics. Scoop from me in @theinformation https://t.co/iwVkASjl19
— Nick Wingfield (@nickwingfield) August 20, 2024
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The source close to Bezos emphasized that Simmons’ speculation holds “zero truth.” On Monday, Simmons expressed his belief that Bezos might emerge as one of the interested buyers for the Celtics.
The Grousbeck family and their investment group unexpectedly put the Celtics up for sale in July, shortly after the team’s 2024 NBA championship victory. The sale is structured in two phases: 51% of the team is expected to be sold in the coming months, with the remaining 49% transferred by 2028.
Despite being the second-richest person in the world, Bezos, with an estimated net worth of nearly $200 billion, will not be adding the Celtics to his portfolio. This decision surprises many, as Bezos had previously explored the possibility of purchasing the NFL’s Washington Commanders.
Potential Buyers and Challenges Ahead
The Celtics’ sale process continues, with current minority owner Steve Pagliuca expressing interest in acquiring the Grousbeck family’s shares. However, Pagliuca may need to assemble a group of buyers to complete the purchase.
While Forbes estimates the Celtics’ valuation at $4.7 billion, the expected sale price is closer to $6 billion. Whoever emerges as the new owner will inherit a championship team but will also face financial challenges in maintaining the roster under the current collective bargaining agreement.
