In 2010, Joe Lacob made a bold move by purchasing the Golden State Warriors for $450 million. Little did many anticipate that this investment would not only change the face of the franchise but also significantly impact the NBA landscape. Over the past decade, under Lacob’s stewardship, the Warriors have clinched four NBA championships, transforming into one of the most dominant teams of the era.
Lacob’s vision and leadership have been pivotal. Beyond on-court success, the franchise's value has skyrocketed. The Warriors are now among the most valuable franchises in sports. This success is exemplified by the construction of the Chase Center, a testament to their ambition and financial growth. The state-of-the-art arena in San Francisco is not merely a home court; it’s a beacon of Lacob’s commitment. “No chance, sorry. That ship sailed a long time ago — a long, long time ago. I’m a Warrior, this is my identity, it’s our identity. I love what we’ve done. I love our fans, our arena (and) the last decade, and I just wanna do more. I just wanna create an even longer and even greater legacy for this organization,” Lacob stated, reinforcing his deep ties to the Warriors.
Simultaneously, significant developments are unfolding on the other side of the country. Boston Basketball Partners L.L.C., the ownership group of the storied Boston Celtics, has announced its intention to sell all its shares in the franchise. Having acquired the team in 2002 for $360 million, the group has witnessed the Celtics grow into a formidable force in the NBA. Forbes’ recent valuation of the Celtics at $4.8 billion underscores the franchise's impressive financial and competitive status.
This impending sale is motivated by estate and family planning considerations. In a public statement, Boston Basketball Partners L.L.C said, "The controlling family of the ownership group, after considerable thought and internal discussion, has decided to sell the team for estate and family planning considerations.” The sale process will see a majority interest being transferred by 2024 or early 2025, with the remaining shares to be sold by 2028. Notably, Wyc Grousbeck is expected to remain as the Governor of the team until the final closing sale in 2028. "The managing board of the ownership group expects to sell a majority interest in 2024 or early 2025, with the balance closing in 2028, and expects Wyc Grousbeck to remain as the Governor of the team until the second closing in 2028," the statement continued.
The Celtics have certainly positioned themselves well for the future. The organization has locked in its star players with significant contracts, ensuring continuity and competitive edge. Jayson Tatum secured a five-year, $314 million extension, solidifying his role as a cornerstone for the team. Jaylen Brown's five-year, $303 million deal complements Tatum’s extension, promising a dynamic duo for years to come. Additionally, Derrick White, Jrue Holiday, and Kristaps Porzingis have also been secured with lucrative contracts, with White signing a four-year, $125 million extension and both Holiday and Porzingis commanding salaries exceeding $30 million annually.
However, this investment in talent comes with financial challenges. The Celtics’ payroll is projected to surpass $200 million by the 2025-26 season, with an expected luxury tax bill skyrocketing to $250 million. This considerable financial outlay reflects the franchise's commitment to maintaining a top-tier team, with total commitments expected to exceed $450 million by the same season.
As both the Golden State Warriors and the Boston Celtics navigate these major developments, one thing remains clear: the decisions made today will shape the NBA’s competitive and financial landscape for years to come. Under the guidance of Joe Lacob, the Warriors continue to build on a legacy of success. Meanwhile, the Celtics, entering a new chapter with a forthcoming change in ownership, are laying the groundwork to uphold their storied tradition of excellence.