Wyc Grousbeck bought the team for $360 million in 2002 and just delivered the franchise’s second championship during his tenure—a league record 18th title.
Wyc Grousbeck bought the team for $360 million in 2002 and just delivered the franchise’s second championship during his tenure—a league-record 18th title.
When Wyc Grousbeck purchased the Boston Celtics in 2002, he made it clear to his partners that it wasn’t about the money. “Imagine yourself being in a parade, if we win the championship, with your kids, getting a ring and hanging a banner,” the 61-year-old recalls saying. “We’re doing this for Celtic Pride.”
For the second time during his tenure, Grousbeck will have made good on that promise. On Monday, the Celtics earned a Game 5 victory over the Dallas Mavericks to collect their record-setting 18th NBA championship. Buoyed by a duo of stars in Jaylen Brown, the NBA Finals MVP, and Jayson Tatum, Boston ran through the playoffs, losing only three games, after posting a league-best 64-18 record in the regular season.
“We all watched the team the last few years—great teams, but not quite there,” an elated Grousbeck said to the sellout crowd at TD Garden in Boston. “And Brad [Stevens] was brilliant. We knew we needed to make changes. We knew we wanted to make changes, and Brad got it done. He brought in Jrue [Holiday], he brought in [Kristaps Porzingis], and here we are. Banner 18 is back!”
As the NBA continues to reach new heights, it makes Grousbeck’s entry seem almost clairvoyant. The league is reportedly negotiating a new media rights package that amounts to $76 billion in fees over 11 years, more than double its previous annual rate, while basketball continues expand globally and captivate fans in overseas markets. A recent survey by S&P Global Intelligence reported that 52% of online adults in China watch NBA games, as well as two-thirds of basketball viewers in France and Italy.
“I really like our chances to keep growing,” Grousbeck says. “The NBA is a great product or a great experience, and we have so many international fans.”COURT BATTLEHow the billionaire owners in the 2024 NBA Finals matched up.
Buying the Celtics proved to be a fortuitous turn of events for Grousbeck, who obtained his Juris Doctor from the University of Michigan and began working as a corporate lawyer in the 1980s before realizing another career path might suit him better.
