No, Golden State Warriors owner Joe Lacob will not look to buy the Boston Celtics and here is why

Now that arguably the most famous franchise in the NBA is on the market, it’s not surprising that there will be a great deal of discussion about who will be taking the reigns. After all, for those who can afford such an investment it’s got to be a no brainer in terms of what the ROI could be going forward. Right?

Warriors’ Joe Lacob isn’t interested in buying the Boston Celtics

As any basketball fan today will know, Joe Lacob is the owner of the Golden State Warriors, however, what many might know is that the Massachusetts native was once a minority owner of the Boston Celtics as well. Indeed, between 2006 and 2010, Lacob was part of the ownership of the Celtics until he decided to part ways with the franchise to buy the Golden State Warriors for $450 million. Needless to say, it was money well spent as we’ve seen the Warriors become one of the most formidable teams in the NBA in the 14 years that have passed since.

Nonetheless, it’s not hard to understand why there was a fair share of chatter about Lacob perhaps entering the fray in Boston once again, when current Celtics owner Wyc Grousbeck announced at the start of June that he intended to sell the franchise. Yet according to Lacob himself, no such move will be made as his desire is to continue building in the Bay Area. Speaking on “The Athletic NBA Show”, Lacob left no doubts about where he stands on the idea of buying the Celtics. “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.”

So, what happens with the Celtics now?

Regarding what comes next, there has been no definitive movement in terms of a sale, but what we do know is that the Celtics are set on the decision to sell and moreover, have a timeline set out as noted in the statement that the franchise released shortly after defeating the Dallas Mavericks in the NBA Finals, claiming a record 18th championship. “Boston Basketball Partners L.L.C., the ownership group of the Boston Celtics, announced today its intention to sell all the shares of the team. 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 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.”

Now, where specifics are concerned, it should be said that in recent years the value of NBA franchises has gone through the roof, a by-product of the increase in viewership and general interest in the sport. For perspective, the Celtics were valued by Forbes at $4.8 billion in October of last year. When Grousbeck and his consortium purchased the team back in 2002, it was for the price of $360 million i.e., that’s quite a profit that was turned. Add to that the looming luxury tax bill which is set to be even steeper with the revamped second apron in the new Collective Bargaining Agreement, and it starts to make even more sense.

Consider for a moment that the Celtics handed Jayson Tatum the largest contract in NBA history, a five-year, $314 million extension, which exceeded the five-year, $303 million deal that his teammate Jaylen Brown received last summer. It doesn’t stop there either as Derrick White is now on a four-year, $125 million extension, $30-plus million will be paid to Jrue Holiday and Kristaps Porzingis per year. What all of this means in that the Celtics will be paying out in excess of $200 million by the time the 2025-26 season rolls around. It goes without saying that when you factor in the expected luxury tax of $250 million, the total cost of that single season could be approximately $450 million. In simple form, whoever owns the Celtics is looking at two options: Pay out a whole lot of money OR disband a championship-winning roster. As we always say, watch this space.