“Buy low, sell high”: Fans react as Celtics owner Wyc Grousbeck ready to cash out at 1300%

Fresh off winning an NBA championship, the Boston Celtics could be going through some major changes. On Monday afternoon, reports emerged that Wyc Grousbeck is making the franchise available for purchase.

If Grousbeck decides to sell the team, he's in line for a massive payday. He first bought the franchise in 2002 for $360 million. Over the past two decades, Boston's value has skyrocketed. According to Forbes, the team is currently valued at around $4.7 billion. The franchise currently has the fourth-highest value across all 30 NBA teams.

Following the news of the Celtics potentially going up for sale, fans were amazed at the potential payout. They poured their thoughts out on social media on this shocking update.

Other fans poked fun at the timing of this possible sale. Some feel Grousbeck is looking to sell due to the team's massive financial implications in the near future.

"They re-signed everyone for a billion dollars and said i’m out ??," one fan said.

"Looked at paying 30 million + per player for their starting 5 next year and said bye," another fan said.

"Second Apron has bro SCARED," said one fan.

Over the past two seasons, Boston has handed out numerous sizable contracts. The latest being Derrick White, who inked a $125 million extension to remain with the team.

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NBA insider lays out timeline of Boston Celtics sale

According to a statement put out by the Boston Celtics, the sale of the team is going to be a slow process. The changeover will start in 2024, but Wyc Grousbeck is expected to still be in control for the next few years.

While breaking down the news of the Celtics being available for sale, ESPN's Tim Bontemps detailed what a timeline might look like. Things aren't expected to fully change hands until 2028.

"In a statement announcing the decision Monday, the Celtics announced that the managing board of the ownership group expects to sell a 'majority interest' in the team either this year or early next year, and that it 'expects Wyc Grousbeck to remain as the Governor of the team until the second closing in 2028.'"

Since Grousbeck bought the franchise in 2002, they've regularly been one of the NBA's top teams. In his early years as owner, he put together a big three of Paul Pierce, Kevin Garnett and Ray Allen. This trio of Hall of Famers went on to win a championship in 2008.

Despite years of deep playoff runs, it would take 16 years for Boston to lift the Larry O'Brien trophy again. They came close in 2022 but lost in the finals to Steph Curry and the Golden State Warriors. Two years later, Jayson Tatum and Jaylen Brown were able to deliver the franchise its 18th title.