The Boston Celtics went all in the previous season, making significant splashes to get players like Kristaps Porzingis and Jrue Holiday and then signing massive contract extensions with all five of their starting players.
Despite the fact that their perseverance paid off in the form of the 2024 NBA Championship, Irvin Grousbeck wants to sell the team in large part due to the organization’s growing payroll, according to the New York Post. “Irving Grousbeck refused to finance the significant losses that were anticipated as a result of the enormous contracts that enabled the Celtics to win a record 18 NBA titles in June.
According to accounts, the squad barely made a profit throughout its title run the previous season.” LeBron James and Bronny’s Sharing of a Locker Room: Jeanie Buss weighs inLeBron James and Bronny’s Sharing of a Locker Room: Jeanie Buss weighs in According to a source close to the sale process, it is anticipated to lose almost $80 million as a result of luxury tax penalty for exceeding the salary cap for the forthcoming season, which begins next month.
When tougher salary cap sanctions take effect in the 2025–2026 season, that number most likely will increase dramatically.” The 90-year-old family patriarch Irving Grousbeck is currently having a heated argument with his son. It’s Wyc Grousbeck, not his father, who is aggressively re-signing the team’s best players to big-time contracts in order to keep the winning core intact. Before Jayson Tatum, Derrick White, and Jrue Holiday received lucrative summer contract extensions, word leaked out that the Celtics were up for grabs.
For just the 2024–25 season, the Celtics salary and luxury taxes are projected to be $262 million. The $262 million amount does not even account for Jayson Tatum‘s summer signing of a supermax contract that will begin in the following summer. With White, Holiday, and Porzingis among the highly compensated role players on Tatum and Brown’s climbing supermax contracts, it is anticipated that the Celtics’ payroll and tax burden will surpass $500 million in the 2025–2026 season.
Teams like the Warriors and Clippers will let key players go in the 2024 summer in order to improve their financial situation, as their finances cannot be sustained for more than a few seasons. The tax consequences of the new CBA are so great that even the Nuggets were compelled to let players like Kentavious Caldwell-Pope depart in free agency.
That’s not a move the Celtics will probably make this season as they are in a proven contention window, but it is obvious that this isn’t sustainable for them. The NBA will begin seizing the Celtics’ future assets and fining them heavily, which won’t be a problem for the next owner of the team until the Celtics sell.
With perhaps the best team in the NBA right now, the most successful organization in NBA history may find it more difficult to sell than anything else for the Celtics, especially considering that their starting five will owe about a billion dollars over the next five seasons.
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