Finalizing the Deal
The NBA’s Board of Governors must approve the sale before it is finalized, a standard step in franchise acquisitions. The league has yet to issue a public statement regarding the sale.
Legal Teams Behind the Transaction
- The investor group is represented by Wachtell Lipton Rosen & Katz, led by corporate partners Edward D. Herlihy and Eric M. Feinstein, with contributions from litigation partner David B. Anders, antitrust partner Damian G. Didden, executive compensation partner Jeannemarie O’Brien, finance partner Gregory E. Pessin, and tax partner T. Eiko Stange.
- Cooley LLP advised the Celtics and the Grousbeck family, with a team led by corporate partners Matthew Hemington, Steve Tonsfeldt, and David Silverman, along with special counsel Gaël Hagan, antitrust partner Megan Browdie, tax partner Todd Gluth, and senior counsel Mark Windfeld-Hansen.
The Celtics to be sold marks the latest blockbuster deal in professional sports, setting a new benchmark for franchise valuations and reinforcing Boston’s place at the center of sports business history.
