Why John Henry isn’t interested in buying the Celtics originally appeared on NBC Sports Boston
If you’re a Boston fan hoping someone other than John Henry buys the Celtics, Tony Massarotti has some reassuring words for you.
Earlier this month, New York Post reporter Josh Kosman reported that Fenway Sports Group, the holding company led by Henry, who also owns the Boston Red Sox, could make a bid to buy the Celtics after Boston Basketball Partners LLC announced its intention to sell a majority stake in the club in July.
But during an appearance on 98.5 The Sports Hub’s Felger & Mazz radio show on Monday, Massarotti suggested Henry is unlikely to become the next owner of the Celtics.
“My understanding is that Fenway Sports Group doesn’t want the Celtics,” Massarotti said in the video above. “That’s just my understanding. I’m not reporting it, I’m just saying I don’t think they want the Celtics. That’s what I’m hearing.”
So why wouldn’t Henry target the Boston Celtics? They’re one of the best teams in professional sports, winning their 18th championship and on track for their 19th next fall. Why not add a second Boston team to a strong portfolio that also includes the Red Sox, Liverpool FC and Pittsburgh Penguins?
Massalotti cited a few reasons. The first is financial. The Ringer’s Bill Simmons reported Monday that the NBA wants to sell a team like the Celtics for $6 billion, and noted “rumors” that billionaire Jeff Bezos has made a bid. Spending $6 billion would go against Henry’s management philosophy of buying professional sports teams relatively cheaply.
“When John Henry bought the franchise, he bought an iconic franchise that was undervalued,” Massarotti explained. “The Red Sox were undervalued and had more room to grow than they had under the Yawqui Trust. … There’s a lot of opportunity for growth and revenue here, and that’s why Fenway Sports Group was interested.”
“You could say the same about Liverpool. The Penguins are an elite franchise. But they got all these assets at a favorable price. The Celtics are not at a favorable price.”
Second, there have long been rumors that Henry and FSG are interested in owning an NBA expansion franchise. Las Vegas and Seattle are likely to be the next home for the new team. As Massalotti points out, acquiring one of those teams would be smart business for them than buying the Celtics, whose deep roster means they’ll be under a huge luxury tax bill this coming season.
“For $6 billion, they would be better off buying the franchise and starting from scratch rather than inheriting the tax bill that’s going to come from the Celtics in a few years,” Massarotti said of Fenway Sports Group.
That means Henry and company could be biding their price on the Celtics while waiting for a deal to move to either Las Vegas or Seattle, which would leave current majority owner Wyck Grousbeck with one less potential buyer for the franchise.