If you’re one of those Boston fans who would rather see anyone other than John Henry buy the Celtics, Tony Massarotti has some reassuring words for you.
Earlier this month, Josh Kosman of the New York Post reported that Fenway Sports Group – the Henry-led holding company that owns the Boston Red Sox – was “seriously considering” making a bid for the Celtics. The bid became available after Boston Basketball Partners LLC announced in July its intention to sell a majority stake in the C’s.
In Monday’s episode of 98.5 The Sports Hub’s Felger & Mazz However, on a radio show, Massarotti said it was unlikely that Henry would be the next owner of the Celtics.
“From what I understand, Fenway Sports Group doesn’t want the Celtics,” Massarotti said, as seen in the video player above. “…That’s just my understanding. I’m not reporting that; I’m just telling you, I don’t think they want the Celtics. That’s what I’m hearing.”
So why wouldn’t Henry target the Celtics, one of the premier franchises in professional sports that just won its 18th championship and is expected to win its 19th championship next fall? Why not add a second Boston team to a solid portfolio that includes the Red Sox, Liverpool FC and the Pittsburgh Penguins?
Massarotti cited several reasons – the first being financial. Bill Simmons of The Ringer reported Monday that the NBA would like to sell a team like the Celtics for $6 billion, and noted that there were rumors that multi-billionaire Jeff Bezos would make an offer. Forking out $6 billion would go against Henry’s business principle of buying relatively cheaply for professional sports teams.
“When John Henry bought franchises, he bought undervalued signature franchises,” Massarotti explained. “The Red Sox were undervalued and had greater growth potential than they got under the Yawkey Trust. … There were a lot of growth and income opportunities here, which is why it was interesting to the Fenway Sports Group.”
“The same goes for Liverpool. The Penguins are an elite franchise. But they got all these assets at cheap prices. With the Celtics, the price is not cheap.”
Second, there have long been rumors that Henry and FSG are interested in owning an NBA expansion franchise, with Las Vegas and Seattle being the next likely home cities for new teams. As Massarotti points out, buying one of those teams would be smarter than buying the Celtics, who will face huge luxury tax bills in the coming seasons due to their loaded roster.
“If it costs $6 billion, they’d almost be better off starting their own franchise and starting over rather than inheriting the tax bill the Celtics are going to throw at them in a few years,” Massarotti said of the Fenway Sports Group.
So perhaps Henry and Co. are priced out for the Celtics while they wait for Las Vegas or Seattle, leaving current majority owner Wyc Grousbeck with one less suitor for his franchise.
