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Fresh from winning an NBA championship and becoming the franchise leader for the most championship banners with 18, the stakeholders of the Boston Celtics franchise are putting the team up for sale.
In a shocking turn of events, the team is valued to be around $5.12 billion. Should someone purchase all off the team's shares, it would be marked as the most expensive team sale in NBA history.
Purchasing NBA teams may take a lot of money. However, any businessman with a deep pocket will be willing to invest in an NBA team. In fact, even the NBA's all-time leading scorer LeBron James never shied away from expressing his desire to own an NBA team someday.
On the other hand, fellow NBA superstar Michael Jordan even owned a team at one point, in the form of the Charlotte Hornets. With the NBA growing exponentially, it isn't surprising that some of the wealthiest individuals would be willing to pour some money on an NBA team. Here is a look at the most expensive team sales in NBA history.
1. Phoenix Suns ($4 billion)
The Phoenix Suns were fresh from a NBA Finals run in 2021. Just a year later, the franchise changed ownership when Mat Ishbia purchased the team for a record-breaking $4 billion. In order to secure the Suns, Ishbia had to secure some loans, which were never disclosed to the public.
The new Suns owner pledged the majority of mortgage firm UWM Holding Corp's outstanding shares, which paved the way for him to acquire the Suns.
Since then, Ishbia immediately went to work. He played a role in acquiring major NBA superstars such as Kevin Durant and Bradley Beal to bolster the team's championship hopes.
2. Brooklyn Nets ($3.5 billion)
Joseph Tsai is known as one of the founders of e-commerce firm Alibaba. Thanks to the rise of Alibaba, it wasn't long before Tsai fancied buying an NBA team. He initially invested by acquiring 49% of the shares of the Nets from Russian billionaire Mikhail Prokhorov back in 2017, costing the Alibaba founder $1 billion.
Four years later, Tsai purchased the remaining shares, which were worth $1.3 billion. In total, Tsai spend $3.5 billion to become the owner of the Nets.
It hasn't been smooth sailing for Brooklyn since Tsai stepped in as the owner. The franchise saw the departure of elite superstars Kevin Durant and Kyrie Irving. Moreover, they're also dealing with a huge Ben Simmons problem that has clearly prevented the team from being a playoff team.
3. Houston Rockets ($2.2 billion)
Initially, Tilman Fertitta was just a limited partner to Leslie Alexander's Houston Rockets before fully purchasing the team for $2.2 billion.
Fertitta is a wealthy business mogul who has a stacked list of business portfolio. He reportedly owns several establishments, including The Post Oak Hotel, Golden Nugget Casino, Galveston Island's Pleasure Pier, and a reality show called Billion Dollar Buyer.
Since taking over in 2017, Fertitta's Rockets had to endure the ugly departure of NBA MVP James Harden. They've also ushered in a young core for their rebuilding chapter with the hopes of getting back into the playoff picture.
4. Los Angeles Clippers ($2 billion)
Any NBA fan will be familiar with the Clippers Curse. For several years under Donald Sterling, the Clippers have been cellar-dwellers in the NBA. In fact, many would even regard Sterling as the worst sports team owner.
Of course, Sterling finally got the boot when he was at the center of a racism controversy after his statements to his girlfriend were leaked to the public. This paved the way for the former Microsoft CEO Steve Ballmer to acquire the Clippers in 2014.
Around this time, the Clippers were starting to move on from their Lob City days, However, Ballmer did eventually lure both Kawhi Leonard and Paul George to Los Angeles, forming a deadly duo. While they were competitive in the postseason, the Clippers have yet to break the curse without a championship nor a Finals appearance to show for it.
5. Utah Jazz ($1.6 billion)
Ryan Smith is the son of the founders of Qualtrics. After Qualtrics was purchased by SAP, Smith used some of the earnings of the sale to acquire the Utah Jazz. Smith even managed to convince former Miami Heat star Dwyane Wade to come on board for the purchase of the Jazz franchise. In total, the team was sold for $1.6 billion in 2020.
Since acquiring the team, the Jazz have been an up-and-coming squad that's also in the midst of a rebuilding chapter. With the team still developing their young core, it might be a long road before Smith can see his fruits.
6. Minnesota Timberwolves ($1.5 billion)
Back in 2021, Marc Lore and former MLB MVP Alex Rodriguez decided to partner up in the acquisition of the Minnesota Timberwolves. The purchase made them shell out around $1.5 billion.
Unfortunately, despite the Timberwolves being fresh from a deep playoff run, the franchise owners are getting involved in a dreadful legal dispute. In fact, the case is going through an arbitration process, but a ruling is not expected until at least January 2025.
On the court, however, the Timberwolves have blossomed into a playoff contender. However, the Wolves traded away franchise icon Karl-Anthony Towns prior to the 2024-2025 season to clear cap space and have gotten off to a slow start to the season.
7. Toronto Raptors ($1.3 billion)
Maple Leaf Sports and Entertainment have owned the Toronto Raptors, which is the only Canadian-based NBA team, since 1998. However, two major firms, Rogers Communications and Bell (BCE), teamed up to acquire 75% of MLSE. This resulted in the $1.3 billion purchase of the Raptors back in 2011.
Since the acquisition, the Raptors have been legitimate playoff contenders, highlighted by their historic 2019 NBA championship run at the expense of the Warriors dynasty.
8. New York Knicks ($1.1 billion)
There's no question that the New York Knicks are a huge-market NBA team. As a result, Cablevisions Systems Inc. decided to purchase the New York Knicks for a whopping $1.1 billion back in 1994. As NBA fans remember, 1994 was the very same year when the Knicks made the NBA Finals.
9. Atlanta Hawks ($850 million)
In 2015, the Atlanta Hawks made headlines. While they did post the best record in the Eastern Conference in the 2014-2015 season, the Hawks also changed ownership when Tony Ressler's group that also involved former NBA star Grant Hill decided to buy the team. Ressler's group combined for $850 million to complete the acquisition.
After the acquisition, the Hawks have been a solid team in the Eastern Conference, highlighted by a deep playoff run in 2021. However, the franchise still needs to figure things out if they want to elevate as a consistent contender.
10. New York Knicks ($650 million)
Speaking of the Knicks, Cablevisions Systems only purchased the Knicks in 1994. But three years later, the firm sold its interest to ITT Corp for a total of $650 million. Unfortunately, that move wasn't changing the Knicks' title hopes.
