Going Out On Top? Boston Celtics For Sale After NBA Title, Large Contracts Handed To Star Players
Portfolio Pulse from Chris Katje
The Boston Celtics, fresh off their 18th NBA championship, are up for sale. Boston Basketball Partners plans to sell a majority stake in the team by 2024 or early 2025, with the remaining stake to be sold by 2028. The sale could break NBA records, with the team valued at $4.7 billion. The news has implications for Madison Square Garden Sports (NYSE:MSGS), Blue Owl Capital (NYSE:OWL), and DraftKings Inc (NASDAQ:DKNG).
July 02, 2024 | 7:34 pm
News sentiment analysis
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POSITIVE IMPACT
DraftKings, which lists the Celtics as favorites for the next NBA championship, could see increased betting activity and interest due to the team's high profile.
The Celtics' high profile and status as favorites for the next NBA championship could drive more betting activity on DraftKings' platform.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Madison Square Garden Sports, which owns the New York Knicks, could see increased interest and valuation as the Celtics' sale sets new benchmarks.
The sale of the Celtics at a potentially record-breaking price could elevate the perceived value of other NBA teams, including the Knicks, owned by MSGS.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 70
POSITIVE IMPACT
Blue Owl Capital, which owns stakes in several NBA teams, might see a positive impact as the Celtics' sale could increase the valuation of its holdings.
The high valuation of the Celtics could positively impact the perceived value of other NBA teams, benefiting Blue Owl Capital's stakes in the Hawks, Hornets, and Kings.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 60