Celtics Notes: Tatum, Simons, Sale, Roster, Brown, White
Celtics forward Torrey Craig has provided an update on recovering All-Star forward Jayson Tatum. In an interview with CLNS Boston’s Bobby Manning and Noa Dalzell on their show “The Garden Report” (YouTube video link), Craig spoke about Tatum’s recovery from an Achilles surgery.
Tatum is currently four weeks into his rehabilitation, having torn the tendon in Game 4 of an eventual second round playoff series loss to New York.
“(I) see him smiling and laughing and joking around,” Craig said. “I just look forward to his recovery, the progress he’s making, and it’s always good to see him in good spirits.”
Craig, 34, is an unrestricted free agent this summer. With Tatum on the shelf through much or all of 2025/26, he may be an option the team considers on another minimum-salary contract as it looks to fill out its wing depth.
There’s more out of Boston:
- The Celtics’ newest guard, Anfernee Simons, asked to be traded away from Portland even ahead of the 2024/25 season, a source informs Gary Washburn of The Boston Globe (subscriber link). According to Washburn’s source, Simons – an Orlando-area native – had been interested the Magic. Orlando addressed its scoring guard needs with its blockbuster deal for Desmond Bane earlier this summer, but Simons eventually got the change of scenery he sought.
- Although the Celtics have yet to officially be sold to new majority owner William Chisholm, the club’s impending sale is still on track to be approved and finalized in the not-too-distant future, sources tell Adam Himmelsbach of The Boston Globe (Twitter link).
- Thanks to their deals of Jrue Holiday and Kristaps Porzingis, the Celtics are now below the NBA’s punitive second luxury tax apron. Brian Robb of MassLive takes a look at potential next steps for Boston following those deals.
- During a Wednesday appearance on ESPN’s “First Take” (YouTube video link), NBA insider Brian Windhorst confirmed colleague Shams Charania’s report that the Celtics are getting calls about stars Jaylen Brown and Derrick White. Windhorst suggested that Boston’s decision on whether or not to move those players may happen sooner rather than later. “There are teams in the top 10 (of tonight’s draft) who are making offers,” Windhorst said. “And you’d potentially be able to get replacement players and a draft pick. I don’t know if Brad Stevens and his staff is in love with one of these top guys. Maybe they are. But that’s what is on the table. … I say at midnight, Jaylen Brown is still a Celtic and Derrick White is still a Celtic, and they run it back, and they get ready to go in ’26/27.”
Celtics Notes: Sale, Porzingis, Holiday, Hauser, White, Tatum
With the NBA’s Board of Governors set to vote on the Celtics sale later this month, there don’t appear to be any reasons that it would be rejected, writes Brian Robb of MassLive. New majority owner William Chisholm finalized the funding for the $6.1 billion purchase in May, with Robert Hale, Bruce A. Beal Jr. and Sixth Street among the other notable investors.
The group will take over a 51% stake of the team this summer, with the remainder of the purchase to be completed in 2028. Some concerns were raised about a two-stage deal after a similar arrangement in Minnesota had to be worked out in court, but commissioner Adam Silver didn’t raise any objections when asked about the purchase during his press conference Thursday before the start of the NBA Finals.
“I’d just say that the Boston Celtics deal I don’t think of as a staged deal,” Silver said. “They’re still in the process of completing it. It’s really more about a phase-out of current ownership. I think there Bill Chisholm, who is the incoming owner, he’s got to sort of straighten out some affairs in his life and his business. He’s currently located on the West Coast. I think he’s a huge admirer of (current majority owner) Wyc Grousbeck and the way he’s been running that team. Obviously their results speak for themselves.”
There’s more from Boston:
- Kristaps Porzingis, Jrue Holiday and Sam Hauser are all likely to be traded this summer if management is determined to get below the tax threshold, Robb states in a mailbag column. With a $10MM salary next season, Hauser should be easy to move without taking back another player in return, Robb adds. That won’t be true for Porzingis ($30.7MM) or Holiday ($32.4MM), but Robb suggests that Boston can reduce the salaries it takes on by getting other teams involved.
- As the Celtics consider how to cut payroll this summer, Derrick White should be kept off the table in any trade talks, contends Chad Finn of The Boston Globe. Finn points out that White holds the franchise record for the most made three-pointers in a season, and he’s an elite shot blocker for a guard. He’s only 30 with a relatively affordable contract, and he can be part of the foundation to rebuild around when Jayson Tatum returns from his Achilles injury.
- Tatum offered an update today on his recovery from surgery, tweeting, “Day 25… days starting to get a little easier.”
Aditya Mittal Joining Celtics’ New Ownership Group
Aditya Mittal is expected to be the second-largest stakeholder of the Celtics once the sale of the team to William Chisholm‘s group is completed, according to Scott Soshnick, Kurt Badenhausen, and Eben Novy-Williams of Sportico, who say Mittal could also become the team’s alternate governor in the future.
Mittal, the CEO of the steel giant ArcelorMittal and a member of one of India’s richest families, is investing roughly $1 billion in the Celtics, per Sportico.
Chisholm reached an agreement in March with the current Celtics ownership group to buy the team in two stages — his group is expected to assume 51% control of the organization this year and then buy out the remaining shares in 2028, with current governor Wyc Grousbeck remaining in that position for a few more years.
However, reporting in the wake of that agreement indicated that Chisholm’s bid – which initially valued the franchise at $6.1 billion (the valuation will reportedly increase to $7.3 billion for the second part of the sale) – was not yet fully financed. Subsequent reports have suggested that Chisholm’s bid is now fully financed and the sale is expected to close in the near future. Mittal’s investment helped close the funding gap, according to Sportico.
As Soshnick, Badenhausen, and Novy-Williams outline, Mittal is the son of Lakshmi Mittal, a Goldman Sachs board member since 2008 who is worth $23.9 billion, per Bloomberg. Goldman Sachs has served as the financial advisor for Chisholm’s group during the sale process.
In addition to Chisholm and Mittal, the new Celtics ownership group will include current minority stakeholder Robert Hale, Bruce A. Beal Jr., and private equity firm Sixth Street, as previously reported.
According to Sportico, Sixth Street is expected to own roughly 12.5% of the team once the sale is finalized. Earlier in the process, there were concerns about Sixth Street having committed more money to the bid than Chisholm, which wouldn’t be permitted, but that will no longer be the case once the deal is finalized. The majority stakeholder in an NBA franchise – Chisholm, in this case – must control at least 15% of the team.
William Chisholm Finalizes New Celtics Ownership Group
Impending Celtics owner William Chisholm has finalized his new ownership group and has obtained the necessary funds to purchase the team, according to a letter sent to existing shareholders that was obtained by Adam Himmselsbach of The Boston Globe.
The letter confirms much of what was reported a couple weeks ago by Front Office Sports, including that Chisholm had secured enough capital to complete the sale; the buyers will acquire approximately 51% of the franchise this summer at a valuation of $6.1 billion in the first of two transactions; the second transaction will occur in 2028 at a $7.3 billion valuation; and current owner Wyc Grousbeck will continue as CEO and governor through the 2027/28 season.
As Himmelsbach notes, the sale will not become official until it’s approved by the NBA’s Board of Governors in June or July, though that’s viewed as a formality. Chisholm’s exact stake has yet to be clarified, Himmelsbach adds, but he’s required to control at least 15% to be the majority owner.
Chisholm’s winning bid for the Celtics was not fully financed at the time the agreement was reached in March, but obviously that has changed over the past couple months. That also isn’t unusual for such a massive transaction, Himmelsbach writes.
According to the letter, current minority owners who are not joining Chisholm’s group will be required to sell 50% “plus one unit” of their interest in the Celtics while deferring the rest until the second transaction in 2028. They also have the option of selling their all of their shares this summer, according to Himmselbach, who reports that those stakeholders have until May 28 to inform Chisholm’s group of their decision.
Celtics Sale Expected To Close Soon
The group headed by William Chisholm has attained enough money to cover the cost of buying the Celtics, and the sale is expected to be finalized in the next week or so, sources tell Ben Horney of Front Office Sports.
Two sources describe the group’s status as “oversubscribed,” according to Horney, with more than enough capital on hand to complete the deal. Horney states that the buyers will acquire slightly more than 51% of the franchise in the first part of the transaction, but the exact stake for Chisholm hasn’t been clarified.
Front Office Sports reported last week last that Chisholm was still seeking investors, so progress has apparently been made in the past few days.
Horney notes that Chisholm’s group has also resolved an issue involving Sixth Street Partners, a private equity firm. Reports emerged after the sale was announced in March that Sixth Street Partners was contributing more money to the sale than Chisholm, which isn’t permitted. NBA regulations state that private equity firms cannot be the largest stakeholder in a team and that at least 15% of the purchase price must come from the controlling owner.
That issue was raised by current minority owner Steve Pagliuca, who also sought to buy the team. Horney states that Pagliuca wrote a public letter to Celtics fans last month promising that his proposal was “fully guaranteed and financed” and contained “no debt or private equity money that would potentially hamstring our ability to compete in the future.”
Pagliuca added that he and his partners were “ready to check back into the game” if Chisholm’s group couldn’t comply with NBA bylaws.
According to Horney, a plan remains in place to have current owner Wyc Grousbeck continue as CEO and governor through the 2027/28 season. A source tells Horney that there will be two parts to the sale, and current minority owners can also keep their positions in the organization until 2028.
The minority owners can sell their stakes for up to 20% more than the original price of the deal, Horney adds, under a revenue-based formula established by the league. He estimates that it will bring the actual value of the deal to almost $7.3 billion.
Several new minority owners will be identified in the coming weeks, and they could include a few familiar names to Boston sports fans, according to Adam Himmelsbach of The Boston Globe. A source tells Himmelsbach that Chisholm has made it a priority to establish ties with the local business community.
Himmelsbach also points out that no matter when the sale is finalized, it won’t become official until it’s approved by the NBA’s Board of Governors, probably in June or July.
Celtics Notes: Tatum, Porzingis, Horford, Sale
There are few signs of the right wrist injury that Jayson Tatum suffered in Game 1, except for a new celebration he has started using after clutch shots, writes Baxter Holmes of ESPN. Tatum credits rookie Baylor Scheierman for coming up with the move, in which he raises his arms and clasps his right wrist with his left hand. It was on display frequently during the two games in Orlando as Tatum scored 36 and 37 points to help the Celtics return home with a 3-1 series lead.
“I know what I’m dealing with,” Tatum said about his wrist. “My team knows how serious it is, but it’s that time of year. We’re all sacrificing our bodies and going through things. It’s the playoffs.”
Holmes notes that Tatum has been a consistent weapon for the Celtics against an aggressive Magic defense that limited them to 31 three-point attempts on Sunday, well below their season average of 48.4 per game. Sunday’s contest was tied at 91-91 with 4:16 left before Tatum delivered nine late points to pull out the victory.
“I thought in my head, like, ‘This guy is special,'” Kristaps Porzingis said. “He just has, I think also, from when I got here to now, he’s developed more of a killer instinct, and he’s been getting us big buckets in this series and last year’s playoffs. Thanks to him, we were right there, and today again he was phenomenal.”
There’s more on the Celtics:
- Porzingis knew he needed to try something different after being held to 28% shooting from the field in the first three games of the series, per Brian Robb of MassLive. He found the answer in Game 4, rolling to the basket for three easy dunks in the first quarter on his way to 19 points. “Just being a bit more towards the rim because they weren’t really – even though I haven’t shot the ball good in this series, they don’t really give up anything from the three,” Porzingis said. “They’re closing out really hard, so, gotta make an adjustment.”
- Al Horford swatted away five shots on Sunday, joining Kareem Abdul-Jabbar as the only players 38 or older with that many blocks in a playoff game, according to Khari Thompson of The Boston Globe. “There should be a separate stat sheet for guys like him because of the type of stuff that he does,” coach Joe Mazzulla said. “Just an unbelievable competitor. Made all the plays necessary to help us win.”
- Even though William Chisholm has been announced as the Celtics’ next owner, there are still things about the sale that remain “murky,” according to Ben Horney of Front Office Sports, including Wyc Grousbeck‘s role in the power structure once the purchase is finalized and the new ownership team’s plans to deal with an escalating payroll.
Celtics Rumors: Holiday, Porzingis, White, Horford, Ownership
While no one expects the Celtics to move on from Jayson Tatum or Jaylen Brown anytime soon, there are questions around the league about how long the club can carry one of the NBA’s highest payrolls, subjecting itself to significant luxury tax penalties and onerous second-apron restrictions, writes Jake Fischer of The Stein Line (Substack link).
The general consensus is that the Celtics might be willing to run it back again if they win another title this season. “You can’t break up a team that could be going for a three-peat,” one Western Conference executive told Fischer. But if Boston falls short of a championship? “They’re going to have to trade some guys at some point,” a team capologist said.
According to Fischer, league figures are keeping a close eye on guard Jrue Holiday and big man Kristaps Porzingis as possible trade chips later this year or next. Fischer suggests that guard Derrick White would likely have more trade value than either Porzingis or Holiday if he were made available this summer, but says no one he talked to seems to believe Boston would consider moving White.
If the Celtics do consider trading one of their top five highest-paid players, Holiday could be the most obvious odd man out due to a handful of factors, including his contract (three years and $104.4MM after this season) and Boston’s loaded backcourt.
As Fischer writes, besides White, the Celtics’ depth chart includes Sixth Man of the Year frontrunner Payton Pritchard and rookie Baylor Scheierman, whose development over the course of this season has been viewed by the team as very promising.
Here’s more on the C’s:
- Turning Al Horford‘s $9.5MM salary slot into a minimum-salary player next season would help the Celtics with their cap/tax situation, but the club likely wouldn’t welcome that possibility if it means losing Horford. Assuming the big man wants to continue his career, there are rival cap strategists who believe his market could start around the taxpayer mid-level exception ($5.7MM), Fischer writes.
- Sixth Street Partners, a private equity firm, has committed more money to William Chisholm‘s ownership bid than Chisholm himself, reports Dan Primack of Axios. That’s not permitted by NBA rules, which allow private equity firms to hold up to a 20% stake in a team as long as their share is less than that of the controlling owner (which must be at least 15%).
- In Primack’s view, Chisholm’s two options are to be granted some sort of waiver by the NBA to get around that rule or to bring in enough new investors that Sixth Street’s full check is no longer necessary and they’re contributing less to the bid than Chisholm. Silver said on Thursday that the option of a waiver isn’t being discussed, according to Fischer. “Not at all,” he said. “And while the deal in a preliminary fashion has just been presented to the league, at this time there’s no contemplation of changing our ownership rules.”
- Fischer also asked Silver on Thursday about the reported arrangement between Chisholm and outgoing owner Wyc Grousbeck that would keep Grousbeck in the CEO and governor positions through 2028. As Fischer notes, it sounds similar to what Mark Cuban wanted when he sold the Mavericks, but in that instance it wasn’t put into writing and didn’t happen. “I think the Grousbeck family and the buyer are still working through those arrangements on exactly how that would work in terms of CEO roles and governor roles during some transition,” Silver said. “I think the situation was very different in Dallas. There was a clear change in control of the franchise to Patrick Dumont and his family. Any decision as to what Mark’s role would be in basketball operations was a function of an arrangement to be made between Mark Cuban and Patrick. The ultimate governance was absolutely clear, as presented to our board, that the last word on any basketball activities or any significant decision for the franchise would be made by Patrick.”
- In his latest mailbag, Brian Robb of MassLive answers questions about Luke Kornet‘s upcoming free agency, the best first-round playoff opponent for the Celtics, and the ownership transition.
Celtics Sale Notes: Chisholm, Financing, Valuation, More
Although William Chisholm has reached a tentative agreement to buy a controlling stake in the Celtics, the NBA’s Board of Governors vote to approve the sale isn’t expected to happen until June, according to Dan Primack of Axios (hat tip to Brian Robb of MassLive.com).
That will give Chisholm some time to recruit additional investors, since his bid for the franchise isn’t fully financed, Primack writes. A report from Kerry A. Dolan of Forbes seems to corroborate this point, noting that Chisholm offered another billionaire an opportunity to buy a stake in the Celtics last Thursday.
Primack suggests that Chisholm’s best route to secure additional financing may be to reach out to the other three groups who were involved in the bidding process. Those groups are headed by Dan Friedkin, Stan Middleman, and current Celtics minority owner Steve Pagliuca.
However, according to Primack, Friedkin may already be moving on to pursuing an NHL expansion team in Houston. As for Pagliuca, his group’s bid was fully financed, so he may prefer to hold firm as a potential Plan B if Chisholm’s bid falls through rather than joining Chisholm’s group himself.
Primack also notes that Middleman’s offer came in below Chisholm’s but above Pagliuca’s. There has been no indication that offer was fully financed.
Here’s more on the Celtics’ impending sale:
- While the initial valuation of the franchise is said to be $6.1 billion for the controlling stake, the agreement calls for the valuation to rise to about $7.3 billion by the time Chisholm’s group buys out the remaining shares in 2028, according to Primack, who adds that the weighted price would work out to approximately $6.7 billion.
- Wyc Grousbeck‘s desire to remain in place as the Celtics’ CEO and governor until 2028 was dropped as a mandatory requirement at some point during the sale process, but Chisholm “smartly recognized” the value of agreeing to that condition when he made his offer, writes Primack. According to Axios, the terms of Pagliuca’s fully financed bid didn’t include Grousbeck retaining his CEO position.
- Primack suggests that the high price tag for the Celtics may reduce the likelihood of the NBA expanding to cities like Seattle or Las Vegas in the near future. As he explains, with the Celtics sale resetting the market for franchise valuations, other team owners may be able to get an influx of cash by selling small stakes in their teams rather than relying on expansion fees. Adding one or more expansion franchises to the league would result in a substantial one-time payment for existing teams, but would dilute each club’s share of media rights revenue going forward.
Celtics Notes: New Owner, Horford, Kornet, Hauser, Pritchard, Mazzulla
The record-setting $6.1 billion purchase price for the Celtics is just the beginning of William Chisholm‘s investment in the franchise. As Jay King of The Athletic notes, Chisholm is taking over a team with a massive salary and huge expectations that will become even more expensive if the core of the roster is kept together.
Boston’s payroll is projected to be in the neighborhood of $445MM next season in salaries and luxury tax, per John Hollinger of The Athletic. That’s without free agents Al Horford and Luke Kornet, who would push that total higher if they’re both re-signed.
As players waited out the sale process, Jayson Tatum talked about the importance of finding a new owner who understands “the culture” and Jaylen Brown expressed the need to “keep the emphasis on winning.” Both statements reflect the necessity for continued spending for the Celtics to remain at a championship level, as King adds that the fanbase will quickly turn on the new owner if talent is sacrificed to save money.
“That’s something that they’ll have to figure out,” Horford said. “Ultimately, they’ll be the new owners of the team, they’ll have to make those decisions. But this is my 18th season in the league and there are very few times when you get a special group or a certain window of guys that you can do some special things. So I’m sure that they will be aware of that but that’s something that you have to understand what you’re stepping into.”
There’s more from Boston:
- Bobby Marks of ESPN believes the roster is “sustainable” for the near future, even with the giant tax bills (Twitter video link). Marks points out that the Celtics have 11 players under contract for next season — including Tatum and Brown, who are both signed to long-term deals — and they’ll have two picks in the top 32 of this year’s draft. However, he adds that it could be hard to keep complementary players like Sam Hauser and Payton Pritchard long-term because of the effect they’ll have on the luxury tax.
- Coach Joe Mazzulla came away encouraged from his first meeting with the new owner, according to Adam Himmeslbach of The Boston Globe. Chisholm, a Massachusetts native and life-long Celtics fan, pledged to build on the team’s recent success. “Just continue to win championships, continue to be a high-level organization on and off the court, and he obviously has a lot of experience doing that in other endeavors,” Mazzulla said. “So just continuing to work to make the Celtics better, and then kind of give us a shot every year to go after a championship. So I’m excited about that.”
- Chisholm expressed similar sentiments to Shams Charania of ESPN (Twitter links). “The team is in a great place right now, and I’m very sensitive to that,” he said. (Current owner) Wyc (Grousbeck), (president of basketball operations) Brad (Stevens) and Joe have done amazing jobs. … My approach is to win and raise banners. That’s in the near term and the long term. I bleed green. I love the Celtics. When opportunity came up, I couldn’t pass it up. Wyc has done an incredible job. So why would you mess that up? I’ve had a couple of sitdowns with Brad and it’s been about aligning our goals and extending the window of this team.”
- Eric Fisher of Front Office Sports examines the record price tag, attributing it to the scarcity of pro sports franchises for sale and the NBA’s new media rights deal.
Celtics’ Grousbeck Talks Tax Aprons, Sale, Chisholm, Arena
Celtics governor Wyc Grousbeck has agreed to sell his controlling stake in the franchise, but the plan is for Grousbeck to remain in his current position with the team through the 2027/28 season, collaborating with William Chisholm and his investors as the defending champions transition to a new ownership group.
A major part of that transition will involve determining how long to maintain one of the NBA’s highest payrolls. The Celtics are operating over the second tax apron, restricting their ability to make certain roster moves and ensuring that their 2032 draft pick will become “frozen” this offseason, making it ineligible to be traded.
According to Grousbeck, those roster-related restrictions imposed on teams operating above the second apron are of greater concern than the prospect of repeatedly pay substantial luxury tax bills.
“It’s not the luxury tax bill, it’s the basketball penalties,” Grousbeck said during a WEEI appearance when asked about the Celtics’ ability to remain well above the tax line (story via Brian Robb of MassLive.com). “The new CBA was designed by the league to stop teams from going crazy. They decided that it’s not good enough to go after the wallets because the fans can be like, ‘Hey find someone who can afford to spend $500 million dollars a year or whatever it is, like the English Premier League. I know seven guys who own Premier League teams in England with no spending caps and most of them don’t know what the hell is going on.”
“The basketball penalties mean that it’s even more of a premium now to have your basketball general manager be brilliant and lucky,” Grousbeck continued. “Because you have to navigate because you can’t stay in the second apron, nobody will, I predict, for the next 40 years of the CBA, no one is going to stay in the second apron more than two years.”
This is the second consecutive season the Celtics have been in second-apron territory, so Grousbeck’s comments about the sustainability of that approach are eyebrow-raising.
Of course, it’s worth noting that not all of the apron-related penalties had been implemented during the 2023/24 season, so a third season above the second apron might be more viable for the Celtics or another team in ’25/26 than it would be going forward. Still, based on Grousbeck’s remarks, it sounds like some cost-cutting could be in Boston’s future.
Here are a few more noteworthy comments from Grousbeck’s media appearances this week:
On how the Celtics, specifically, plan to navigate the second apron in the short term:
(via Robb)
“We have Brad Stevens, the reigning Executive of The Year, and thank God we do. He’s the one who really brought us this championship with his brilliant moves –along with many other people — but Brad is at the forefront. He’s looking at this and is going to extend our window and make it work. We’ll find out in June or July what we’re going to do.”
On what he told Stevens, head coach Joe Mazzulla, and stars Jayson Tatum and Jaylen Brown about the sale:
(via Sanjesh Singh of NBC Sports Boston)
“I’ve actually talked to Jayson, Jaylen, Joe and Brad and said, ‘Just so you know…these small group of finalists are all great and they can all do the job, and we won’t let it go to anybody who would fall short of that.’ I told them basically just a few days ago when I saw them all at practice, ‘It’s OK. Don’t put it on your mind. Take it off your mind if you can. Because we’ve got you, this is going to go fine.’
“They said, ‘We trust you.’ Jayson Tatum literally looked at me and said, “I trust you, Wyc. Got it.’ And with good reason, hopefully, that he trusts me. Everything’s good on that front.”
On what advice he has given to Chisholm:
(via Singh)
“Be yourself. You are a fan. The fans are going to love you. We’re not going to win every game together. They want to see that you care, that you’re a fan who bought the team. That’s our group here, we’re fans who bought this team. You’re a fan who’s buying in…we’re going to be fans who’s running this team for Celtic pride on and off the court…When you do that, everything else follows.”
On why there are no plans to build a new arena that the Celtics would own:
(via Robb of MassLive.com)
“It’s not broken over there, and we have a great partnership with (the Jacobs family, which owns the Boston Bruins and the TD Garden). Honestly, there’s room for one arena in Boston, not two. Because you need to have concerts and events to fill out the bill. And if we ever talked to the Jacobs, we all decided to renovate the Garden very seriously – there have been huge, hundreds of millions of dollars of renovations. But if we ever decide to do anything, I’m sure we’d do it together and have both teams playing there.
“It shouldn’t be on everybody’s mind. We’ve got a lease in the Garden until, like, the 2030s, and we’ve got a good partnership with them, and we’ll both upgrade whatever we need to do to keep the fans happy, because we’re fans ourselves.”