When fans think of owners of sports clubs, the first image that comes to mind is likely elderly men in suits who pay more attention to dollar signs than wins and losses.
Wyc Grousbeck isn’t your typical owner.
The Celtics are on the verge of another championship, adding to the franchise’s storied history. Boston has a chance to close out the 2024 NBA Finals on Friday night when the Celtics take on the Mavericks in Game 4.
For Grousbeck, the Larry O’Brien Trophy may signify more cash coming his way, but that’s not what is important to him.
“I don’t want your lunch money or your college fund,” Grousbeck said to the Boston Globe. “You’re all very well-to-do people. I want a small percentage of your net worth. You put it into the Celtics and alongside me, I will run it. But I will treat you all like partners. But this is not about a percentage return or anything like that. This is about winning championships… so we will be paid in enjoyment.
“We will be paid in parades.”
Grousbeck won his first NBA championship in 2008, when Paul Pierce, Kevin Garnett and Ray Allen brought a title to Boston, breaking a lengthy streak of winless seasons. Now, the Celtics are on the brink of a second championship in the Grousbeck era.
Here is more to know about the Celtics owner and his background.
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Who owns the Celtics?
The majority owner of the Celtics is Wyc Grousbeck, an entrepreneur who was born in Worcester, Mass.
Grousbeck is one of four members that make up the Boston Basketball Partners, the investment group that purchased the Celtics in 2002. Included in the investment group are H. Irving Grousbeck (Wyc’s father), Stephen Pagliuca and The Abbey Group.
Who is Wyc Grousbeck?
Grousbeck is an entrepreneur who hails from Massachusetts. He is the son of H. Irving Grousbeck, who co-founded Continental Cablevision in 1964.
While he was born in Worcester, Grousbeck went to high school at Noble and Greenough School in Dedham. He attended Princeton University in 1983, joining the rowing team that went undefeated and claimed the Ivy League and NCAA rowing championships. Grousbeck earned a J.D. degree from Michigan in 1986 and an M.B.A. in 1992 from Stanford.
Out of college, Grousbeck spent seven years at Highland Capital Partners, a venture capital firm. After his time at the firm, he formed the Boston Basketball Partners, which purchased the Celtics in 2002 for a reported $360 million.
In addition to his work in basketball, Grousbeck became chairman of the Massachusetts Eye and Ear Infirmary, helping a campaign that led to the research hospital joining the Mass General Brigham system. He also co-founded Causeway Media Partners, a group that invests in media companies and sports technology.
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How long has Wyc Grousbeck owned the Celtics?
Grousbeck has been the majority owner of the Celtics for over two decades. As one of the leading members of Boston Basketball Partners, he and the group purchased the Celtics in 2002 for $360 million.
The team now has an estimated value of $4.7 billion.
Wyc Grousbeck net worth
Grousbeck has an estimated net worth of $400 million, according to Celebrity Net Worth.