Joe Lacob's Golden Legacy with the Warriors
When Joe Lacob purchased the Golden State Warriors in 2010 for $450 million, few could have predicted the seismic shifts the franchise would undergo. Over the past decade, under Lacob's ownership, the Warriors have not only clinched four NBA championships but have also seen their franchise value skyrocket.
"No chance, sorry. That ship sailed a long time ago — a long, long time ago. I'm a Warrior, this is my identity, it's our identity. I love what we've done. I love our fans, our arena (and) the last decade, and I just wanna do more. I just wanna create an even longer and even greater legacy for this organization," Lacob emphatically stated, dismissing any speculation about shifting allegiances.
One of the most monumental achievements under Lacob's tenure has been the construction of the Chase Center, a state-of-the-art arena situated in San Francisco. The arena has become a fortress for the Warriors and a symbol of their renewed dominance in the NBA.
The Boston Celtics: A New Chapter on the Horizon
Meanwhile, across the country, another storied franchise is preparing for significant changes. The Boston Basketball Partners L.L.C., the ownership group of the Boston Celtics, recently announced its intention to sell all its shares of the team. The decision, driven by estate and family planning considerations, will reshape the ownership landscape of one of the NBA's most historic franchises.
"Boston Basketball Partners L.L.C., the ownership group of the Boston Celtics, announced today its intention to sell all the shares of the team. The controlling family of the ownership group, after considerable thought and internal discussion, has decided to sell the team for estate and family planning considerations," the group declared in a statement.
According to the plan, a majority interest in the Celtics is expected to be sold by 2024 or early 2025, with the remainder of the shares set to change hands by 2028. Despite the pending changes, Wyc Grousbeck is anticipated to remain as the Governor of the team throughout this period.
The Celtics' Financial Commitments
Boston Basketball Partners L.L.C.'s decision comes at a time when the Celtics' financial commitments are reaching unprecedented levels. Forbes' October 2023 valuation placed the franchise's worth at a staggering $4.8 billion, a testament to the team's historical success and contemporary relevance.
On the player front, the Celtics have committed significant financial resources to secure their core talent. Jayson Tatum and Jaylen Brown, the dynamic duo driving the team's success, have inked massive deals. Tatum secured a five-year, $314 million extension over the summer, while Brown signed a five-year, $303 million deal the previous year. These commitments underscore the Celtics' ambition to remain competitive in the fiercely contested NBA landscape.
In addition to Tatum and Brown, Derrick White earned a four-year, $125 million extension. The salaries of Jrue Holiday and Kristaps Porzingis also exceed $30 million annually each, showcasing the franchise's dedication to assembling a championship-caliber roster.
However, these financial commitments come with a significant burden. The Celtics' payroll is projected to surpass $200 million by the 2025-26 season, with the expected luxury tax bill reaching an eye-watering $250 million. Overall, the total financial outlay for the Celtics that season is anticipated to exceed $450 million.
Looking Ahead
As both the Golden State Warriors and the Boston Celtics navigate their respective transitions, the common thread of ownership underscores the dynamic nature of the NBA. Lacob’s firm commitment to the Warriors showcases a model of stability and sustained success, while the impending sale of the Celtics represents a pivotal moment for a franchise steeped in tradition.
In an era where financial metrics and competitive excellence are deeply intertwined, the stewardship of these owners will undoubtedly shape the future trajectories of two of the NBA’s most emblematic franchises. Whether ushering in new eras or solidifying lasting legacies, the influence of ownership remains a cornerstone of the league's evolving narrative.