If you consider the fact that Elon Musk bought a website, in the form of Twitter, for $44 billion, then Bezos getting an entire basketball franchise for only $6 billion seems like an utter bargain.
There is a common acceptance that as the richest people in society have gotten richer, they need more places to put their money.
It can’t all sit in a bank account, there is far too much of it, and there are always constant opportunities for investment and growth, be that for personal enjoyment as most sporting endeavors are, or for a further profit down the line.
High-profile takeovers of American sports franchises have been the order of the era of late, with the Denver Broncos and Washington Commanders both being sold for multi-billion-dollar amounts.
Interestingly, both of these deals were done with the purchasing side having a great number of elite investors forming a consortium, and there is speculation that Bezos himself was in talks to be involved with the Washington Commanders project, yet that didn’t pan out.
The Grousbeck family currently own the Celtics, but they recently released a statement confirming their intention to sell.
“The expectation is to sell the time in two parts with 51 percent going fairly soon, 49 percent then closing in second closing.
That’s the expectation in 2028,” Grousbeck told CNBC in July.
