Jim Breyer’s Post

The recent trend of casino families acquiring stakes in professional sports teams is a notable development. This aligns seamlessly with the strategic direction of Sports Kitchen Entertainment Group, as we are actively establishing our own sports enterprises, media platforms, and a comprehensive representation network for multiple sports and athletes. The rationale behind our approach is grounded in economic realities. The acquisition of a sports team, often costing billions of dollars, inevitably leads to increased prices for tickets, broadcasting rights, branded merchandise, and overall fan engagement. Such high expenditures can seldom be recuperated without imposing financial burdens on the fan base. In contrast, our vision is to construct a future where fans are not merely spectators but stakeholders. We aim to democratize the ownership of sports entities, thereby returning sports to its rightful owners - the fans. While our strategy is more intricate than this brief overview, the essence is to foster a more inclusive and financially accessible sports environment. #sportsbusiness #GamblingIndusrty #SportsBetting #Casino #Mavericks #MarkCuban #Adelson #LasVegasSands #DallasMavericks #NBA #LasVegas

Boston Celtics sale: Owner Wyc Grousbeck planning to sell after 2024 National Basketball Association (NBA) title, team valued at nearly $5 billion. The Boston Celtics, valued at $4.7 billion last year, just secured their 18th championship against the Dallas Mavericks. Their owner, Wyc Grousbeck, wants to sell his majority stake in the team. Grousbeck, who led the Boston Basketball Partners, originally purchased the team in 2002. Under his leadership, the team celebrated its first NBA championship in 2008. The Celtics have announced that a sale is expected either by the end of 2024 or early 2025 and Grousbeck will continue as the team's owner until a sale is finalized in 2028. The Celtics, a cornerstone of the NBA, have a rich history and are often considered one of the league's most valuable franchises. In 2023, Forbes valued them at $4.7 billion, placing them fourth in the league's valuation rankings, behind the Golden State Warriors, New York Knicks, and Los Angeles Lakers. It's worth noting that Grousbeck purchased the team 22 years ago for a mere $360 million. Now, Grousbeck will join the group of NBA mainstays that have cashed out of the league in a reasonably short span. Soon, Boston will have hefty luxury tax payments coming, and they may limit their flexibility to improve the roster, given the constraints that come with the second apron.  By: Sam Quinn cbssports #BostonCeltics #NBA #majoritystake  #WycGrousbeck #CBSSports #Forbes  #championship #LosAngelesLakers  #NewYorkKnicks #GoldenStateWarriors

🏀 In 2002, Wyc Grousbeck bought the Boston Celtics for $360 Million. In 2023, the Celtics were valued at $4.7 Billion. That's an increase of 1200%. Grousbeck is now looking to sell the team and it will likely sell for a value much higher than $4.7 Billion considering the continuing increase of team values and the positive momentum specifically for the Celtics, which includes winning the NBA Championship this year. While I expect NBA team values to keep growing, it's a great time for Grousbeck to sell after such a strong return on investment. NBA Teams are a fantastic investment and the Boston Celtics are such a cultural monument that the next person or group who buys the Celtics will have not only a power house sports team with religiously devoted fans, but also a great financial investment for the future. In 2001, the average value of an NBA franchise was $207 Million. In 2023, the average value of an NBA franchise was $3.85 Billion. (Via Statista) That's an increase of 1750% and we're looking at the average, not even zooming in on the most valuable teams. For example, this year Ron Burkle sold the NWSL team San Diego Wave FC for $120 Million after paying only $2 Million for the team two years ago. That's an increase of 5900%. While not everyone can afford to buy the Boston Celtics or the San Diego Wave, I've seen a lot of people look more deeply into sports investments for similar returns. There is an explosion of new sports formats, leagues, and teams as people take sports more seriously as an asset class. Each case study like Ron Burkle or Wyc Grousbeck and subsequent year that team values increase will encourage more investors to look more closely at sports. #celtics #sports #sportsbusiness #nba #basketball #investment

🏀 Boston Celtics Up for Sale After Winning Record 18th NBA Championship The Grousbeck family is selling a majority interest in the Boston Celtics just weeks after the franchise secured its record 18th NBA championship. The Grousbecks, leaders of the Boston Basketball Partners group, acquired the Celtics for $360 million in 2002. They announced that the sale is for "estate and family planning considerations." 🏀💰 📅 The sale is expected to be completed either in late 2024 or early 2025. Wyc Grousbeck will remain the team’s governor until 2028. Celtics co-managing partner Stephen Pagliuca, who also owns a stake in Serie A side Atalanta, confirmed his participation in the bidding process. Pagliuca expressed his dedication to the team and his intention to remain involved. 🗓️🔄 📈 The Celtics were valued by Forbes at $4.7 billion, making them the fourth-most valuable team in the NBA. The sale is likely to set a new NBA record, surpassing the $4 billion paid for the Phoenix Suns in December 2022. Other members of the ownership group may also seek to retain or increase their stakes. 📊💸 🏟️ Additionally, the Celtics and Bruins’ TD Garden naming rights deal has been extended until 2045. The potential sale could be structured similarly to the halted Minnesota Timberwolves deal, which faced challenges and is currently in mediation. NBA Commissioner Adam Silver has expressed concerns about stepped transactions, indicating a possible reassessment of such deals. 🏟️🗣️ 📸: Finals MVP Jaylen Brown hoists the Bill Russell Trophy during Friday’s parade in Boston / NBA #BostonCeltics #NBASale #GrousbeckFamily #StephenPagliuca #Basketball #NBAChampions #TDGarden #SportsBusiness #TeamOwnership #NBAValuation

So much potential in this area where I grew up. Many options for urban renewal.

Wyc Grousbeck bought the team for $360 million in 2002 and just delivered the franchise’s second championship during his tenure—a league-record 18th title. As the NBA continues to reach new heights, it makes Grousbeck’s entry seem almost clairvoyant. The league is reportedly negotiating a new media rights package that amounts to $76 billion in fees over 11 years, more than double its previous annual rate, while basketball continues expand globally and captivate fans in overseas markets. A recent survey by S&P Global Intelligence reported that 52% of online adults in China watch NBA games, as well as two-thirds of basketball viewers in France and Italy.

Need a refresher on what the 2024 NBA Draft class is looking like? Check out my latest mock draft below from Dizzle Dynasty Sports! ⬇

Very smart article by CNBC's Contessa Brewer and Jessica Golden on the intentions behind the sale of the Dallas Mavericks. It is fascinating to connect the dots behind how the rise of #sportsbetting and its future in Texas plays into the sale. #sportsbiz

Check out my latest article for BVM Sports!