The defending NBA champions, the Boston Celtics, are reportedly up for sale, and a list of potential bidders includes names as notable as Wynn Resorts and its founder, Steve Wynn. Jayson Tatum, star player of the Celtics, continues to lead the team’s charge, but now, off the court, speculation swirls about the franchise’s future ownership.
In a recent episode of “The Greg Hill Show,” sports talk radio host Courtney Cox revealed the three frontrunners for purchasing the Celtics: Amazon founder Jeff Bezos, Boston Red Sox President Sam Kennedy, and Encore Boston Harbor, Wynn’s casino hotel situated in Everett, Massachusetts. Notably, Encore Boston Harbor holds the distinction of being the first property to acquire a sportsbook license in Massachusetts.
The involvement of Sam Kennedy suggests that Fenway Sports Group, which owns the Red Sox and the NHL’s Pittsburgh Penguins, might be preparing to make a bid. On the other hand, Bezos has long expressed a desire to own a professional sports team. Last year, he was one of the bidders for the NFL’s Washington Commanders, although that team was ultimately sold to another group.
However, the likelihood of Wynn Resorts’ involvement remains uncertain. The source cited by Cox is reportedly not from Boston, and neither Steve Wynn nor Wynn Resorts has commented on any interest in purchasing the Celtics. Financially, acquiring the historic NBA team could be a strain on Wynn Resorts, especially given its current projects, such as building what might be the first casino resort in the United Arab Emirates and pursuing a gaming license in New York City. The Celtics are valued at approximately $4.7 billion, making them the fourth-most valuable team in the NBA, and well over half of Wynn’s current market capitalization of $8.29 billion.
Some speculate that the chatter linking Wynn Resorts to a potential bid might stem from the company’s ambitions to expand Encore Boston Harbor and its surrounding areas. Rumors suggest that this expansion could include a new arena for both the Celtics and the Boston Bruins, and possibly the relocation of Celtics’ offices to Everett.
Owning a team despite gaming interests isn’t unprecedented in the NBA. Tilman Fertitta, owner of the Golden Nugget casinos, owns the Houston Rockets, while Dr. Miriam Adelson and Patrick Adelson recently took majority control of the Dallas Mavericks. Miriam Adelson is the largest shareholder in Las Vegas Sands, with Patrick serving as president and COO of the company.
Steve Wynn, though a native New Englander and possibly a Celtics fan, seems an unlikely candidate for this high-stakes purchase. At 82 years old, his net worth of $3.7 billion would necessitate substantial debt to cover the Celtics’ anticipated record-setting price. Furthermore, Wynn no longer has any ties to the gaming company that bears his name.
If the Celtics’ sale price nears $5 billion as expected, it might be beyond what Wynn can afford, but not for Jeff Bezos. With an estimated worth of $190.4 billion, Bezos has the financial muscle to easily cover the cost.
As the situation unfolds, the fate of the storied Boston Celtics remains in the balance, with its next owner potentially reshaping the future of the franchise.
