Irving Grousbeck, 90, wants his son Wyc to sell the Boston Celtics due to concerns over rising payroll and future losses from expensive contracts.
– Wyc Grousbeck, 63, assembled a costly roster, pushing the team's payroll to $500 million for the 2025-26 season after big summer contracts.
The team barely broke even during their 18th NBA championship season and faces $80 million in losses from luxury tax fines this upcoming season.
Boston will likely face higher fines in 2025-26 due to harsher salary cap penalties, with $225 million owed to 11 players.
Sources suggest the father-son conflict arose because Wyc wanted to "spend whatever it takes" while Irving wasn't keen on losing money.
Wyc Grousbeck announced the sale of the team for “estate planning purposes” but dismissed claims it was due to financial losses.
The Grousbecks have not required any additional investment from ownership in the 22 years since buying the team in 2003.
Irving Grousbeck, who helped buy the team for $360 million, did not respond to calls for comment on the situation.