NBA Champions are set to be worth around $6 billion
Amazon mogul, Jeff Bezos, is casting his eye towards the world of sports once more, with the Boston Celtics reportedly the object of his desire.
The NBA franchise, which won the NBA Championship last season, are believed to be worth around $6 billion, and Bezos would have more than enough available capital to complete such a purchase.
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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.
What has made Jeff Bezos look at sporting opportunities?
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.
“I’m planning or expecting to stay on until 2028. We’re going to hire bankers and advisers. This is going to be quite the bidding process.”
In a segment on Bill Simmons’ podcast, the topic of whether Bezos would get his hands on the Boston franchise was broached.
“In the last few days there’s been some I think legitimate buzz about Jeff Bezos buying the Celtics, and I think it’s real. I think he’s gonna be one of the suitors,” Simmons said.
“Which got me thinking, why would Jeff Bezos, when he’s looking at the Celtics, what is he seeing? What does he want? I think the only way it makes sense, I mean, granted, he has a gajillion dollars – but it’s one of the crown-jewel franchises, right?
“That’s why you get it. To him it’d be no different than if he bought this famous, gigantic, 300-million-dollar yacht. But I think it’s real that he’s potentially in the mix for this.”
