Why are the Celtics for sale? Jayson Tatum reportedly 'shocked' by reports

Less than a month after Jayson Tatum and Jaylen Brown helped the Boston Celtics win their 18th NBA championship, the owners have put the franchise up for sale. The news came as a shock to many, including Tatum, who recently agreed to the largest contract in NBA history.

According to Tim Bontemps of ESPN, the majority ownership group led by Wyc Grousbeck and business partner Steve Pagliuca is making the franchise available for sale. The duo bought the Celtics back in 2002 for just $360 million, but it's now worth around $4.7 billion.

Grousbeck released a statement regarding a potential sale that could happen later this year or next year. The billionaire owner will remain with the franchise as its governor until 2028. Under their ownership, the Celtics won two NBA championships in 2008 and 2024.

According to the Sports Business Journal, the Boston Celtics ownership group decided to sell the franchise due to a variety of reasons. The NBA's newest media deal worth around $76 billion, the cost of maintaining a championship team above the second tax apron and potential expansion fees meant that it was the perfect time to cash out.

The sale news comes after the Celtics agreed to several extensions for players such as Jayson Tatum, Derrick White and Xavier Tillman.

"I look at this and say, 'This is the most rational thing I've ever seen somebody do.' They've got an appreciating asset where good news is coming with media deals and potential expansion fees. On a team that is just coming off a massive high but is going to be wildly expensive to keep together," one NBA source told SBJ.

However, the Celtics released a statement explaining that the sale of the franchise is "for estate and family planning considerations." The expected sale will likely break the record currently held the Mat Ishbia's purchase of the Phoenix Suns last year. The Celtics could be sold for around $5 billion.

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Jayson Tatum shocked by Boston Celtics being put up for sale

Jayson Tatum shocked by Boston Celtics being put up for sale (Photo by Maddie Malhotra/Getty Images)

According to Chris Mannix of Sports Illustrated, Jayson Tatum was caught off guard by the Boston Celtics ownership's decision to put the team for sale. Tatum has been with the Celtics since the franchise drafted him third overall in 2017. He finally helped the team win a championship this season.

Mannix reported that Tatum was "shocked" about the news and told people during his camp in Las Vegas his thoughts on the matter. He just wants the best for the franchise, but is hoping that whoever purchases the team will not change the structure of the current team.