Huge Update on Rumors of Jeff Bezos Buying USD 6 Billion Valued Boston Celtics: Report

Jeff Bezos' alleged involvement in the Boston Celtics' $6 billion deal has taken a significant turn. He has recently been connected to the discussions surrounding this proposal.

By Nitish Singh

Published on Aug 21, 2024 | 11:50 AM IST | 41.2K

Bezos not siding with Celtics

In recent weeks, speculation has been rife regarding Amazon CEO Jeff Bezos' alleged interest in acquiring a controlling stake in the NBA Champions, the Boston Celtics. Reports swirled around a potential deal that could have seen Bezos splashing a monumental $6 billion for ownership of the franchise.

However, a recent development has shed light on a significant shift in this narrative. Contrary to previous assumptions and despite initial rumors suggesting otherwise, the latest reports from The Information have revealed that Jeff Bezos has now pivoted from the prospect of purchasing the Boston Celtics.

This revelation comes as a surprise to many who closely followed the unfolding saga surrounding Bezos' supposed inclination towards a major sports ownership venture. American sports writer Bill Simmons initially stirred the pot by suggesting on his podcast that Bezos was eyeing a takeover of the Celtics with the NBA purportedly seeking a staggering $6 billion for the transaction to materialize.

Nevertheless, subsequent updates have debunked this notion, with Nick Wingfield of the Information disclosing that Bezos has indeed cooled off on the idea of acquiring stakes in the prestigious Boston-based NBA team.

The current owners of the Boston Celtics, however, remain keen on exploring other offers for the sale of the franchise. Their intentions to seek new ownership align with estate and family planning interests, signaling an imminent change in the ownership landscape of the defending NBA champions.

Simmons had previously pointed to Bezos as a potential frontrunner in the competition to secure ownership in Boston, underscored by the league's apparent valuation of the team at the noteworthy $6 billion mark.

Speculations had also suggested that the NBA's strategic direction might involve introducing two to three expansion franchises, with hefty price tags anticipated for interested parties looking to join the elite ranks of NBA team owners.

However, earlier, rumors were also suggesting that the Boston Celtics are on the brink of an ownership shake-up that could involve two prominent individuals: basketball legend LeBron James and business magnate Jeff Bezos.

Insider information has hinted that Jeff Bezos, the founder of Amazon with a net worth of around $195.7 billion, has emerged as a potential suitor for the iconic franchise. On the other hand, a group with ties to Los Angeles Lakers star LeBron James, the Boston Red Sox Owner Fenway Sports Group (FSG) and RedBird Capital, is reportedly seriously considering making a bid for the Celtics. This development could make LeBron James a partial owner, as he holds a 1% stake in the company.

Also Read: Hours After Jeff Bezos’ Interest In Buying Celtics Goes Viral, His Biggest Competitor Drops Out Of Ownership Battle