Report: LeBron James, Fenway Sports Group will not be buying the Celtics

Throughout the summer, there has been speculation regarding the potential buyers of the Boston Celtics. Recent reports suggest that Fenway Sports Group will not be entering the bidding process.

According to Dave Powell of the “Liverpool Echo,” LeBron James, John Henry, and Co. are focusing on acquiring a new NBA franchise in Las Vegas, rather than pursuing the historic Boston Celtics.

The Boston Celtics, the current NBA champions, were put up for sale by Wyc Grousbeck this summer, sparking rumors of FSG’s interest due to their strong ties to the city. However, sources have dismissed this speculation, pointing towards Celtics shareholder Stephen Pagliuca as a potential buyer.

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This is fantastic news.

The Henry-led FSG had been a rumored suitor for the Celtics ever since news broke in June that the team was up for sale. This of course sparked angst amongst the Celtics faithful, due to the first-hand experience the city has had with FSG’s ownership of the Boston Red Sox.

Ownership can make or break a franchise’s championship hopes. In the case of the Sox, there’s a feeling that the team could’ve had more success in recent years if ownership hadn’t been so set on saving money.

Franchise staples like Mookie Betts, Chris Sale, and Xander Bogaerts all wound up being let go in favor of keeping the checkbooks closed.

It’s tough to imagine the Celtics dealing with that same treatment, as Wyc Grousbeck has essentially done the opposite. After already being over the CBA’s second-apron, Boston re-signed or extended just about everyone from last season’s championship squad.

In the 2025-26 season, the team could face up to $500 million in luxury tax penalties, according to ESPN’s Bobby Marks. This doesn’t bode well for making a profit, which is reportedly one of the reasons that Wyc’s father, Irv, has pushed for this sale.

The sale process itself will be getting underway rather soon, per Grousbeck’s recent chat with The Boston Globe’s Adam Himmelsbach.

Grousbeck mentioned the importance of finding a “great buyer” to take over the team.