The Boston Celtics sold for a record-shattering amount this week. But the expensive franchise’s new ownership is likely to start slashing what is becoming an unfeasible payroll after the season.
The Celtics are one of the most iconic franchises not just in the NBA, but in all of North American sports. They have the most championships in league history and have had several dynasty teams. And they currently have their latest taking to the court at TD Garden.
Boston is headed to an 11th straight trip to the NBA playoffs this season. They have been in six Eastern Conference Finals and two NBA Finals during that time and won their most recent title this past season. However, to finally get the team over the championship hump last season, and contender for another this year, their payroll has gotten very expensive.
Furthermore, they are on the hook to top stars Jaylen Brown and Jayson Tatum for over $600 million until 2029. While winning championships is great, their current spending isn’t feasible on a business level. This week it was announced that the team was being sold for $6.1 billion to Bill Chisholm. The managing director and co-founder of the California-based private equity firm Symphony Technology Group.
On Friday, The Athletic’s NBA insider Zach Harper claimed ChisholM will have some tough decisions to make soon. And revealed two high-impact players that could be on the chopping block to slash payroll this summer.
Are the Boston Celtics likely to trade Jrue Holiday this summer?
Heading into next season, with tax penalties, the Boston Celtics payroll is projected to be a whopping $500 million. While they are making a lot of money by winning, that cost just is not sustainable long-term. The current ownership was willing to pay the exorbitant costs in the short term so they could win a title and boost the team’s value for a sale. It’s no coincidence they put the team on the market right after winning an NBA title last spring.
With that in mind, Harper offered up two key players from their title team who are likely to be on the chopping block to cut costs this summer.
“They could start by trading Jrue Holiday this summer. It would bring them below the second apron and just above the first apron,” he wrote. “It would greatly reduce that tax penalty, and they’d probably see enough flexibility to bring Al Horford and/or Luke Kornet back on reasonable deals. But we’re still looking at the Celtics having to eventually break up parts of this team. It wouldn’t be shocking to see Kristaps Porziņģis go soon, as he has one year left on his deal.”
It will be interesting to see how Chisholm handles things this summer. Large purchases often come with debt that needs to be paid off. Does he look to start saving money soon, or extend the honeymoon period one more year and then break things up?
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