Latest news with #WycGrousbeck
Yahoo
24-05-2025
- Business
- Yahoo
How do second-apron penalties limit Celtics? Here's one tangible example
How do second-apron penalties limit Celtics? Here's one tangible example originally appeared on NBC Sports Boston Back in March, when current Boston Celtics lead owner Wyc Grousbeck was asked about the dreaded 'second apron' in the NBA's new collective bargaining agreement, he noted that its biggest impact related to roster building, not money. Advertisement 'It's not the luxury tax bill, it's the basketball penalties,' Grousbeck told WEEI at the time. '… The basketball penalties mean that it's even more of a premium now to have your basketball general manager be brilliant and lucky. ' … I predict, for the next 40 years of the CBA, no one is going to stay in the second apron more than two years.' So, what exactly are these penalties that led Grousbeck to make such a bold prediction? Here's a list of the restrictions on teams that exceed the second apron of the luxury tax: Teams cannot sign a waived player who had a salary of at least $14.1 million Teams cannot use a trade exception generated by aggregating the salaries of multiple players Teams cannot include cash in a trade Teams cannot use a trade exception generated in a prior year First-round picks seven years out are frozen (unable to be traded) A team's first-round pick is moved to the end of the first round if they remain in the second apron for three out of five seasons If your eyes glazed over there, we don't blame you. That's a lot to digest. But the latest Celtics-related report provides a tangible example of how the second apron limits teams like Boston, which is currently $20 million over that threshold entering the offseason. Advertisement Longtime NBA journalist Marc Stein reported earlier this week that Boston may explore trading Jrue Holiday this offseason in its quest to trim salary and get under the second apron. On Wednesday, Stein's colleague Jake Fischer noted that 'multiple rival executives' believe the Celtics would need to include 'some form of incentive (such as draft compensation)' in such a deal to convince a team to take on the $104 million remaining on Holiday's contract. For starters, second-apron restrictions prevent the Celtics from including cash in a hypothetical Holiday trade, which means they'd need to go the draft pick route. But the second apron also prevents Boston from trading its 2032 first-round pick, which would create a ripple effect that would leave Brad Stevens and Co. with very limited draft resources to trade, as CLNS Media's Bobby Manning lays out here: Even if the Celtics can complete a trade of Holiday using one of the picks above, their lack of future selections complicates their ability to make other deals that may require draft picks as sweeteners, such as potentially moving big man Kristaps Porzingis and his expiring contract. Advertisement The draft pick restriction of the second apron is a big reason why the Los Angeles Clippers and Denver Nuggets were forced to let Paul George and Kentavious Caldwell-Pope, respectively, walk in free agency for no return, and it's possible the Celtics could meet the same fate with Porzingis if they can't find a trade partner with their current assets. The Holiday example underscores the importance of Boston at the very least shedding $20 million in salary this summer to ensure the team isn't subject to the same second-apron penalties next offseason. That may require some hard decisions, but with Jayson Tatum already expected to miss most or all of the 2025-26 season as he recovers from Achilles surgery, the short-term pain may be worth the long-term gain.
USA Today
23-05-2025
- Business
- USA Today
Will the new owner of the Boston Celtics make big changes to the team this NBA offseason?
Will the new owner of the Boston Celtics make big changes to the team this NBA offseason? Will the new owner of the Boston Celtics make big changes to the team this coming NBA offseason? The Celtics are currently staring down the most expensive tax bill and payroll in the history of the league, just as new majority owner Bill Chisholm will take control of the storied ball club. The former Celtics majority owner and future team CEO Wyc Grousbeck recently sat down with the media to talk about how he does not believe that ANY ball club will remain in the new collective bargaining agreement (CBA)'s punitive second apron in terms of spending for more than two seasons, implicitly including the Celtics in that assessment. If that notion holds true, cuts are on the way -- but the proverbial elephant in the room is how big (and which players) might be on the move. The folks behind the "WEEI Boston Sports Original" YouTube channel put together a clip for their "Jones and Keefe" show recently to talk over the potential incoming changes. Take a look at the clip embedded below to hear what they had to say for yourself.
Boston Globe
15-05-2025
- Business
- Boston Globe
Bill Chisholm's bid to purchase Celtics fully funded and new ownership group finalized, shareholder letter says
Chisholm's group will purchase 51 percent of the team this summer, with the balance closing in 2028. Lead governor Wyc Grousbeck is expected to remain in control until the end of the 2027-28 season. Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up The Thursday letter from Boston Basketball Partners lays out how the process will unfold for existing shareholders in the coming months. Advertisement Those who are not joining Chisholm's new ownership group will be required to sell 50 percent 'plus one unit' of their interest in the team and will have the option of deferring the rest until 2028. Or shareholders can sell 100 percent of their interest at first closing. Shareholders have until May 28 to disclose their elections, according to the letter. Although Chisholm will take on the controlling stake this summer at the $6.1 billion valuation, in 2028 the remaining shares will be sold at a valuation closer to $7.3 billion, in large part due to the incoming windfall from the $76 billion media rights deal the NBA recently signed. Advertisement It is unclear what percentage of the team Chisholm is purchasing, but he is required to own at least 15 percent as lead governor. Some recent reports Chisholm and Grousbeck have sat together in TD Garden courtside seats often in recent months, including during the Celtics' 127-102 romp against the Knicks in Game 5 of the Eastern Conference finals Wednesday night. Chisholm was wearing a No. 0 Jayson Tatum jersey in support of the Celtics superstar who ruptured his Achilles' tendon in the final minutes of Boston's Game 4 loss. Adam Himmelsbach can be reached at
Yahoo
15-05-2025
- Business
- Yahoo
Are major changes coming to the Boston Celtics this offseason?
Are major changes coming to the Boston Celtics this offseason? The Celtics are poised to have the most expensive payroll and tax bill in the history of the NBA thanks to the punitive new rules of the league's collective bargaining agreement (CBA), which was created in part to make life difficult for ball clubs like Boston with very stacked (and expensive) rosters. With the team's former majority owner and future CEO Wyc Grousbeck all but confirming the Celtics will at least cut enough salary to dip below the dreaded second apron next season, medium-sized to major changed to the team could very well be on the horizon for Celtics fans. Advertisement The folks behind the "WEEI Boston Sports Original" YouTube channel put together a clip for a recent episode of their "Greg Hill" show to talk over the potential changes to the storied team's roster in depth. Check it out below to hear their thoughts for yourself! This article originally appeared on Celtics Wire: Are major changes coming to the Celtics this offseason?
USA Today
15-05-2025
- Business
- USA Today
Are major changes coming to the Boston Celtics this offseason?
Are major changes coming to the Boston Celtics this offseason? Are major changes coming to the Boston Celtics this offseason? The Celtics are poised to have the most expensive payroll and tax bill in the history of the NBA thanks to the punitive new rules of the league's collective bargaining agreement (CBA), which was created in part to make life difficult for ball clubs like Boston with very stacked (and expensive) rosters. With the team's former majority owner and future CEO Wyc Grousbeck all but confirming the Celtics will at least cut enough salary to dip below the dreaded second apron next season, medium-sized to major changed to the team could very well be on the horizon for Celtics fans. The folks behind the "WEEI Boston Sports Original" YouTube channel put together a clip for a recent episode of their "Greg Hill" show to talk over the potential changes to the storied team's roster in depth. Check it out below to hear their thoughts for yourself!
