The National Basketball Association (NBA) recently approved the record-breaking $6.1 billion sale of the Boston Celtics, one of the most storied teams in the sport. Founded in 1946, the Celtics have won 18 NBA championships — most recently in 2024 — making them one of the most successful teams in league history. 

J.P. Morgan advised the Celtics on the landmark sale, which comes at a time of significant transition for the team and the league. While franchise values continue to climb, additional financial considerations such as player salaries, salary caps and luxury taxes are becoming increasingly complex, impacting a team’s success on and off the court.

“The sale — which was the highest control price sale at the time — shows the powerful combination of the world’s best investment bank and the world’s best private bank, where the two together make a very powerful team,” said Mary Erdoes, CEO of Asset & Wealth Management at J.P. Morgan. 

J.P. Morgan has been a trusted partner in the sports world for years, having advised on numerous M&A transactions, and with a dedicated team in the Private Bank providing financing advice to sports teams and owners for more than two decades. Additionally, the Private Bank and Corporate & Investment Bank have worked together on numerous deals, with J.P. Morgan financing 10 of the last 15 major sports transactions.

With top sports franchises in the U.S. and Europe valued at over $400 billion, the sports industry has emerged as a substantial asset class, attracting significant interest from institutional investors.

“Sports transaction valuations have significantly increased and the deals have gotten more complicated,” said Eric Menell, global co-head of Sports Investment Banking and head of Media & Communications Investment Banking at J.P. Morgan. “These cross-firm partnerships have been pivotal in driving successful outcomes and delivering exceptional value for our clients.”