Celtics’ Aditya Mittal and Wyc Grousbeck are making a significant move by bidding to buy the NFL’s Seattle Seahawks. This news was confirmed by several league sources.
If their bid succeeds, Mittal could become the controlling owner, as he would secure at least a 30% stake, while Grousbeck would hold a smaller share. Notably, both will continue their roles with the Celtics, showing their commitment to the basketball team.
Mittal, the CEO of ArcelorMittal, comes from one of India’s wealthiest families. Last year, he invested $1 billion into a group that bought the Celtics from Grousbeck’s family, initially valued at $6.1 billion. Grousbeck currently owns a 13% stake in the Celtics, which is expected to drop to around 3% by 2028 as the deal concludes.
While Mittal lives in London, Grousbeck makes his home in Boston, often appearing at Celtics games. If their Seahawks bid is successful, both plan to have homes in Seattle as well.
Before this, Mittal had considered leading a bid for the Celtics but later chose to support Bill Chisholm, pledging $100 million, which remarkably grew to $1 billion as his interest in the franchise deepened.
Sources say that Chisholm has allowed Mittal and Grousbeck to pursue the Seahawks. Their partnership blossomed during the Celtics’ bid process, and they seem ready for this new challenge.
Owning stakes in both NBA and NFL teams is becoming more common. Notable examples include Josh Harris with the 76ers and Commanders, Gayle Benson with the Pelicans and Saints, and Stan Kroenke with the Nuggets and Rams.
Recent figures from Sportico value the Seahawks at approximately $6.59 billion, but the final price may far exceed this estimate. The team is being sold from the estate of Paul Allen, a co-founder of Microsoft who passed away in 2018. His will mandated the sale of the Seahawks and the Portland Trail Blazers, the latter being sold for around $4.25 billion.
As the bid for the Seahawks unfolds, it reflects a growing trend of crossover ownership in professional sports. With more owners looking to expand their portfolios, the upcoming sale could reshape the landscape of team ownership.
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