The NBA has always thrived on evolution, whether on the court, in player contracts, or in the boardrooms where billion-dollar decisions are made. But right now, we are witnesses to a transformation that could change the league forever. And nobody is talking about it quite like Carmelo Anthony.
The 10-time NBA All-Star, who has long been vocal about player empowerment and ownership opportunities, recently dropped some unfiltered truth. The case in point here? The Boston Celtics’ ownership shake-up. To put it more succinctly, he was criticizing the recent $6.1 billion sale of the Boston Celtics to a group led by private equity mogul William Chisholm. And to say he had a bold take would be an understatement.
On his podcast, ‘7 PM in Brooklyn with Carmelo Anthony’ shared on YouTube, Anthony said, “When it comes to the Boston Celtics, right? Right? Like, I said, what’s the guy? Bill Chisholm? Private equity, right? Private equity? Yeah. See? That’s another thing people ain’t talking about. Private equity? Private equities gonna come in and now fuck the game up. They’re gonna change the game.” Why so, you wonder?
Aug 10, 2024; Paris, France; Carmelo Anthony cheers in the second half against France in the men’s basketball gold medal game during the Paris 2024 Olympic Summer Games at Accor Arena. Mandatory Credit: Rob Schumacher-USA TODAY Sports
Well, he continued: “Because that money is a lot different with private equity. Yeah, it is. You could raise now, you can raise and raise and raise and raise, and you got people that really wanna be into sports. Yeah, holler the w, man. Holler the w. But that’s a lot of work, I get it right. You gotta have a clear-cut plan.” Anthony’s keen take on the changing ownership structures and the impact of funneling in private equity reflected on how bringing in a business-first, return on investment mentality to the whole scenario might transform the game altogether.
For years, players like Carmelo Anthony have expressed their wish to transition from playing and being stars on the hardwood to having a claim over the ownership stakes in franchises. With the new private equity angle entering the ownership scenario, these aspirations are facing a steep barrier. Let us see how.
Carmelo Anthony’s ownership dreams and what’s next
The ownership aspiration held by Carmelo Anthony is not very far-fetched. But, with private equity-led ownership entering the game at an unprecedented rate, it acts as a barrier to ownership. You might ask why. Let me explain. Private equity firms don’t just want part-ownership. They want complete control. The power to move assets, change the squad and restructure teams, and maximize profitability by any means possible makes for a far different game than a former player coming in with passion, basketball knowledge, and a vision for the franchise.
When Carmelo Anthony made the statement that such investments are very different with private equity, it wasn’t just about the Celtics. It was a larger warning. What he actually meant was that the financial structure of the NBA is transforming under everyone’s nose. The days when former players could leverage their connections and earnings into minority ownership stakes might be slipping away.
Dwyane Wade has already joined the Utah Jazz ownership group, while Michael Jordan has sold his majority stake in the Charlotte Hornets. But, as private equity firms start controlling larger shares of NBA franchises, these deals could become a rarity. What is established so far is that private equity investors aren’t interested in nostalgia or goodwill – they’re in it for sheer business.
So what happens next? If private ownership is to take over, the next generation of owners might not be former players but rather rich people with barely any connections to the sport. Melo’s frustration is justified because the dream of NBA legends becoming NBA owners is suddenly becoming a whole lot harder to achieve. And that is just sad! Just imagine basketball without the passion, the vision, and familiar faces leading the charge of teams in the league… that a distressing thought.
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