Wyc Grousbeck

Obamas purchase Celtics owner Wyc Grousbeck's $11.75M Martha's Vineyard estate

Obamas purchase Celtics owner Wyc Grousbeck's $11.75M Martha's Vineyard estate

Barack and Michelle Obama have closed on their purchase of Boston Celtics owner Wyc Grousbeck's Martha's Vineyard estate.

TMZ reports the Obamas bought the beautiful seven-bedroom, 7,000 sqft home for $11.75 million. The estate was on the market for $14.85 million back in August when rumors first surfaced of the Obama family looking to purchase it.

Take a look at the Obamas' stunning new home below (photos courtesy of LandVest via coldwellbankerhomes.com):

The estate features a pool (above), a chef's kitchen, and an outdoor fireplace.

Grousbeck's former home has 29 acres of beachfront property near the edge of Edgartown Great Pond.

The mansion originally was listed for $22.5 million in August 2015.

With two fireplaces, a family kitchen and chef's kitchen, and a huge master bedroom with a sundeck, it's no wonder why the Obamas were attracted by the opportunity to purchase Grousbeck's estate.

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Celtics owner Wyc Grousbeck teams up with Michael Jordan, other NBA owners to launch ultra-premium tequila

Celtics owner Wyc Grousbeck teams up with Michael Jordan, other NBA owners to launch ultra-premium tequila

What do the Boston Celtics, Los Angeles Lakers, Charlotte Hornets, and Milwaukee Bucks all have in common?

No, they didn't all make the playoffs last year. The Lakers and Hornets didn't quite make the cut last year.

No, they're not all in the Eastern Conference. Though the Lakers used to reside in Minneapolis, they are a member of the Western Conference.

Do you give up? Well, the answer is that their owners are partnering together to launch a high-end tequila company, Cincoro Tequila. Darren Rovell was among those that reported the news on Monday, along with the cost per bottle.

This project will involve some of the most influential owners in the NBA in long-time Lakers owner and executive Jeanie Buss, Hornets owner and one of the greatest to play the game of basketball, Michael Jordan, Bucks owner Wes Edens, and, of course, Celtics owner Wyc Grousbeck and his wife, Emilia Fazzalari.

It will be interesting to see if this company pans out. If it does, certainly expect Cincoro to have a presence in the NBA. And who knows? Maybe it will have a bit of a presence with the Celtics once it launches.

Intriguing storylines ahead of Celtics training camp>>>

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Obamas buying $14.85M Martha's Vineyard estate from Celtics owner Wyc Grousbeck

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File photo

Obamas buying $14.85M Martha's Vineyard estate from Celtics owner Wyc Grousbeck

Boston Celtics owner Wyc Grousbeck is selling his beautiful Martha Vineyard estate to Barack and Michelle Obama, according to the Daily Mail.

The estate reportedly is on the market for $14.85 million and features a 7,000 sqft house with seven bedrooms and nine bathrooms.

Take a look at the stunning home below (photos courtesy of LandVest via coldwellbankerhomes.com):

The estate features a pool (above), a chef's kitchen, and an outdoor fireplace.

Grousbeck's former home has 29 acres of beachfront property near the edge of Edgartown Great Pond.

The mansion originally was listed for $22.5 million in August 2015.

With two fireplaces, a family kitchen and chef's kitchen, and a huge master bedroom with a sundeck, it's no wonder why the Obamas were attracted by the opportunity to purchase Grousbeck's estate.

Click here to download the new MyTeams App by NBC Sports! Receive comprehensive coverage of your teams and stream the Celtics easily on your device.