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Time Is Money

Jul 2, 2024 • 5 min read

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Supreme Court Ruling
Boston Celtics Sale

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Supreme Court Ruling:

The Supreme Court has ruled that presidents are immune from criminal prosecution for actions taken while in office. This decision grants presidents "presumptive immunity" for official acts performed during their tenure, which complicates special counsel Jack Smith's election interference case against former President Donald Trump. However, the court specified that this immunity does not cover "unofficial acts," meaning not all presidential actions are protected.
Justice Sonia Sotomayor and other dissenting justices expressed strong opposition, highlighting the potential dangers of this ruling, such as a president ordering assassinations or organizing coups without facing legal repercussions. Critics argue that this sets a dangerous precedent by potentially allowing presidents to act without accountability. Conversely, supporters contend that it is a necessary safeguard for the executive branch's official duties. The ruling has prompted Trump to seek to overturn his recent criminal conviction in Manhattan, citing the immunity.
The 6-3 decision, opposed by the court's three liberal justices, has sent the case back to U.S. District Judge Tanya Chutkan. Chief Justice John Roberts, writing for the majority, emphasized that while the president is not above the law, Congress cannot criminalize the president's conduct in executing the responsibilities of the Executive Branch as outlined in the Constitution. This means the president is immune from criminal prosecution for actions within his constitutional authority, effectively ensuring that Trump's high-profile criminal case will not proceed to trial before the November 5th election.

Boston Celtics Sale:

The Boston Celtics, the 2024 National Basketball Association (NBA) champions, are set to be sold. On Monday, Boston Basketball Partners LLC, the team's ownership group, announced on social media site X that they plan to sell the team. The controlling family of the ownership group stated that the sale is being driven by estate and family planning considerations. The sale will occur in two stages, with the majority stake expected to be sold by the end of 2024 or early 2025, and the remaining shares to be sold by 2028.
Given the rising valuations of sports franchises, the Celtics are expected to command a particularly high price. The Celtics, one of the most successful and widely followed teams in U.S. professional sports, recently celebrated their NBA record 18th championship. This accomplishment, along with the escalating value of sports media rights, is likely to result in a valuation close to or exceeding the record $4 billion price that the NBA's Phoenix Suns achieved in 2023, according to sports consultants.

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