The NBA has given its unanimous approval for the sale of the Boston Celtics to an investment group led by billionaire Bill Chisholm in a record-breaking deal worth $6.1 billion. This sale valuation surpasses the previous record for an American professional sports team, previously held by the NFL’s Washington Commanders, which sold for $6.05 billion in 2023. The deal also eclipses the record price for an NBA team, set at $4 billion when Mat Ishbia purchased the Phoenix Suns last year.
Chisholm’s investment group will take over a majority stake in the team, with full control expected by 2028. Wyc Grousbeck, the outgoing owner who purchased the team in 2002 for $360 million, will remain involved with the franchise as alternate governor and CEO. Grousbeck expressed his enthusiasm for the future of the team, stating that he is “fired up to be shoulder to shoulder with Bill” in pursuing another championship.
The sale’s completion marks a new era for the Celtics, who have won 18 NBA championships, the most in league history, tied with the Los Angeles Lakers. Chisholm, a Massachusetts native and managing partner of Symphony Technology Group, outbid other groups, including one led by previous Celtics minority partner Steve Pagliuca. The new ownership group also includes Boston businessmen Rob Hale and Bruce Beal Jr.
This significant transaction underscores the growing value of NBA franchises and highlights the Celtics’ enduring legacy and appeal. With global investment firm Sixth Street becoming a major participant in Chisholm’s investment group, the stage is set for the Celtics to continue their winning ways under new leadership.
