Billionaire purchase of Boston Celtics in NBA deal for a whopping $61 billion
The Boston Celtics are set for a change in leadership as businessman Bill Chisholm takes over as the team's governor, following the completion of a $6.1 billion sale of a majority stake in the franchise.
Chisholm, who is the CEO and co-founder of Symphony Technology Group, will now represent the Celtics in league matters as governor. Meanwhile, Wyc Grousbeck, the long-time leading owner since 2002, steps down from the governor role but remains actively engaged as an alternate governor and CEO, helping with day-to-day operations alongside Chisholm and the Celtics' existing management teams.
Grousbeck, a die-hard Celtics fan, has emphasized his ongoing commitment to the franchise, even after the ownership transition. Both he and Chisholm will work closely to continue pursuing championship success for the historic team, which has a record of 18 championships in its history, with the most recent win in 2024.
The sale of the Celtics was originally agreed upon for a record value of $6.1 billion, surpassed only by the subsequent sale of the Los Angeles Lakers for $10 billion in June. The NBA's board of governors has unanimously approved the sale, and the transaction is expected to be completed shortly.
Despite the change in ownership, the ownership structure of the Boston Celtics remains unchanged. Grousbeck and Chisholm will continue to run the team together as initially planned, with Grousbeck continuing in his roles as CEO and governor, overseeing the team's operations until the 2027-28 season.
Chisholm, who will assume the governor role due to the regulation-enforced change of plans, describes himself as a passionate Celtics fan. The sale marks a formal shift in leadership, with Grousbeck's role transitioning to a more operational and collaborative one without the governor title.
The Celtics, one of the NBA's most historic teams, will continue to strive for championship success under their new leadership. With a passionate fanbase and a rich history of success, the team is poised for a bright future.
Bill Chisholm, being a committed basketball fan, will now oversee sports matters related to the NBA as the newly appointed governor of the Boston Celtics. Under his leadership, the Celtics, known for their remarkable 18 NBA championships, will continue to chase championship success in basketball.
