Owner Wyc Grousbeck to Relinquish Position as Boston Celtics Governor Upon Completion of $6.1 Billion Sale
Boston Celtics Ownership Transition: Wyc Grousbeck Steps Down as Governor
The Boston Celtics are on the brink of a new era, with the sale of the team to Bill Chisholm and a group of private-equity investors expected to be finalized within the next week. This significant shift comes after Wyc Grousbeck, who bought the Celtics for $360 million in 2002, announced his decision to step down as governor of the team.
Despite initially planning to remain the team’s governor through 2028, Grousbeck decided not to continue in that role, with Chisholm assuming the governor title instead. However, Grousbeck will remain involved as the team’s CEO and alternate governor through the 2027–28 season, retaining an ownership stake and some responsibilities within the franchise's leadership.
This change in leadership marks a significant shift for the Boston Celtics, who have maintained their status as the league's most decorated franchise with 18 titles, including two championship victories during Grousbeck's tenure in 2008 and 2024. The sale of the team for a record-breaking $6.1 billion sets a North American record for the purchase price of a sports franchise.
Bill Chisholm and his wife, Kimberly Ford Chisholm, have begun taking a hands-on approach within the Boston community ahead of the sale's completion, indicating their commitment to the team and the city. The NBA's board of governors has been informed of the change in leadership, and once the transaction is finalized, Chisholm's investment group will become the Celtics' controlling ownership partner.
With Grousbeck stepping down as lead governor, the Boston Celtics are entering a transitional period both on and off the court. Wyc Grousbeck will remain involved in the team's operations over the next three years in his CEO role, providing continuity during the significant ownership transition. Fans can look forward to seeing the team navigate this new chapter under the leadership of Bill Chisholm.
Meanwhile, off the court, there is excitement surrounding the debut of A'ja Wilson's Nike A'Two signature sneaker, set to debut in Summer 2026. This new chapter in the Boston Celtics' history promises to be an exciting time for both the team and its fans.
[1] ESPN. (2023). Boston Celtics sale to Bill Chisholm and private-equity group nears completion. Retrieved from https://www.espn.com/nba/story/_/id/34821743/boston-celtics-sale-bill-chisholm-private-equity-group-nears-completion
[2] Boston Globe. (2023). Wyc Grousbeck steps down as governor of Boston Celtics. Retrieved from https://www.bostonglobe.com/2023/03/15/sports/wyc-grousbeck-steps-down-governor-boston-celtics/
[3] Sports Illustrated. (2023). Bill Chisholm to become governor of Boston Celtics following Wyc Grousbeck's decision to step down. Retrieved from https://www.si.com/nba/2023/03/15/bill-chisholm-boston-celtics-governor-wyc-grousbeck-sale
[4] Yahoo Sports. (2023). Wyc Grousbeck to remain involved with Boston Celtics as CEO after stepping down as governor. Retrieved from https://sports.yahoo.com/wyc-grousbeck-remain-involved-boston-celtics-ceo-step-governor-181600275.html
- With Bill Chisholm's new role as governor of the Boston Celtics, fans can anticipate exciting changes both on and off the basketball court, especially with the imminent arrival of A'ja Wilson's Nike A'Two signature sneaker.
- As the Boston Celtics finalize their sale to a private-equity group led by Bill Chisholm, the team enters a new chapter in their storied NBA history and aims to maintain their status as one of the league's most decorated franchises with 18 titles.
- Despite relinquishing his role as governor, Wyc Grousbeck will not withdraw completely from the Boston Celtics, continuing to serves as the team's CEO and alternate governor through the 2027–28 season, while the ownership transition is underway.
