Record-breaking $6.1 billion deal sees Boston Celtics sold to new owner Bill Chisholm, approved by NBA
Bill Chisholm Takes Over as Majority Owner of the Boston Celtics
Bill Chisholm, a private equity mogul and longtime Boston Celtics fan, has officially become the new majority owner of the NBA's Boston Celtics franchise. The sale, valued at $6.1 billion - the highest price ever paid for an American professional sports team - was agreed upon by the Celtics' previous ownership, Boston Basketball Partners LLC, and is expected to be finalized in August 2025.
Chisholm, a Massachusetts native, is the managing partner of California-based Symphony Technology Group. He will hold at least 51% of the team initially, with Wyc Grousbeck, the former owner, remaining involved as co-governor alongside Chisholm's investor group. Other co-owners and managing board members include Rob Hale, a current Celtics shareholder, and Bruce Beal Jr.
Under the previous ownership, the Celtics have a rich history of NBA success. They have won 18 championships, with their most recent win in 2024, and have made multiple Finals appearances, including in 2010 and 2022. The sale of the franchise to Chisholm marks a major business move, valuing the Celtics at a record price in North American sports history.
The franchise's total value is expected to reach $7.3 billion by 2028 when Chisholm gains full control. Wyc Grousbeck will retain the CEO title and will be an alternate governor under the new ownership, but it is reported that he will no longer serve as governor when the sale goes through.
The NBA has formally approved the sale of the Boston Celtics, ensuring a smooth transition for the iconic franchise. As Chisholm takes the reins, he brings his expertise in private equity investing to the table, aiming to manage and grow the team's investments through private ownership. The Celtics' fans can look forward to the team's continued success under the new leadership.
Sources: 1. ESPN 2. Boston Globe 3. CBS Sports 4. Yahoo Sports
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