Reduced Ownership for Wyc Grousbeck in Boston Celtics Drops Below 15%
Boston Celtics Undergo Ownership Change in $6.1 Billion Sale
The Boston Celtics, one of the most storied franchises in the NBA, is undergoing a significant ownership change. Bill Chisholm, a prominent businessman, has taken the reins as the majority owner and the team’s new governor in a sale valued at $6.1 billion.
In a two-tiered transaction, Chisholm leads the new ownership group, with Aditya Mittal expected to be the second-largest stakeholder. Wyc Grousbeck, the former majority owner, will retain a minority stake and operational roles but will no longer meet the 15% ownership threshold required by the NBA. As such, Grousbeck will become an alternate governor rather than the primary governor.
Other shareholders include Bruce Beal, Andrew Bialecki, Dom Ferrante, Robert Hale, Mario Ho, Ian Loring, and the investment firm Sixth Street. The private equity firm played a significant role in the sale but cannot be the majority owner per NBA rules, so ownership percentages were allocated accordingly.
The NBA Board of Governors unanimously approved the deal, reflecting adjustments to meet league ownership rules and ensure Chisholm’s compliance with the 15% minimum stake rule. The first transaction of the sale values the Boston Celtics at $6.1 billion, with the second part scheduled for 2028, valued at approximately $7.4 billion.
Wyc Grousbeck will own slightly less than the required 15% due to final funding for the transaction. This means he will no longer serve as governor, as the NBA does not allow a person to act as governor if they don’t own at least 15% of the team. Grousbeck will, however, continue in his roles as CEO and co-owner.
Chisholm and Grousbeck have been working together to ensure a smooth transition. Chisholm has had sit-downs with head coach Brad Stevens to align goals and extend the team’s competitive window. Current basketball and business operations will continue to be run by Stevens and Rich Gotham, respectively, during the ongoing sale process.
This ownership restructure ensures Chisholm meets NBA governance rules by holding a controlling stake while maintaining operational continuity and minority ownership for former key stakeholders like Grousbeck. The sale was first reported by ESPN's Tim Bontemps in March.
Notably, Mark Cuban, owner of the Dallas Mavericks, previously held the same title after selling his majority share in the franchise. This transition marks a new era for the Boston Celtics, as they look forward to continued success under their new leadership.
- Despite the change in ownership, the Boston Celtics, a storied franchise in the NBA, will continue their participation in sports, particularly basketball, within the NBA.
- In this new era of Boston Celtics leadership, Bill Chisholm, the new majority owner and governor, aims to extend the team's competitive window in basketball, much like Mark Cuban did with the Dallas Mavericks.
