Bill Chisholm Becomes the New Owner of the Celtics in a Historic Deal
The transfer of ownership of the Boston Celtics has concluded, marking the beginning of a new era for the NBA’s most decorated franchise. Bill Chisholm, a recognized private equity investor, takes control of the team, succeeding the group led by Wyc Grousbeck, who were owners for more than two decades.
The sale of the team was launched last summer, shortly after the Celtics won their eighteenth NBA championship, a record. Chisholm won the bid in March, submitting an offer that valued the franchise at more than $6.1 billion, setting a new record in American professional sports.
The NBA gave its unanimous approval to the deal last week, and the financial transaction was completed on Tuesday.
Chisholm acquires at least 51% of the team’s ownership, with the possibility of obtaining full control by 2028, in a deal that could raise the total value to $7.3 billion. This figure represents the highest price ever paid for a team in the four major North American sports leagues, although a partial transaction of the Los Angeles Lakers was carried out this summer that would value the entire franchise at $10 billion.
Grousbeck led the group that bought the Celtics in 2002 for $360 million. During his tenure, the Celtics won two NBA titles, reached the finals on two other occasions, and qualified for the playoffs in 20 of 23 seasons.
