Celtics sale approved for a record sum
The NBA’s board of governors unanimously approved the sale of the Boston Celtics to a group led by private equity magnate Bill Chisholm on Wednesday. The deal values the franchise at a staggering $6.1 billion.
The transaction is expected to close shortly. Once completed, Chisholm will assume ownership of at least 51% of the team, with full control expected by 2028, potentially raising the total value to $7.3 billion.
This sale represents the highest price ever paid for a professional American sports team.
The previous record for an American sports franchise was held by the NFL’s Washington Commanders, which sold for $6.05 billion in 2023. As for the NBA, the previous record was held by the Phoenix Suns, acquired by Mat Ishbia in 2023 for $4 billion.
Chisholm, a Massachusetts native and graduate of Dartmouth College and the Wharton School of Business at the University of Pennsylvania, is the managing partner of Symphony Technology Group, based in California. The new ownership group also includes Boston entrepreneurs Rob Hale, current Celtics shareholder, and Bruce Beal Jr.
Wyc Grousbeck led the ownership group that acquired the team in 2002 for $360 million and was at the helm during the 2008 and 2024 NBA championships. The Celtics, with 18 NBA titles, hold the league record.
Chisholm outbid at least two other groups, one of them led by the former Celtics minority partner Steve Pagliuca. Pagliuca subsequently announced his plans to buy the WNBA’s Connecticut Sun for $325 million and move the team to Boston, although the sale and potential relocation are subject to the approval of the WNBA’s board of governors.
