Celtics sale approved for a record sum
The NBA’s board of governors has given the green light to the sale of the Boston Celtics to a group led by Bill Chisholm, a renowned private equity magnate. The transaction, approved unanimously, values the franchise at the staggering figure of $6.1 billion.
The agreement is expected to be finalized shortly. Once completed, Chisholm will assume ownership of at least 51% of the team, with full control planned for 2028, at a price that could raise the total value to $7.3 billion.
This agreement marks the highest price ever paid for a professional sports team in the United States.
The previous record was held by the purchase of the NFL’s Washington Commanders in 2023, for $6.05 billion. As for the NBA, the previous record was the acquisition of the Phoenix Suns 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 a managing partner at Symphony Technology Group, based in California. The new ownership group also includes Boston entrepreneurs Rob Hale, a current Celtics shareholder, and Bruce Beal Jr.
Wyc Grousbeck, who led the group that acquired the team in 2002 for $360 million, witnessed the NBA championships in 2008 and 2024. The franchise holds the league record with 18 NBA titles.
Chisholm outbid at least two other groups in the bidding, including one led by Steve Pagliuca, a former minority partner of the Celtics. Pagliuca has announced plans to buy the Connecticut Sun of the WNBA for $325 million and move the team to Boston, although the sale and possible relocation are subject to the approval of the WNBA’s board of governors.
