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. The deal values the franchise at a staggering $6.1 billion.
The transaction is expected to close shortly. Once completed, Chisholm will take possession of at least 51% of the team, with full control by 2028 at a price that could raise the total value to $7.3 billion.
This figure represents the highest price ever paid for a professional American sports team.
The previous record for an American sports franchise was $6.05 billion, paid for the Washington Commanders in 2023. The record price for an NBA team was $4 billion, paid by Mat Ishbia for the Phoenix Suns in 2023.
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 led the ownership group that purchased the team in 2002 for $360 million and presided over the NBA championships in 2008 and 2024. The franchise’s 18 NBA titles are a league record.
Chisholm outbid at least two other groups, one led by former Celtics minority partner Steve Pagliuca.
