Steel Tycoon Pumps Millions into the Celtics
The world of professional basketball is about to experience a significant change. Aditya Mittal, CEO of the steel giant ArcelorMittal, has confirmed his commitment to invest one billion dollars in the acquisition of the Boston Celtics.
This news, which has generated great expectation, reveals the entry of Mittal, a member of one of the wealthiest families in India, into the team’s shareholding. It is expected that Mittal will become the second-largest shareholder of the Celtics, with the possibility of assuming the position of alternate governor in the future.
The principal acquisition was led by William Chisholm, who agreed to purchase the Celtics in March for the staggering sum of $6.1 billion, setting a record in the history of American sports teams. Chisholm, an executive at a private equity firm, is scheduled to take over as team governor after the 2027-28 season.
Although the initial agreement was not fully funded, the group led by Chisholm has been raising funds in recent weeks. Mittal’s investment represents a crucial step towards reaching the agreed price.
Aditya Mittal is the son of Lakshmi Mittal, CEO of ArcelorMittal, considered the largest steel and mining company worldwide by production volume, with revenues of around $68 billion. In addition, Lakshmi Mittal is on the board of directors of Goldman Sachs, financial advisor to the Chisholm group.
