UPDATE: The NBA board of governors has unanimously approved the sale of the Boston Celtics to a group led by private equity mogul Bill Chisholm, marking a historic valuation of over $6.1 billion. This transaction, confirmed just hours ago, sets a new record for any American professional sports team.
The deal is expected to finalize shortly, with Chisholm acquiring at least 51% of the franchise. Full control is projected to transition to him by 2028, potentially increasing the overall value to $7.3 billion. The previous record for a U.S. sports franchise was held by the NFL’s Washington Commanders, sold for $6.05 billion in 2023.
Chisholm, a Massachusetts native and a graduate of Dartmouth College and Penn’s Wharton School of Business, is the managing partner of Symphony Technology Group. His ownership group also includes notable Boston businessmen like current Celtics shareholder Rob Hale and Bruce Beal Jr..
Wyc Grousbeck, who led the previous ownership group that purchased the Celtics in 2002 for $360 million, has overseen significant successes, including NBA championships in 2008 and 2024. The Celtics hold an unparalleled record with 18 NBA titles.
Chisholm’s bid outpaced competition from at least two other groups, including one led by former Celtics minority partner Steve Pagliuca. Pagliuca has since announced his intention to buy the WNBA’s Connecticut Sun for $325 million, with plans to relocate the team to Boston, pending WNBA board approval.
This monumental sale not only reshapes the landscape of the NBA but also emphasizes the rising valuations of professional sports teams in the U.S. As the deal moves forward, fans and analysts alike will be watching closely to see how this change in ownership may impact the Celtics’ future strategy and performance on the court.
Stay tuned for further updates on this developing story!
