Celtics Set to Change Hands: Record-Breaking Sale Approved
BOSTON (AP) — In a landmark decision, the NBA has unanimously approved the sale of the Boston Celtics to a group led by private equity mogul Bill Chisholm. Valued at over $6.1 billion, this deal marks the highest price ever paid for an American professional sports team.
The transaction is expected to close soon, with Chisholm acquiring at least 51% of the franchise immediately. Full ownership will transition by 2028, potentially pushing the total price to an astonishing $7.3 billion.
This sale surpasses the previous record for a U.S. sports team, set by the NFL’s Washington Commanders in 2023 at $6.05 billion, and the NBA’s prior high of $4 billion, paid by Mat Ishbia for the Phoenix Suns.
Chisholm, a Massachusetts native and a graduate of Dartmouth College and Penn’s Wharton School of Business, is the managing partner of California-based Symphony Technology Group. His new ownership group also includes local business figures Rob Hale and Bruce Beal Jr. Hale is already a shareholder in the Celtics.
The Celtics’ current principal owner, Wyc Grousbeck, spearheaded the group that acquired the team in 2002 for just $360 million. Under Grousbeck’s leadership, the Celtics won two NBA championships, solidifying their legacy as contenders with a record 18 titles.
Chisholm won the bid over at least two other groups, including one led by former Celtics minority partner Steve Pagliuca. Pagliuca has since announced intentions to purchase the WNBA’s Connecticut Sun for $325 million, with plans to relocate the team to Boston — a move that faces hurdles from the league.
As the Celtics prepare for this new chapter, fans and analysts alike are watching closely to see how Chisholm’s vision will shape the storied franchise’s future.
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