Boston Celtics sale: NBA franchise agrees to sell for record-breaking $6.1 billion to Bill Chisholm

The Boston Celtics' ownership group announced on Thursday that it has agreed to sell the franchise for $6.1 billion to Bill Chisholm, the managing director and co-founder of Symphony Technology Group, a private equity firm based in California. If approved by the NBA’s board of governors, this deal will set a record for the highest price ever paid for a North American professional sports franchise, surpassing the $6.05 billion paid for the Washington Commanders by Josh Harris in 2023. The deal also beats the previous NBA record set in 2023, when Mat Ishbia bought the Phoenix Suns for $4 billion.

Chisholm, a lifelong Celtics fan from Massachusetts, is purchasing the team from Boston Basketball Partners LLC, the ownership group led by Wyc Grousbeck and his family. Grousbeck, who has served as the Celtics' governor, will remain in his position until the end of the 2027-28 season at Chisholm's request, to ensure a smooth transition and continued leadership during the handover. In an interview with ESPN, Grousbeck expressed his confidence in Chisholm, stating, “We hoped from the beginning to find the right person with the resources and commitment to win banners, and being a great person. Bill checks every box for us.”

Chisholm, who has been a devoted Celtics supporter since childhood, reflected on his excitement about the opportunity. He fondly recalled attending a game at the Boston Garden for his seventh birthday, saying, “I bleed green” and emphasizing his admiration for Grousbeck's leadership in the past. Chisholm also acknowledged the team's current success, noting the strong leadership of coach Joe Mazzulla and president Brad Stevens, and emphasized that he would aim to continue the good work done by the current management team.

Chisholm’s ownership group will also include Sixth Street, a private equity firm that has invested in other sports franchises such as the San Antonio Spurs, as well as Rob Hale, a current minority owner of the Celtics, and Bruce A. Beal Jr., the president of Related Companies, a real estate firm. Sixth Street has committed to investing over $1 billion in the Celtics, according to reports. The Grousbeck family praised the thorough and competitive sale process, acknowledging the significant interest from potential buyers.

During the sale process, several other high-profile bidders were reportedly involved, including Celtics minority owner Steve Pagliuca, Philadelphia Phillies minority owner Stan Middleman, and the Friedkin Group. Pagliuca, in particular, made a bid with his partners, offering a fully financed deal with no debt or private equity involved, emphasizing their deep connection to Boston's community. Despite their offer, Chisholm’s group ultimately secured the winning bid. In a statement, Pagliuca expressed his continued loyalty to the Celtics and hinted that he and his team would be ready to re-enter the bidding process if the deal with Chisholm does not receive approval.

The sale marks the end of an era for the Grousbeck family, who purchased the Celtics in 2002 for $360 million. Now, nearly two decades later, the team is valued at $6.1 billion, showcasing its immense growth and success. With Chisholm at the helm, the Celtics are expected to continue striving for championships while maintaining the strong legacy that has been built over the years.