The NBA has unanimously approved the $6.1 billion sale of the Boston Celtics to Bill Chisholm, managing partner of Symphony Technology Group based in California. This deal marks a historic transaction in North American professional sports, surpassing the $6.05 billion valuation of the NFL’s Washington Commanders when sold in 2023.
Bill Chisholm takes over the Celtics from Wyc Grousbeck, who owned the franchise for over two decades. Chisholm will initially hold at least a 51% ownership stake, with plans to gain full control by 2028. The total valuation could reach $7.3 billion.
Chisholm, a Massachusetts native and lifelong Celtics fan, aims to “win and raise banners” for the team. He emphasizes aligning goals with the team’s current leadership, including President Brad Stevens and Coach Joe Mazzulla.
The sale was unanimously approved by the NBA Board of Governors and is expected to close shortly. Chisholm’s investment group includes Sixth Street, a private equity firm, Rob Hale (current minority owner), and Bruce A. Beal Jr. Sixth Street will invest over $1 billion.
Wyc Grousbeck purchased the Celtics in 2002 for $360 million. During his tenure, the team won two championships. Grousbeck will own less than 15% of the team post-sale due to league rules.
The upcoming season is viewed as a “gap year” for the Celtics, with Jayson Tatum expected to miss most of the season. Chisholm aims to keep the team’s rich history alive and expand on it.
With the sale approved, Chisholm will lead the Celtics moving forward. He’ll attend NBA Board of Governors meetings and play a bigger role in charting the team’s path.
