Boston: Private equity mogul William Chisholm has reached an agreement to purchase the Boston Celtics, valuing the reigning NBA champions and the league’s most-decorated franchise at a minimum of $6.1 billion, the highest price ever paid for a U.S. professional sports team. If approved by the NBA’s board of governors this summer, the sale will surpass the $6.05 billion paid for the NFL’s Washington Commanders in 2023.
A Massachusetts native and alumnus of Dartmouth College and the Wharton School of Business, Chisholm is the managing partner of California-based Symphony Technology Group. His ownership group includes Boston businessmen Rob Hale, a current Celtics shareholder, and Bruce Beal Jr.
“As someone who grew up on the North Shore and attended college in New England, I have been a lifelong Celtics fan,” Chisholm said in a statement. “I understand the deep connection between the team and the city of Boston, something that sets it apart from any other franchise. Leading this organization is a responsibility I take seriously, and I am ready for the challenge.”
Current controlling owner Wyc Grousbeck, whose family led the purchase of the team for $360 million in 2002, stated that Chisholm has asked him to remain as CEO and Governor for the next three seasons.
“Bill is a great person and a true Celtics fan, born and raised in the Boston area,” Grousbeck said. “His passion for the team and city, combined with his chemistry with the Celtics’ leadership, makes him the ideal choice to be the next Governor and controlling owner. He is committed to winning on the court and giving back to the community. Simply put, he wants to be a great owner.”
The agreement involves a two-stage sale. Chisholm will initially acquire at least 51% of the franchise upon NBA approval, which could come as early as this summer. Current owners will have the option to retain their shares until 2028, when they can sell at a price potentially 20% higher, based on league revenue growth. That would bring the team’s valuation to approximately $7.3 billion.
Chisholm outbid at least two other groups, including one led by current Celtics minority partner Steve Pagliuca. Pagliuca claimed his group submitted a record, fully guaranteed bid with substantial financial backing and no debt to ensure long-term competitiveness.
“Our bid was made by true fans deeply connected to Boston’s community, and we are disappointed that we were not selected,” Pagliuca said. “I will always be a Celtic, and if this deal does not go through, my partners and I stand ready to step in and continue the tradition of winning.”
Sportico and ESPN were among the first to report the sale agreement.
The previous record sale price for an NBA team was the $4 billion that mortgage mogul Mat Ishbia paid for the Phoenix Suns in 2023. However, the Celtics remain one of the league’s premier franchises, having secured their unprecedented 18th championship in June. With stars Jayson Tatum and Jaylen Brown leading the charge, Boston remains a top contender for another title, continuing the legacy of Hall of Famers like Bob Cousy, Bill Russell, Larry Bird, and Paul Pierce.
Shortly after the Celtics’ championship victory over the Dallas Mavericks, Grousbeck announced the team would be put up for sale.
“My partners and I have tremendous respect for Wyc, the Grousbeck family, and their invaluable contributions to the Celtics over the past 23 years,” Chisholm said. “We look forward to working with Wyc and collaborating with Brad Stevens, Joe Mazzulla, and the entire organization to build upon their success and bring more championships to Boston.”
