BREAKING: The NBA board of governors has just approved the historic sale of the Boston Celtics to a group led by private equity mogul Bill Chisholm. This groundbreaking deal values the franchise at an astonishing $6.1 billion, making it the largest sale in American professional sports history.
The unanimous decision came on Wednesday, with the transaction expected to close shortly. Once finalized, Chisholm will take ownership of at least 51% of the team, with full control projected by 2028. This could push the franchise’s total value to an eye-popping $7.3 billion.
The previous record for a U.S. sports franchise sale was the $6.05 billion deal for the NFL’s Washington Commanders in 2023. Notably, the record for an NBA team was set when mortgage firm owner Mat Ishbia purchased the Phoenix Suns for $4 billion in the same year.
Chisholm, a Massachusetts native and a graduate of Dartmouth College and the Wharton School at the University of Pennsylvania, is the managing partner of California-based Symphony Technology Group. His ownership group also includes Boston businessmen Rob Hale, a current Celtics shareholder, and Bruce Beal Jr..
Current owner Wyc Grousbeck, who led the ownership group that bought the Celtics for just $360 million in 2002, has overseen the franchise during two championship victories in 2008 and 2024. The Celtics boast an impressive record with 18 NBA titles.
Chisholm’s bid outpaced at least two competing groups, including one led by former Celtics minority partner Steve Pagliuca. Pagliuca has announced plans to acquire the WNBA’s Connecticut Sun for $325 million and intends to relocate the team to Boston, pending approval by the WNBA board of governors.
This monumental sale marks a significant shift in the landscape of NBA ownership and reflects the soaring value of professional sports franchises in the U.S. As the Celtics transition to new leadership, fans and analysts alike are eager to see how this change will impact the team’s future trajectory.
Stay tuned for updates as this story develops.