UPDATE: The Boston Celtics have a new owner, and he is determined to do “whatever it takes” to win championships. In a news conference held on October 12, 2023, new owner Bill Chisholm emphasized his commitment to success, stating, “Let’s do whatever we can to win championships and raise banners.”
This announcement comes as the Celtics undergo a significant ownership transition after the team was sold for a record-setting $6.1 billion. The NBA unanimously approved the deal last month, marking a historic moment for the franchise.
Chisholm, a Massachusetts native and private equity mogul, made it clear that he does not plan to disrupt the existing management team that has brought the Celtics two NBA championships in the past 23 years. He was joined at the press event by former lead owner Wyc Grousbeck, president Rich Gotham, and president of basketball operations Brad Stevens. “I will do whatever it takes, whatever the Boston Celtics need me to do,” Chisholm declared.
The new owner expressed his lifelong passion for the Celtics, stating, “The Celtics have brought me joy my entire life. This was an opportunity that was a dream come true.” Grousbeck, who will remain as CEO for the next five years, echoed his enthusiasm, saying, “I want a third ring. And then I want a fourth ring.”
More than half of the previous ownership group is set to stay involved, ensuring continuity during this transition phase. However, Chisholm is clear that he will have the final say on team decisions, remarking, “There’s a governor, and the governor has the final say, and that’s me.” This statement underscores his commitment to leading the team in a new direction.
Chisholm also showed interest in expanding the Celtics brand, mentioning the possibility of bringing a WNBA team to Boston. He acknowledged the current process but expressed optimism about expediting it, saying, “It’s definitely something we’re going to look at.”
As the Celtics prepare for the upcoming season, they face challenges ahead, including managing the salary cap and the recovery of star player Jayson Tatum, who is healing from a ruptured right Achilles tendon. The team traded key contributors Jrue Holiday and Kristaps Porzingis this summer, decisions that Grousbeck stated would have occurred regardless of the sale.
Stevens noted that these trades were made to ensure roster flexibility and to avoid penalties under the NBA’s salary cap rules. “You have to give yourself the flexibility and opportunity to jump at the right deals,” he explained.
Chisholm’s leadership will focus on balancing ambition with strategy, stating, “Let’s go for it, but let’s do it in a reasonable way.” This approach emphasizes both the team’s competitive spirit and the need for sustainable success.
The Celtics’ future hinges on their ability to navigate these challenges effectively, and the excitement surrounding Chisholm’s ownership is palpable. Fans and analysts alike will be watching closely as the team embarks on this new chapter, eager to see if it leads to another championship banner in the storied history of the franchise.