The deal values the Boston Celtics at more than US$6.1-billion and is the largest ever for an American professional sports team.Elise Amendola/The Associated Press
The NBA on Wednesday unanimously approved the sale of the Boston Celtics to a group led by private equity mogul Bill Chisholm, a deal that values the franchise at more than US$6.1-billion – the largest ever for an American professional sports team.
The league said the transaction is expected to close shortly. When it does, Chisholm will take ownership of at least 51 per cent of the team, with full control coming by 2028 at a price that could bring the total value to US$7.3-billion.
The previous record for a U.S. sports franchise was the US$6.05-billion paid for the NFL’s Washington Commanders in 2023. The record price for an NBA team was the US$4-billion mortgage firm owner Mat Ishbia paid for the Phoenix Suns in 2023.
A Massachusetts native and graduate of Dartmouth College and Penn’s Wharton School of business, Chisholm is the managing partner of California-based Symphony Technology Group. The new ownership group also includes Boston businessmen Rob Hale, who is a current Celtics shareholder, and Bruce Beal Jr.
Wyc Grousbeck led the ownership group that bought the team in 2002 for US$360-million and presided over NBA championships in 2008 and ‘24. The franchise’s 18 NBA titles is a record.
Chisholm outbid at least two other groups, one led by previous Celtics minority partner Steve Pagliuca. Pagliuca has since announced plans to but the WNBA’s Connecticut Sun for US$325-million and move them to Boston, but the women’s league has balked at the deal.