{"id":67513,"date":"2025-08-13T22:19:09","date_gmt":"2025-08-13T22:19:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/67513\/"},"modified":"2025-08-13T22:19:09","modified_gmt":"2025-08-13T22:19:09","slug":"nba-approves-sale-of-boston-celtics-to-private-equity-mogul-bill-chisholm-for-record-6-1-billion","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/67513\/","title":{"rendered":"NBA approves sale of Boston Celtics to private equity mogul Bill Chisholm for record $6.1 billion"},"content":{"rendered":"\n<p class=\"yf-1090901\">BOSTON (AP) \u2014 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 <a href=\"https:\/\/apnews.com\/article\/boston-celtics-sale-c8d050f615af7563c71ffe1f7601825d\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:values the franchise at more than $6.1 billion;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">values the franchise at more than $6.1 billion<\/a> \u2014 the largest ever for an American professional sports team.<\/p>\n<p class=\"yf-1090901\">The league said the transaction is expected to close shortly. When it does, Chisholm will take ownership of at least 51% of the team, with full control coming by 2028 at a price that could bring the total value to $7.3 billion.<\/p>\n<p class=\"yf-1090901\">The previous record for a U.S. sports franchise was the $6.05 billion paid for the NFL\u2019s Washington Commanders in 2023. The record price for an NBA team was the $4 billion mortgage firm owner Mat Ishbia paid for the <a href=\"https:\/\/apnews.com\/article\/phoenix-suns-los-angeles-clippers-houston-rockets-brooklyn-nets-nba-5af4d0887bf5dc1c9a115025f3518570\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:Phoenix Suns in 2023;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">Phoenix Suns in 2023<\/a>.<\/p>\n<p class=\"yf-1090901\">A Massachusetts native and graduate of Dartmouth College and Penn\u2019s 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.<\/p>\n<p class=\"yf-1090901\">Wyc Grousbeck led the ownership group that bought the team in 2002 for $360 million and presided over NBA championships in 2008 and \u201824. The franchise\u2019s 18 NBA titles is a record.<\/p>\n<p class=\"yf-1090901\">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&#8217;s Connecticut Sun for $325 million and move them to Boston, but the <a href=\"https:\/\/apnews.com\/article\/sun-celtics-wnba-sale-8ec76d6b0202c11834198dd6ac69d1bd\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:women&#039;s league has balked at the deal;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">women&#8217;s league has balked at the deal<\/a>.<\/p>\n<p class=\"yf-1090901\">___<\/p>\n<p class=\"yf-1090901\">AP NBA: <a href=\"https:\/\/apnews.com\/hub\/nba\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:https:\/\/apnews.com\/hub\/nba;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">https:\/\/apnews.com\/hub\/nba<\/a><\/p>\n<p class=\"yf-1090901\">Jimmy Golen, The Associated Press<\/p>\n","protected":false},"excerpt":{"rendered":"BOSTON (AP) \u2014 The NBA on Wednesday unanimously approved the sale of the Boston Celtics to a group&hellip;\n","protected":false},"author":2,"featured_media":67514,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[434],"tags":[42777,1222,49,48,3458,459,42778,6002,42779,82,31159],"class_list":{"0":"post-67513","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-nba","8":"tag-bill-chisholm","9":"tag-boston-celtics","10":"tag-ca","11":"tag-canada","12":"tag-connecticut-sun","13":"tag-nba","14":"tag-ownership-group","15":"tag-phoenix-suns","16":"tag-professional-sports-team","17":"tag-sports","18":"tag-steve-pagliuca"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/67513","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=67513"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/67513\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/67514"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=67513"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=67513"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=67513"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}