The National Basketball Association on Wednesday confirmed its approval of the Boston Celtics’ sale to an investment consortium headed by Bill Chisholm, finalizing a landmark deal that was first announced five months ago and valued at $6.1 billion at the time.
“The NBA Board of Governors has unanimously approved the sale of the controlling interests in the Boston Celtics to an investor group led by Bill Chisholm,” the league declared in an official statement, adding that “the transaction is expected to close shortly.”
Chisholm, co-founder and managing director of Symphony Technology Group, secured the agreement to purchase the Celtics “at an initial valuation of $6.1 billion,” setting a then-record for the highest bid ever made for a North American professional sports franchise. That record has since been broken by the June sale of the Los Angeles Lakers for $10 billion, when the Buss family transferred ownership to billionaire Mark Walter.
At the time of the Celtics’ sale announcement, it was indicated that Wyc Grousbeck would continue to serve as the team’s chief executive officer and governor, maintaining oversight of team operations through the conclusion of the 2027-28 NBA season. Grousbeck, along with his family and Steve Pagliuca, originally acquired the Celtics in 2002 for $360 million.
However, recent reports from U.S. media revealed that Chisholm, a Massachusetts native and self-described “die-hard Celtics fan,” will take over the role of governor, as Grousbeck will not retain the minimum 15% ownership stake required by league rules to hold that position. Despite this change, ESPN has reported that both men “plan to run the team together as originally planned,” suggesting a collaborative leadership structure will remain in place.
The Boston Celtics remain one of the most iconic franchises in NBA history, holding a league-best record of 18 championships, their most recent title secured in 2024.
What you should know
Bill Chisholm, a Massachusetts native and long-time Celtics supporter, has officially become the controlling owner of the franchise in a $6.1 billion deal approved by the NBA.
While he will now take over as governor, former governor Wyc Grousbeck will still play a key role in team management, ensuring a joint approach to leading the 18-time NBA champions.
