The Boston Celtics, one of the most storied franchises in the NBA, have been sold to a new ownership group led by private equity executive Bill Chisholm.
The deal, valued at $6.1 billion, sets a record as the highest price ever paid for a U.S. sports team, surpassing the $6.05 billion sale of the Washington Commanders in 2023.
The New Ownership Group
Chisholm, co-founder of Symphony Technology Group, will be joined by Sixth Street, a private equity firm contributing over $1 billion, alongside Boston-area businessman Rob Hale and Bruce Beal Jr., president of real estate giant Related Companies. The Celtics’ current ownership, Boston Basketball Partners, led by Wyc Grousbeck, will oversee the transition, with Grousbeck remaining as CEO and team governor until 2028.
Bill Chisholm, a lifelong Boston Celtics fan, expressed his excitement about taking the helm: “Growing up on the North Shore and attending college in New England, I have been a die-hard Celtics fan my entire life. I understand how important the Celtics are to the city of Boston.”
Why the Celtics Sale Matters
The Celtics’ record-setting valuation reflects the skyrocketing value of professional sports teams, largely driven by increasing media rights deals. The NBA’s new 11-year, $76 billion media agreement with Disney, NBCUniversal, and Amazon has significantly boosted franchise valuations, making high-profile ownership changes more common.
The deal also underscores a trend of private equity firms increasing their stake in major sports franchises, a shift that allows for more diversified ownership structures. The NBA, following the NFL’s lead, has gradually opened its doors to private equity investments, making deals of this magnitude feasible.
Impact on the Celtics’ Future
While Grousbeck will continue in his leadership role through 2028, the new ownership group’s long-term vision for the Celtics remains to be seen. With 18 NBA championships, the most in league history, the Celtics are currently positioned as one of the strongest teams in the Eastern Conference and remain favorites for another title run.
Chisholm’s investment signals confidence in the franchise’s future both on and off the court. His background in strategic investment and operations could lead to enhancements in team development, infrastructure, and market expansion.
What’s Next?
Pending NBA approval, the transaction is expected to close by summer 2025. The deal could have broader implications for the NBA as more franchises explore strategic partnerships and private equity involvement.
The Boston Celtics remain a global powerhouse in professional basketball, and this historic sale ensures they will continue to be a major force in the league for years to come.
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