In an unprecedented $6.1 billion deal, the NBA overwhelmingly approved the sale of the Boston Celtics to a group headed by private equity tycoon Bill Chisholm.
This sale, which is anticipated to conclude soon, reflects the highest amount ever paid for an American professional sports club. As per the agreement, Chisholm will initially purchase a minimum of 51% of the franchise, with complete ownership expected by 2028. The structure of the sale suggests a possible $7.3 billion total worth. The previous record of $6.05 billion, set in 2023 for the NFL’s Washington Commanders, is surpassed by this deal. With 18 titles-the most in NBA history-the Boston Celtics have a legendary past.
Chisholm, the managing partner of Symphony Technology Group, is a native of Massachusetts and a graduate of the Wharton School of Business and Dartmouth College. Bruce Beal Jr., president of Related Companies, and Rob Hale, a current Celtics stakeholder, are both part of his investor group. Aditya Mittal, the CEO of ArcelorMittal SA, and Sixth Street Partners have provided financial support for the merger, each contributing $1 billion to help make it happen.
Background And Future Plans
The ownership group that originally paid $360 million for the Celtics was led by Wyc Grousbeck, who has served as the team’s governor and CEO since 2002. The team has won two NBA titles under Grousbeck’s leadership, and he is anticipated to stay on until the 2027-2028 campaign. But contrary to earlier expectations, Chisholm will assume the role of team governor.
The Celtics’ sale fits with a larger NBA trend that shows how popular and powerful professional sports teams are becoming financially. The NBA Board of Governors’ decision highlights the competitive nature of sports investments and the considerable demand for ownership holdings in the league.
The NBA will continue to work with major television channels like NBC, ESPN, and Amazon as the 2025-26 season gets underway on October 21.