NBA approves Celtics sale to private equity mogul Bill Chisholm for record $6.1B
BOSTON — 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 $6.1 billion — the largest ever for an American professional sports team.
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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.
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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.
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Wyc Grousbeck led the ownership group that bought the team in 2002 for $360 million and presided over NBA championships in 2008 and '24. The franchise's 18 NBA titles is a record.
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Chisholm outbid at least two other groups, one led by previous Celtics minority partner Steve Pagliuca. Pagliuca has since announced plans to buy the WNBA's Connecticut Sun for $325 million and move them to Boston, but the women's league has balked at the deal.
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