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Arab News
20 hours ago
- Arab News
NBA approves $6.1bn sale of Boston Celtics
NEW YORK: The NBA on Wednesday approved the sale of the Boston Celtics to an investment group led by Bill Chisholm, five months after the deal worth a then-record $6.1 billion was agreed. '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 said in a brief statement. 'The transaction is expected to close shortly.' Chisholm is the managing director and co-founder of Symphony Technology Group. When he and his co-investors agreed to purchase the storied Celtics franchise 'at an initial valuation of $6.1 billion,' that was the highest ever offered for a North American sports team. It has since been surpassed by the $10 billion sale, in June, of the Los Angeles Lakers by the Buss family to billionaire Mark Walter. When the Celtics sale was announced, it was stated that Wyc Grousbeck would continue in his roles of chief executive officer and governor, overseeing team operations through the 2027-28 season. The Grousbeck family and Steve Pagliuca purchased the Celtics for $360 million in 2002. But US media reported this week that Chisholm — a Massachusetts native who calls himself a 'die-hard Celtics fan' — will assume the role of governor because under the terms of the deal, Grousbeck will no longer have the required 15 percent ownership stake the league requires to hold that role. Nevertheless, ESPN reported that Chisholm and Grousbeck 'plan to run the team together as originally planned.' The Celtics are one of the most storied in the NBA's history, with a record 18 championships, the most recent in 2024.
Arab News
a day ago
- Arab News
Zain sponsorship of boccia event empowers the disabled
Digital and telecommunications services provider Zain KSA has announced its sponsorship of the 2025 Boccia Championship, aligning the move with its corporate sustainability strategy and commitment to empowering all segments of society. Organized by the Saudi Boccia Federation, the championship will be held from Aug. 30 to Sept. 1 at the Prince Faisal bin Fahd Olympic Complex in Riyadh. The sponsorship underscores Zain KSA's commitment to supporting persons with disabilities, particularly quadriplegic athletes whose determination and competitive spirit inspire the wider community. The company views inclusion as a foundation for excellence and sustainable progress, believing that empowering persons with disabilities strengthens society as a whole. As digital sponsor, Zain KSA will highlight sport as a symbol of hope and resilience. The initiative reflects the company's approach of pairing digital innovation with social responsibility, in line with its mission to build a better future and advance Saudi Vision 2030's goal of a vibrant, inclusive society where all individuals have access to equitable opportunities to achieve their ambitions. Eman Abdullah Al-Saidi, vice president of corporate communications at Zain KSA, said: 'We believe that true innovation is only complete when it really touches people's lives. Through our digital ecosystem, we hope to inspire a wonderful world that empowers every individual to unlock their potential, leaving no one behind. Our sponsorship of the Boccia Championship reflects our deep commitment to empowering people with disabilities. 'Beyond our social responsibility agenda, this is part of our strategic vision for a more inclusive digital world. These champions inspire us with their stories and embody the spirit of determination that we hope to mirror in every initiative we launch. With this sponsorship, we reaffirm our commitment to helping build a vibrant society where everyone can thrive and ambitions are embraced, in alignment with Saudi Vision 2030.' The sponsorship builds on the company's wide-ranging social responsibility programs, which have delivered measurable results. Zain KSA received the Gold Award from the Ministry of Human Resources and Social Development at the inaugural CSR Award in recognition of its impactful sustainability and social responsibility initiatives. The accolade underscores the company's strategy of empowering the Saudi community and advancing national, humanitarian, and social development efforts within a responsible business framework.
Arab News
a day ago
- Arab News
Lebanon beat Japan to make FIBA Asia Cup quarterfinals
JEDDAH: Lebanon's national basketball team advanced to the quarterfinals of the 2025 FIBA Asia Cup with an impressive 97-73 over Japan on Tuesday night. For the latest updates, follow us @ArabNewsSport The Lebanon team played in front of an enthusiastic crowd at the Al-Jawhara Arena and dominated defensively and offensively. The victory keeps Lebanon's podium hopes alive as they prepare for a quarterfinal showdown with New Zealand, while Japan bowed out at 2-2. Dedric Lawson, the most valuable player of the franchise, led the charge with a 24-point, 10-rebound double-double. He also added three assists, two steals and a block, controlling the paint on both ends. Lawson, who had a special night on court, told Arab News: 'My last two games weren't too great, but my teammates have lifted me up throughout this tournament, so I'm just here to fight for them and give those guys what they want.' He continued: 'Japan is a great team and I am really glad we beat them.' In the post-press conference, Lebanon coach Miodrag Perisic told the press that he was proud of his players. 'Congratulations to our guys, who are really amazing. They showed character and showed who they are,' he said. Lebanon's Sergio El-Darwish said: 'It was a great game. We were very focused. We had a team meeting yesterday. 'Things weren't going well, but in this game, we showed who we are. We played defense first. When we play our kind of basketball, it's tough for us to get beaten.' In another quarterfinal qualification on Tuesday, two-time champions South Korea advanced by beating Guam 99-66 victory at King Abdullah Sports City.
