Report: Indian steel magnate Aditya Mittal adds $1 billion investment in Boston Celtics
Per new reporting from Sportico's Scott Soshnick, Kurt Badenhausen, and Eben Novy-Williams, the Boston Celtics new ownership group just got a little bigger -- and the solution to the financing gaps for incoming Celtics majority owner Bill Chisholm is the new addition to to the ownership group.
According to Sportico, Indian steel magnate Aditya Mittal is investing a billion dollars into the team, and will thus likely become the Celtics' second-largest individual stakeholder and could also be the ball club's alternate Governor after Chisholm as the lead team Governor. Per the article, "Mittal is the son of Lakshmi Mittal, who serves as executive chairman of $62 billion-in-revenue ArcelorMittal, the world's second-largest steel and mining company after China's state-owned Baowu."
"Lakshmi started Mittal Steel in the late 1980s and merged the company with France's Arcelor in 2006," they add.
"Aditya has long been a huge supporter of the Boston Celtics," reportedly wrote a spokesperson for Mittal.
"When Wyc and Bill approached Aditya, he saw it as a tremendous opportunity to get involved with this incredible team. Obviously, he remains super focused on ArcelorMittal and also very much looks forward to supporting the team further."
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