NBA approves American record sale of Boston Celtics to private equity mogul Bill Chisholm
The league said the transaction is expected to close soon. When it does, Chisholm will take ownership of at least 51 per cent of the team, with full control coming by 2028 at a price that could bring the total value to $11.15 billion (US$7.3 billion).
That's the largest price ever paid for an American professional sports team, though Los Angeles Dodgers owner Mark Walter has agreed to buy a controlling share of the Lakers in a deal that would place the value of the entire franchise at $15.27 billion (US$10 billion).
It's not clear how much Walter would own; current owner Jeanie Buss is expected to retain at least 15 per cent of the team.
The previous record for a US sports franchise was the US$6.05 billion paid for the NFL's Washington Commanders in 2023. The record price for an NBA team was the US$4 billion mortgage firm owner Mat Ishbia paid for the Phoenix Suns in 2023.
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.
Wyc Grousbeck led the ownership group that bought the team in 2002 for US$360 million and presided over NBA championships in 2008 and 2024. The franchise's 18 NBA titles is a record.
Chisholm outbid at least two other groups, one led by previous Celtics minority partner Steve Pagliuca.
Pagliuca has since announced plans to but the WNBA's Connecticut Sun for US$325 million and move them to Boston, but the women's league has baulked at the deal.
AP
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