NBA Green Lights Sale Of Boston Celtics To Bill Chisholm-Led Group
American Bill Chisholm, the MD and co-founder of Symphony Technology Group, and his co-investors agreed to purchase the Celtics at an initial valuation of $6.1 billion.
The NBA approved the sale of the side Boston Celtics to an investment group led by Bill Chisholm on Wednesday, five months after the deal worth a then-record $6.1 billion, was agreed.
Chisholm, the managing director and co-founder of Symphony Technology Group, and his co-investors agreed to purchase the Celtics franchise at an initial valuation of $6.1 billion, which was the highest ever offered for a North American sports team.
'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 statement.
'The transaction is expected to close shortly," the statement added.
However, the record has since been surpassed by the sale of Los Angeles Lakers in June to the tune of $10 billion by the Buss family to billionaire Mark Walter.
When the sale of the Celtics was announced, it was stated that Wyc Grousbeck would continue in his roles as 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.
However, US media reported this week that Chisholm, a Massachusetts native who describes himself as 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% ownership stake that the league mandates for that position.
Despite this, reports indicated that Chisholm and Grousbeck plan to run the team together as originally intended.
The Celtics are one of the most storied franchises in NBA history, with a record 18 championships, the most recent in 2024.
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