Report on Boston Celtics sale reveals four potential buyers
There are four bidders remaining in the sale of the Boston Celtics, according to a new report by Sportico on Wednesday. The next round of bids for the NBA's winningest franchise are due by the end of the week, after initial bids were due in January.
The group of potential buyers includes Steve Pagliuca, who is currently a co-owner of the team. The Friedkin Group, Philadelphia Phillies minority owner Stan Middleman, and STG Group managing partner William Chisholm are also vying to buy the franchise, according to Sportico.
The Grousbeck family announced intentions to sell the team last summer, just weeks after the Celtics won the franchise's 18th NBA Championship. The Celtics are worth $5.66 billion, according to Sportico, and are expected to set a new record for the highest sale price for an NBA franchise. The current record is the $4 million that Mat Ishbia paid when he bought the Phoenix Suns in 2022.
Steve Pagliuca
In addition to being a co-investor and managing partner of the Boston Celtics, Pagliuca is also a co-chairman of Italian soccer club Atalanta and the former co-chair of Bain Capital. He's been a fixture at Celtics games for the last two decades, and announced his intentions to enter the bidding shortly after the Grousbeck's announced the franchise would be going up for sale.
William Chisholm
Chisholm is the managing partner and chief investment officer of Symphony Technology Group, a private equity firm that he co-founded in 2002. There, Chisholm "leads the firm's investment activities and assumes a hands-on approach in the day-to-day management of STG companies."
Chisholm is a graduate of Dartmouth College, and co-founded The Valent Group and worked at Bain & Company prior to founding STG.
Stan Middleman
Middleman is the president and CEO of Freedom Mortgage and owns a 16.25 percent stake in the Philadelphia Phillies, which he bought in 2023. He serves as the vice chairman of the Phillies, after previously showing interest in ownership stakes of the Cleveland Guardians and Washington Nationals.
The Friedkin Group
The Friedkin Group is based in Texas and has a portfolio that includes stakes in the sports, entertainment, automotive, and hospitality industries. In the sports world, the group owns Italian soccer club AS Roma and Everton of the English Premier League.
Dan Friedkin is the owner and CEO of The Friedkin Group, and is worth $7.5 million, according to Forbes.
Sale of the Boston Celtics
Wyc Grousbeck has been the majority owner and team governor of the Celtics since his Boston Basketball Partners LLC purchased the team for $360 million in 2002. The Grousbeck family made the shocking announcement they intended to sell the team last July, and hope to do so in a two-part process.
The first part of the sale -- for 51 percent of the team -- is set to be complete sometime in 2025, while the remaining portion of the sale would go through in 2028. Grousbeck has announced his intentions to remain in his governor role until the full sale is complete, but it's unclear if that is how things will play out.
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