Boston Celtics secure $1 billion investment from Indian steel tycoon Aditya Mittal in historic $6.1 billion sale
The
Boston Celtics
are set for a transformative ownership shift after Indian steel magnate
Aditya Mittal
committed a staggering $1 billion to the franchise. This investment is part of a landmark $6.1 billion sale led by private equity executive William Chisholm, marking one of the most expensive team acquisitions in NBA history.
Tired of too many ads? go ad free now
Aditya Mittal becomes second-largest stakeholder in the Boston Celtics
Aditya Mittal, CEO of global steel leader ArcelorMittal and son of billionaire Lakshmi Mittal, will emerge as the
' second-biggest owner after Chisholm. Mittal's involvement bridges a crucial funding gap for Chisholm's ownership group and positions him for a potential role as alternate governor in the future.
Boston Celtics Jayson Tatum (Image via Getty).
Key details about the ownership transition:
- Primary investor: William Chisholm will take over as team governor after the 2027-28 season, succeeding current governor Wyc Grousbeck.
- Mittal's role: While remaining ArcelorMittal CEO, Mittal will bring his business expertise to the Celtics' strategic decisions.
- Governance shift: The Grousbeck family, who guided the team to four Finals appearances since 2002, will relinquish their majority stake.
Why the Boston Celtics sale comes at a critical juncture
The ownership change arrives during a pivotal offseason for the Celtics. After a second-round playoff exit and concerns over
injury, the franchise faces roster adjustments and financial challenges. Aditya Mittal's investment provides stability and resources to navigate:
- Luxury tax implications
- Offseason roster moves
- Long-term championship contention
A Mittal spokesperson called the Boston Celtics investment a 'tremendous opportunity,' emphasizing his commitment to both the NBA franchise and his corporate leadership role. (H/t
)
The NBA Board of Governors is expected to approve the sale this summer, solidifying the Celtics' valuation as a benchmark in professional sports.
The deal also highlights the growing trend of international investors entering American sports ownership.
With Aditya Mittal's $1 billion backing, the franchise gains not only financial muscle but also global business acumen. The new ownership group will focus on:
1. Stabilizing the team's competitive future
2. Managing salary cap challenges
3. Leveraging Mittal's international network for brand growth
Also read:
The Celtics' $6.1 billion sale sets a new precedent, proving that elite NBA franchises remain lucrative assets for high-profile investors.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
31 minutes ago
- Hans India
Tata-Dassault fuselage deal will boost manufacturing in general
The signing of four Production Transfer Agreements by Dassault Aviation and Tata Advanced Systems Limited (TASL) to manufacture the Rafale fighter fuselage in India is a big fillip to not just defence production in the country but also manufacturing in general. The French plane-maker rightly said that it marks 'a significant step forward in strengthening the country's aerospace manufacturing capabilities and supporting global supply chains.' The fuselage of an aircraft is its central body portion, excluding the engines, tail, and wings. It houses the cockpit, avionics, fuel, and payload—essentially serving as the backbone of the aircraft. In the case of Rafale, a multirole fighter jet renowned for its agility, advanced avionics, and combat effectiveness, manufacturing the fuselage involves high-precision engineering, advanced composites, and tight tolerances. Bringing such a sophisticated process to Indian soil reflects the maturity of the country's aerospace manufacturing environment and the trust global original equipment manufacturers (OEMs) are increasingly placing in Indian firms. In recent years, numerous Indian companies have emerged as key players in the defence manufacturing sector, contributing to the country's vision of self-reliance under the Atmanirbhar Bharat programme. Major public sector undertakings like Hindustan Aeronautics Limited, Bharat Electronics Limited, and Bharat Dynamics Limited have long been at the forefront of producing aircraft, radars, missiles, and other critical defence systems. Alongside them, private sector giants such as TASL, Larsen & Toubro (L&T), Mahindra Defence Systems, and Bharat Forge have significantly expanded their footprint in defence production. These companies manufacture a wide range of equipment, including artillery systems, armoured vehicles, UAVs (unmanned aerial vehicles), and missile components. Their growing capabilities are further boosted by partnerships with global defence firms, enabling technology transfer and joint ventures. This robust participation from both public and private sectors is crucial for reducing import dependence and building a strong, indigenous defence industrial base. The Dassault-TASL partnership is a testament to the vision of the Make in India initiative, which has been pushing for increased localisation in defence procurement. By transferring production capabilities to India, Dassault is enabling Indian companies to climb up the value chain—from low-end assembly to high-end design and production. The collaboration with TASL, a company already experienced in aerospace production, enhances India's ability to build a complex, high-performance defence product and helps cultivate a local ecosystem of skilled workers, advanced suppliers, and engineering talent. Furthermore, this move significantly reduces India's reliance on imports for critical defence hardware, contributing to strategic autonomy. Over the decades, India has been one of the world's largest arms importers. While importing advanced weapon systems has been necessary to meet immediate defence requirements, long-term sustainability lies in indigenisation. The Rafale fuselage manufacturing agreement is, therefore, more than a business deal—it is a step toward building a sustainable and technologically advanced defence industrial base within India. The economic implications of this development are equally profound. High-technology manufacturing generates employment across the value chain—from technicians and engineers to logistics and quality assurance personnel. The joint venture will not only create direct employment but also foster ancillary industries, leading to the development of an aerospace manufacturing cluster with potential spillover benefits to the civilian aviation sector. The infrastructure and capabilities established through this programme can later be leveraged for commercial aerospace production, such as passenger aircraft components, thereby further integrating India into the global aerospace supply chain.
Time of India
an hour ago
- Time of India
Trade war: US-China trade talks in London next week; Trump says 'meeting should go very well'
Donald Trump and Xi Jinping US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and US Trade Representative Jamieson Greer are all set to meet officials in London on Monday for trade negotiations, President Donald Trump announced on Friday. "The meeting should go very well," the president wrote on Truth Social on Friday afternoon. "Thank you for your attention to this matter!" Trump's post on Truth Social Trump disclosed the planned trade discussions following an extensive telephonic conversation with Chinese President Xi Jinping on Thursday. This scheduling update emerged amid ongoing tensions between the US and China, as both nations navigate through a significant trade dispute affecting their economies. The two nations, whose combined goods trade reached $582 billion last year, recently reduced most reciprocal tariffs after successful trade negotiations in Geneva, Switzerland, last month. However, China has since expressed concerns about American actions undermining the progress. Beijing voiced opposition to the US Commerce Department's advisory against using Chinese semiconductors. Additionally, China criticised the Trump administration's decision to cancel certain Chinese students' visas in the US Conversely, the Trump administration claims Beijing is delaying its Geneva commitment to authorise additional rare earth mineral exports to the United States. Following Thursday's conversation with Xi, Trump stated, "There should no longer be any questions respecting the complexity of Rare Earth products." No further clarification was provided. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
an hour ago
- Time of India
The Great Indian Kapil Show 3: Cricketers Rishabh Pant, Abhishek Sharma, Gautam Gambhir, Yuzvendra Chahal shoot for an episode; Navjot Singh Sidhu to fill in for Archana Puran Singh
The Great Indian Kapil Show is gearing up for its return with Season 3, and shooting for the upcoming episodes has already begun. After wrapping an episode with the 'Metro In Dino' cast, The Great Indian Kapil Show recently welcomed Indian cricketers Gautam Gambhir , Rishabh Pant , Abhishek Sharma , and Yuzvendra Chahal . Navjot Singh Sidhu will also apparently be seen making a return on season 3 as he allegedly steps in as Archana Puran Singh's replacement for an episode. Archana is currently vacationing in Switzerland with her family and has been sharing videos and photos from her trip. The episode is set to deliver a mix of humour, fond memories, and fun tales from the dressing room. It's already generating excitement among viewers. With Rishabh's wit, Yuzvendra's playful humour, and Gautam's sharp comebacks, the episode is bound to be full of laughs and entertaining moments. Pictures from the shoot have been making waves across social media platforms and judging by the glimpses, the episode is set to be packed with fun, laughter, and unforgettable moments. Last two seasons, Kapil and the team invited Rohit Sharma and a bunch of cricketers on the show and the episodes were well received. During the debut season of the show, Rohit Sharma and Shreyas Iyer made a special appearance on the couch. Following India's remarkable victory at the 2024 T20 World Cup, Rohit made a comeback in Season 2, and this time he was joined by Suryakumar Yadav, Arshdeep Singh, Shivam Dube, and Axar Patel. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 임플란트 최대 할인 지원해드려요 임플란터 더 알아보기 Undo The first episode will premiere on June 21. Recently, Kapil Sharma shared his excitement about the return of the show with season 3, in a statement. He shared, "Coming back for another season truly feels like coming home to family — and this time, the family's only getting bigger! Every season, we've brought together an exciting mix of guests from all walks of life to keep the laughs rolling and the energy fresh. We have aimed at showcasing diverse conversations about careers, life choices, family, love, and used comedy as the medium to reach everyone. This time, in season 3 apart from our interactions and amazing guests, The Great Indian Kapil Show is doing something extra special. As a thank you for the incredible love we've received, we're turning the spotlight on our superfans. Their stories, their quirks, their talent — they never fail to amaze us. Toh is baar socha kyu na apne fans ko show ka ek bohot hi mazzeddar hissa bana de. Hume to ab 192 countries ne dekh liya... ab aapko milwate hain humare superfans se (So this time, we thought — why not make our fans a truly fun part of the show? After all, we've now been watched in 192 countries… now it's time to introduce you to our superfans!)!" The Great Indian Kapil Show Cast: Sunil Grover On Patch-Up, SRK-Salman Act, Archana On Kapil-Krushna Get the latest lifestyle updates on Times of India, along with Eid wishes , messages and quotes !
