Latest news with #BillChisholm
USA Today
2 days ago
- Business
- USA Today
Final NBA approval for Boston Celtics reportedly to be approved in next two weeks
For fans of the Boston Celtics, the sale of the team to new majority owner Bill Chisholm is old news at this late hour of the 2025 NBA offseason. But in a strictly technical sense, the deal is not quite done, with the NBA Board of Governors needed to put their stamp of approval on the ownership transfer. But recent reporting from Sportico's Kurt Badenhausen and Scott Soshnick relates that the sale is about two weeks away from being finalized with the NBA. According to Sportico, the sale will cross that final finish line "late next week or early the following week," per multiple sources. The vote, comprised of the other 29 team governors, could also end up taking place virtually, with presential meetings not required for the transfer to be approved. The $6.1 billion sale set records for the valuation of an NBA team at the time of the sale, and will see Chisholm officially take on the mantle as majority owner that also has ArcelorMittal exec Aditya Mittal serving as the second-largest stakeholder in the ownership group. Private equity group Sixth Street will reportedly also have a major stake in the Celtics new ownership group. Listen to "Havlicek Stole the Pod" on: Spotify: iTunes: YouTube:
Yahoo
2 days ago
- Business
- Yahoo
Will WNBA let Steve Pagliuca steward Connecticut Sun? Or will ownership tensions get in way?
Steve Pagliuca and Bill Chisholm have dueled over a professional basketball franchise's future before. Now, with the Connecticut Sun up for sale, both owners are linked again. In March, the NBA's Boston Celtics announced that Chisholm, the managing partner of Symphony Technology Group, would be the next owner of the historic franchise, purchasing the team at a $6.1 billion valuation — a then-record in the NBA. Pagliuca had been a Celtics minority owner since partnering with the Grousbeck family in 2002 and had long been considered a contender to obtain the franchise. When news was announced that he wouldn't be the next majority owner, and Chisholm would be, Pagliuca penned a lengthy statement reflecting on his failed bid. 'We have felt it was the best offer for the Celtics. It is a bid of true fans, deeply connected to Boston's community, and we've been saddened to find out that we have not been selected in the process,' he wrote. On Sunday night, Pagliuca released another statement — his first on X since March when he weighed in on his Celtics bid. Chisholm was not mentioned in Pagliuca's statement, but he appears to be looming over the WNBA team's potential sale. This time, Pagliuca wants to buy the WNBA's Connecticut Sun. But will the WNBA let him? Or will conflicts — potentially with Chisholm yet again — hold up the transaction? Pagliuca is reportedly seeking to purchase the Sun at a women's professional sports team record $325 million sale price and would then invest $100 million in a practice facility. The franchise, according to the Boston Globe, could relocate to Boston as soon as 2027, if a deal were to be finalized. (Pagliuca said in his statement he wants to keep the Sun in New England, and he specifically mentioned support from the governors of both Massachusetts and Rhode Island.) A record deal to an ownership group would seemingly be a coup for the WNBA — the last WNBA team to have a standalone majority sale was the Atlanta Dream in 2021 for less than $10 million — but the Sun relocating under Pagliuca's watch appears to be facing some resistance. The WNBA said in a statement on Saturday that relocation decisions are made by the WNBA Board of Governors. It added that no group from Boston was among the dozen cities that bid for an expansion team by the Jan. 31 deadline. A source with knowledge of the expansion bids submitted also said Hartford, Conn., was not among the cities that bid for a team, though former Bucks owner Marc Lasry has subsequently bid to relocate the Sun to Connecticut's state capital. Perhaps, most interestingly, the WNBA said that the Celtics' prospective ownership group — led by Chisholm — has also 'reached out to the league office and asked that Boston receive strong consideration for a WNBA franchise at the appropriate time.' (Chisholm's deal is still pending NBA Board of Governors approval.) So Chisholm, the incoming steward of the Celtics, appears to now be interested in a WNBA franchise in Boston at a later date. Pagliuca, an outgoing Celtics partner, is looking to make moves in the near term, yet he can do so only by getting approval from others in the league. A fight appears to be brewing between two power players. One that is especially notable, as the WNBA recently unveiled three new expansion teams (in Detroit, Cleveland and Philadelphia), with NBA ties. It all begs the question, why is the sale process hitting a delay? Pagliuca has already made clear his group's offer is subject to obtaining required league approvals — presumably not only approval of the initial sale, but also, via a separate vote, to also to relocate the franchise. Without both, PagsGroup would not proceed. Boston seems like a logical place for the Sun to relocate. The franchise has already sold out games when it's played at TD Garden in each of the past two seasons, and multiple Sun players have expressed their support for playing in the city. Boston is one of the country's top 10 biggest media markets, and it has proven basketball success. By 2027, the franchise could also be the home of college star JuJu Watkins, as the Sun — with another subpar season next year — would be well-positioned to have the best draft lottery odds in what could become known as The Watkins' Lottery. 'Boston is the perfect place for a WNBA team,' Massachusetts Gov. Maura Healy, a former Harvard basketball point guard and international pro player, said in a statement to The Athletic. 'We are the hub of New England and the birthplace of basketball. We have an incredible sports culture and strong enthusiasm for women's sports. …This would be a great opportunity for our state, for the league and for the players.' That's one politician's take, but internal league politics could prevent it from ever happening. A new NBA owner who just paid billions might not want another owner to steward a professional basketball franchise (in two leagues under the NBA umbrella) in the same city. Then, there is also a potential for the WNBA to upset other professional basketball owners — some of whom also have NBA ties. Last month, Gretchen Sheirr, the Houston Rockets president of business operations, told The Athletic that Houston will continue to pursue a team, after not being awarded any of the three incoming expansion teams in 2028, 2029 and 2030. WNBA commissioner Cathy Engelbert specifically mentioned Houston as being 'up next for sure.' She added: 'There might be opportunities there.' The Houston Chronicle reported Tuesday that the city remains a contender to purchase the Sun, while saying that the Houston expansion bid was at least $50 million short of the eventual $250 million expansion fees that the three recently announced teams are entering in with. If the Sun were sold, it isn't clear whether another current WNBA franchise would be ripe for the Rockets' ownership group to purchase and relocate. Another round of expansion seems years away, making it difficult for Houston, Boston or any other city to get into the WNBA. All of this appears to be partly why Sun president Jennifer Rizzotti said Sunday that a sale by the Mohegan Tribe is 'not quite at the finish line yet.' The Sun might rise in Boston soon enough, but not before another clash. The next most exciting WNBA contest in the city will play out in boardrooms. This article originally appeared in The Athletic. Boston Celtics, Connecticut Sun, NBA, WNBA 2025 The Athletic Media Company
New York Times
2 days ago
- Business
- New York Times
Will WNBA let Steve Pagliuca steward Connecticut Sun? Or will ownership tensions get in way?
Steve Pagliuca and Bill Chisholm have dueled over a professional basketball franchise's future before. Now, with the Connecticut Sun up for sale, both owners are linked again. In March, the NBA's Boston Celtics announced that Chisholm, the managing partner of Symphony Technology Group, would be the next owner of the historic franchise, purchasing the team at a $6.1 billion valuation — a then-record in the NBA. Advertisement Pagliuca had been a Celtics minority owner since partnering with the Grousbeck family in 2002 and had long been considered a contender to obtain the franchise. When news was announced that he wouldn't be the next majority owner, and Chisholm would be, Pagliuca penned a lengthy statement reflecting on his failed bid. 'We have felt it was the best offer for the Celtics. It is a bid of true fans, deeply connected to Boston's community, and we've been saddened to find out that we have not been selected in the process,' he wrote. On Sunday night, Pagliuca released another statement — his first on X since March when he weighed in on his Celtics bid. Chisholm was not mentioned in Pagliuca's statement, but he appears to be looming over the WNBA team's potential sale. This time, Pagliuca wants to buy the WNBA's Connecticut Sun. But will the WNBA let him? Or will conflicts — potentially with Chisholm yet again — hold up the transaction? Pagliuca is reportedly seeking to purchase the Sun at a women's professional sports team record $325 million sale price and would then invest $100 million in a practice facility. The franchise, according to the Boston Globe, could relocate to Boston as soon as 2027, if a deal were to be finalized. (Pagliuca said in his statement he wants to keep the Sun in New England, and he specifically mentioned support from the governors of both Massachusetts and Rhode Island.) A record deal to an ownership group would seemingly be a coup for the WNBA — the last WNBA team to have a standalone majority sale was the Atlanta Dream in 2021 for less than $10 million — but the Sun relocating under Pagliuca's watch appears to be facing some resistance. The WNBA said in a statement on Saturday that relocation decisions are made by the WNBA Board of Governors. It added that no group from Boston was among the dozen cities that bid for an expansion team by the Jan. 31 deadline. A source with knowledge of the expansion bids submitted also said Hartford, Conn., was not among the cities that bid for a team, though former Bucks owner Marc Lasry has subsequently bid to relocate the Sun to Connecticut's state capital. Advertisement Perhaps, most interestingly, the WNBA said that the Celtics' prospective ownership group — led by Chisholm — has also 'reached out to the league office and asked that Boston receive strong consideration for a WNBA franchise at the appropriate time.' (Chisholm's deal is still pending NBA Board of Governors approval.) So Chisholm, the incoming steward of the Celtics, appears to now be interested in a WNBA franchise in Boston at a later date. Pagliuca, an outgoing Celtics partner, is looking to make moves in the near term, yet he can do so only by getting approval from others in the league. A fight appears to be brewing between two power players. One that is especially notable, as the WNBA recently unveiled three new expansion teams (in Detroit, Cleveland and Philadelphia), with NBA ties. It all begs the question, why is the sale process hitting a delay? Pagliuca has already made clear his group's offer is subject to obtaining required league approvals — presumably not only approval of the initial sale, but also, via a separate vote, to also to relocate the franchise. Without both, PagsGroup would not proceed. Boston seems like a logical place for the Sun to relocate. The franchise has already sold out games when it's played at TD Garden in each of the past two seasons, and multiple Sun players have expressed their support for playing in the city. Boston is one of the country's top 10 biggest media markets, and it has proven basketball success. By 2027, the franchise could also be the home of college star JuJu Watkins, as the Sun — with another subpar season next year — would be well-positioned to have the best draft lottery odds in what could become known as The Watkins' Lottery. 'Boston is the perfect place for a WNBA team,' Massachusetts Gov. Maura Healy, a former Harvard basketball point guard and international pro player, said in a statement to The Athletic. 'We are the hub of New England and the birthplace of basketball. We have an incredible sports culture and strong enthusiasm for women's sports. …This would be a great opportunity for our state, for the league and for the players.' That's one politician's take, but internal league politics could prevent it from ever happening. A new NBA owner who just paid billions might not want another owner to steward a professional basketball franchise (in two leagues under the NBA umbrella) in the same city. Then, there is also a potential for the WNBA to upset other professional basketball owners — some of whom also have NBA ties. Advertisement Last month, Gretchen Sheirr, the Houston Rockets president of business operations, told The Athletic that Houston will continue to pursue a team, after not being awarded any of the three incoming expansion teams in 2028, 2029 and 2030. WNBA commissioner Cathy Engelbert specifically mentioned Houston as being 'up next for sure.' She added: 'There might be opportunities there.' The Houston Chronicle reported Tuesday that the city remains a contender to purchase the Sun, while saying that the Houston expansion bid was at least $50 million short of the eventual $250 million expansion fees that the three recently announced teams are entering in with. If the Sun were sold, it isn't clear whether another current WNBA franchise would be ripe for the Rockets' ownership group to purchase and relocate. Another round of expansion seems years away, making it difficult for Houston, Boston or any other city to get into the WNBA. All of this appears to be partly why Sun president Jennifer Rizzotti said Sunday that a sale by the Mohegan Tribe is 'not quite at the finish line yet.' The Sun might rise in Boston soon enough, but not before another clash. The next most exciting WNBA contest in the city will play out in boardrooms. (Photo of Steve Pagliuca: Jonathan Moscrop / Getty Images) Spot the pattern. Connect the terms Find the hidden link between sports terms Play today's puzzle
Yahoo
02-08-2025
- Business
- Yahoo
WNBA ripped by NBA reporter for statement on Connecticut Sun relocating to Boston
The Connecticut Sun are reportedly planning to relocate to Boston within the next two years after being sold to Former Boston Celtics owner Steve Pagliuca. The 2027-28 WNBA season is the target date for a potential move to the TD Garden. In response, the W tried to control the narrative and claim that Cleveland, Detroit, and Philadelphia are ahead of Boston on the league's list of priorities. 'Relocation decisions are made by the WNBA Board of Governors and not by individual teams. As part of our most recent expansion process, in which three new franchises were awarded to Cleveland, Detroit and Philadelphia on June 30, 2025, nine additional cities also applied for WNBA teams and remain under active consideration. No groups from Boston applied for a team at that time and those other cities remain under consideration based on the extensive work they did as part of the expansion process and currently have priority over Boston. Celtics' prospective owner Bill Chisholm has also reached out to the league office and asked that Boston receive strong consideration for a WNBA franchise at the appropriate time,' the league said in a statement, per the Boston Globe's Gary Washburn. Locked On Celtics' John Karalis called the statement a nothingburger. According to Karalis, the WNBA doesn't have the gall to say no to a major market like Boston. 'This is a lot of blah blah blah from the WNBA. The league is not going to keep a team at Mohegan Sun when a major market is calling,' Karalis wrote. Karalis is spot-on. The WNBA has no leverage in this situation. Cathy Engelbert told me at the 2025 American Century Championship last month that partnerships and media are the most important drivers for the WNBA's growth moving forward. 'As a sports league, one of the most important revenue sources is media and partnerships. So, on the business side of things, that would be great,' Engelbert said when I asked for her vision for the league's growth. There's infinitely more sports media coverage and business opportunities to be had in Boston than in Uncasville. We'll see if that's considered as the Sun organization faces an uncertain future in Connecticut.
New York Times
08-07-2025
- Business
- New York Times
Celtics might be done with offseason moves, Al Horford's return ‘unlikely'
BOSTON — While acknowledging the benefit of potentially escaping the luxury tax next season, Celtics president of basketball operations Brad Stevens suggested Tuesday that no further trades are imminent and the Celtics could be done with significant changes this offseason. 'I'd say that who knows what will happen,' Stevens said, 'but as far as us, we're very comfortable with this group heading into next season.' Advertisement The Celtics, currently about $320,000 above the second apron, still need to do some minor roster maneuvering to push themselves under that threshold. While they have also considered more aggressive cost-cutting moves, which would position them to avoid the luxury tax next season, according to league sources, Stevens suggested he will only opt for such a strategy if he can do so without trading away significant draft capital. He said incoming owner Bill Chisholm 'has been pretty clear from the get-go that he wants to make sure that we're prioritizing basketball assets and the ability to retool this thing at the highest level that we can.' 'The most important acquisition that we're going to be able to make in the next couple of years is getting (Jayson) Tatum out of a boot, right?' Stevens said. 'We're not beating that one, so that's going to be the best thing that can happen for us. Everything else we wanna — we have most of our first-round picks still other than the 2029 one. We have a lot of seconds now, so we have some flexibility there — we don't want to take away our chance to use those to become the best that we can be over the next few years, just to make a move to help save money. That's been very clearly stated to me. We'll continue to look at how we can make things a little bit better or tweak things around the edges and maybe something comes up in the next couple weeks, but that's been our mindset.' Boston has explored the possibility of flipping new acquisitions Anfernee Simons and Georges Niang for further salary cap relief, according to league sources, but Stevens' comments hinted that nothing is brewing on that front at this time. The Celtics would need to trim about $20 million in additional payroll to avoid the luxury tax next season. They would reset the harsh repeater tax by staying under the luxury tax threshold in two consecutive seasons. 'There's benefits to that,' Stevens said, 'but it's not the priority, right? The priority is continuing to make sure that we have our future firsts and all these things that are in play for us so that we can then use those to build.' Advertisement Stevens began Tuesday's press conference by thanking Jrue Holiday, Kristaps Porziņģis and Luke Kornet for their contributions to the Celtics and the city of Boston, calling them 'really important people to all of us.' Knowing that the Celtics would need to cut payroll this offseason, Stevens said he let Holiday and Porziņģis know there was a real chance they could be traded about two weeks before the deals happened. Even after those trades, the Boston front office had limited money to offer key big men Luke Kornet and Al Horford. Kornet accepted a bigger offer from the San Antonio Spurs early in free agency, and Stevens sounded prepared to lose Horford as well. Though the beloved veteran hasn't decided on his future yet, Stevens called a return to Boston 'unlikely.' 'The only reason I haven't talked about Al is because that's not final,' Stevens said. 'I could probably talk about Al my whole press conference and not say enough. I don't want to speak in absolute terms until an ultimate decision is made, but (he is) another guy that, if he were to go and play somewhere else, I think, is an all-time Celtic and a winner and did everything he could for this organization.' The threat of the second apron has already done serious damage to Boston's roster. If Horford does leave, the Celtics will have lost four key players from last season's team, including two starters. With Tatum also out indefinitely while rehabbing a ruptured Achilles tendon, much of Boston's rotation will change — and not because Stevens thought those changes would help his team win more games next season. He acknowledged the Celtics traded Holiday and Porziņģis primarily to get under the second apron. Even so, Stevens said the Celtics were 'fortunate because we liked the guys we got back' in those moves. Boston landed Simons in the Holiday trade while acquiring Niang and a 2031 second-round pick in the Porziņģis move. The latter trade also involved the Celtics sending a 2026 second-round pick to Atlanta. 'I think Anfernee is a guy people out here probably don't see as much because of the time that (the Trail Blazers) play,' Stevens said. 'But his ability to score, to shoot the ball, make really hard shots, is pretty elite and you look at a guy that's 26 years old and averaged 20 a game for three straight years, I think he's a really good player, and I think he can get better. That's a big part of it. Then Niang has just added value to winning on each team he's been on. He's a pain to play against, which I very much admire. And he knows what he does well and knows how to bring out the best in his group. It's not a coincidence he was part of the rotation on those really good Philly teams, he was part of the rotation in Cleveland before the trade. The guy's a winner. He knows how to play and knows how to bring out the best in people. So, happy he's here.' The Celtics' free-agent signings of big man Luka Garza and forward Josh Minott became official on Monday. 'We've been limited in what tools we can use with where we are right around the second apron,' Stevens said. 'So we're looking for guys on those contracts that have upside, that are competitors, that are workers, that want to be good, that haven't hit their peak yet but we've seen something in them that we think gives them a chance to be very impactful.' Advertisement After Boston's summer league practice on Tuesday, Garza could be seen at the team's practice facility working on an offensive rebounding drill. Simultaneously, returning center Neemias Queta was going through a workout on a different court. It wasn't clear what other players were around the practice facility at the time, but Stevens said Tatum and Jaylen Brown have been regulars there throughout the early part of the offseason. 'Jayson is working every single day,' said Stevens, who continued to emphasize the Celtics will avoid putting a timeline on the star's return. 'He has literally been here every day, except he took a few days break, but when he takes a few days break, (trainer) Nick (Sang) goes with him. So he's still working every single day. It's been unique to be here in June, and the early part of July, and both Jayson and Jaylen are here. We've played, obviously, late (in the playoffs) and this is usually the time where guys get away. But coming off of each of them having surgery, they've both been here. Jaylen was in this morning, he did a shooting workout, looks good. Jayson was in — moving pretty fast on that boot today. All indications are they are both progressing at incredible rates, which is great. But we're not going to put any pressure on Jayson to get back any time soon. We have no reason to believe that Jaylen won't be all clear and ready to go fairly shortly.'
