Latest news with #NBAsale
New York Times
10 hours ago
- Business
- New York Times
Celtics sale finalized as Bill Chisholm takes ownership: ‘This truly is a dream come true'
Following unanimous approval from the NBA Board of Governors, the sale of the Boston Celtics to Bill Chisholm has been finalized, the team announced Tuesday. Chisholm takes control of the 18-time champion franchise from a group led by Wyc Grousbeck that owned the Celtics for 23 years. During that span, the Celtics won two NBA titles and were one of the best-run teams in the league. Advertisement Shortly after winning the NBA championship last season, the Celtics were put up for sale. In March, the team announced Chisholm, the managing partner of Symphony Technology Group (STG), would buy the franchise at a $6.1 billion valuation — the highest price paid for a team in North American sports history. Chisholm was born and raised near Boston and has been a lifelong fan of the team. 'This truly is a dream come true for me and my family,' Chisholm said in a statement. 'I feel so fortunate to be here as part of this new investor group, who are accomplished, driven people who care deeply about the Celtics and the Boston community. On behalf of our group, I am thrilled to partner with Wyc, Brad Stevens and Rich Gotham to move this outstanding organization forward. We are committed to building on the legacy of the Celtics and raising banners, and I can't wait for the team to get back out there this fall.' Chisholm will serve as governor of the team while Grousbeck and Aditya Mittal will serve as alternate governors. Grousbeck will also remain CEO through 2028. 'I specifically want to thank Wyc, Steve Pagliuca and their group for their stewardship of the Celtics for the past 23 years; as a fan, I am so grateful for what they have done for the Celtics and the community,' Chisholm said in a statement. Spot the pattern. Connect the terms Find the hidden link between sports terms Play today's puzzle
Yahoo
11 hours ago
- Business
- Yahoo
Boston Celtics sale is done. Bill Chisholm takes over as owner of NBA's most-decorated franchise
BOSTON (AP) — The sale of the Boston Celtics was finalized on Tuesday, with private equity mogul Bill Chisholm taking over control of the NBA's most-decorated franchise from a group led by Wyc Grousbeck that had owned them for more than two decades. The team was put on the market last summer, soon after it won its record 18th NBA championship. Chisholm won the bidding in March with an offer that valued the franchise at more than $6.1 billion — a record price paid for an American professional sports team. The NBA approved the deal unanimously last week, and the money changed hands on Tuesday. Chisholm takes ownership of at least 51% of the team, with full control coming by 2028 at a price that could bring the total value to $7.3 billion. That's the highest price ever paid for a team in the four major North American sports, though a piece of the Los Angeles Lakers changed hands this summer at a price that would value the entire franchise at $10 billion. Grousbeck led a group that bought the Celtics in 2002 for $360 million. Under their ownership, the Celtics won two NBA titles, lost in the finals two other times and made the playoffs in 20 of 23 seasons. ___ AP NBA:
Associated Press
11 hours ago
- Business
- Associated Press
Boston Celtics sale is done. Bill Chisholm takes over as owner of NBA's most-decorated franchise
BOSTON (AP) — The sale of the Boston Celtics was finalized on Tuesday, with private equity mogul Bill Chisholm taking over control of the NBA's most-decorated franchise from a group led by Wyc Grousbeck that had owned them for more than two decades. The team was put on the market last summer, soon after it won its record 18th NBA championship. Chisholm won the bidding in March with an offer that valued the franchise at more than $6.1 billion — a record price paid for an American professional sports team. The NBA approved the deal unanimously last week, and the money changed hands on Tuesday. Chisholm takes ownership of at least 51% of the team, with full control coming by 2028 at a price that could bring the total value to $7.3 billion. That's the highest price ever paid for a team in the four major North American sports, though a piece of the Los Angeles Lakers changed hands this summer at a price that would value the entire franchise at $10 billion. Grousbeck led a group that bought the Celtics in 2002 for $360 million. Under their ownership, the Celtics won two NBA titles, lost in the finals two other times and made the playoffs in 20 of 23 seasons. ___ AP NBA:
