A group led by Bill Chisholm is set to take control of the Boston Celtics after the NBA Board of Governors unanimously approved the sale.
Idman.biz, citing Reuters, reports that the transaction is expected to close shortly, with Chisholm and partners purchasing at least 51 percent of the team. The deal values the franchise at $6.1 billion, making it the second-largest sale price for a U.S. sports team, behind the Los Angeles Lakers’ $10 billion valuation earlier this year.
Under the purchase agreement, Chisholm’s group will acquire the remaining minority shares in 2028 at a $7.3 billion valuation. Chisholm, co-founder of STG Partners and a Massachusetts native, will serve as the Celtics’ governor, while outgoing owner Wyc Grousbeck will remain CEO and alternate governor until he no longer holds the required 15 percent stake.
The previous ownership, Boston Basketball Partners, purchased the team for $360 million in 2002, overseeing two NBA titles, including Boston’s record 18th championship in 2023-24. The sale highlights the growing value of NBA franchises and the enduring legacy of the Celtics.
Idman.biz
