The NBA board of governors on Wednesday unanimously approved the sale of the Boston Celtics to a group led by private equity mogul Bill Chisholm, in a deal that values the franchise at $6.1 billion.
The league said the transaction is expected to close shortly. When it does, Chisholm will take 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.
It is the largest price ever paid for an American professional sports team, although Los Angeles Dodgers owner Mark Walter has agreed to buy a controlling share of the Lakers in a deal that would put the value of the entire franchise at $10 billion. It is not clear how much Walter would own; current owner Jeanie Buss is expected to retain at least 15% of the team.
The previous record for a U.S. sports franchise was the $6.05 billion paid for the Washington Commanders in 2023. The record price for an NBA team was the $4 billion Mat Ishbia, a mortgage firm owner, paid for the Phoenix Suns in 2023.
A Massachusetts native and graduate of Dartmouth College and the University of Pennsylvania’s Wharton School, Chisholm is the managing partner of California-based Symphony Technology Group. The new ownership group also includes Boston businessmen Rob Hale, a current Celtics shareholder, and Bruce Beal Jr.
Wyc Grousbeck led the ownership group that bought the team in 2002 for $360 million and presided over NBA championships in 2008 and 2024. The franchise’s 18 NBA titles are a league record.
Chisholm outbid at least two other groups, one led by former Celtics minority partner Steve Pagliuca. Pagliuca has since announced plans to buy the Connecticut Sun for $325 million and move the team to Boston, but the sale and potential relocation are subject to approval by the WNBA board of governors.
Source: ESPN
