The National Basketball Association (NBA) has approved the sale of the Boston Celtics to an investment group led by American billionaire Bill Chisholm, five months after the record $6.1 billion deal was announced.
“The NBA Board of Governors has unanimously approved the sale of controlling interest in the Boston Celtics to an investor group led by Bill Chisholm,” the league confirmed. “The transaction is expected to close shortly.”
Chisholm, managing director and co-founder of Symphony Technology Group, made the purchase with co-investors at an initial valuation of $6.1 billion — the highest ever for a North American sports team at the time. This record has since been surpassed by the $10 billion sale of the Los Angeles Lakers to billionaire Mark Walter.
When the sale was first revealed, Wyc Grousbeck was expected to remain CEO and governor of the franchise through the 2027-28 season. However, reports indicate that Chisholm will now assume the governor role, as Grousbeck no longer meets the NBA’s 15% ownership requirement.
Despite the change, Chisholm — a Massachusetts native and lifelong Celtics fan — and Grousbeck are expected to continue collaborating in managing the team.
The Celtics, one of the NBA’s most storied franchises, hold a record 18 championships, with their latest title secured in 2024.
0 Comments