The NBA on Wednesday approved the sale of the Boston Celtics to an investment consortium led by Symphony Technology Group co-founder and managing director, Bill Chisholm, five months after the then-record $6.1 billion deal was first announced.
In a brief statement, the league said: “The NBA Board of Governors has unanimously approved the sale of the controlling interests in the Boston Celtics to an investor group led by Bill Chisholm. The transaction is expected to close shortly.”
When the agreement was initially reached, the $6.1 billion valuation marked the highest ever for a North American sports franchise. That figure has since been eclipsed by the $10 billion sale of the Los Angeles Lakers to billionaire Mark Walter in June.
The Celtics’ previous owners — the Grousbeck family and Steve Pagliuca — had acquired the franchise for $360 million in 2002. Under the initial sale announcement earlier this year, Wyc Grousbeck was expected to retain his role as team governor and CEO through the 2027–28 season.
However, U.S. media reports this week suggest that Chisholm, a Massachusetts native and self-described “die-hard Celtics fan,” will now assume the role of governor. The NBA requires a minimum 15% ownership stake to hold that position — a threshold Grousbeck will reportedly no longer meet under the terms of the new ownership structure.
Despite the change, ESPN reports that Chisholm and Grousbeck plan to continue running the team collaboratively, as originally intended.
The Boston Celtics are one of the NBA’s most storied franchises, boasting a league-record 18 championships — the most recent of which came in 2024.
AFP
