The National Basketball Association (NBA) has unanimously approved the sale of the Boston Celtics to a group led by private equity mogul Bill Chisholm. The deal, valued at more than $6.1 billion, sets a new record as the largest sale of an American professional sports team.
Once finalized, Chisholm will gain at least 51% ownership of the iconic franchise, with plans for full control to transition by 2028. The total value of the deal could eventually climb to $7.3 billion. According to the NBA, the transaction is expected to close in the near future.
This sale surpasses the previous record for a U.S. sports franchise, set in 2023 when the NFL’s Washington Commanders were sold for $6.05 billion. It also shatters the record for an NBA team, which was held by the $4 billion purchase of the Phoenix Suns by mortgage firm owner Mat Ishbia, also in 2023.
Chisholm’s Leadership and Local Ties
Bill Chisholm, a Massachusetts native and graduate of Dartmouth College and the University of Pennsylvania’s Wharton School of Business, is the managing partner of the California-based Symphony Technology Group. His ownership group includes Boston businessmen Rob Hale, a current Celtics shareholder, and Bruce Beal Jr.
The Celtics are one of the NBA’s most storied franchises, boasting 18 championships - the most of any team in the league’s history. The team was previously led by Wyc Grousbeck, who acquired the franchise in 2002 for $360 million. Under Grousbeck’s leadership, the team won titles in 2008 and 2024.
Competitive Bidding and Other Sports Sales
Chisholm’s group outbid at least two other parties for control of the Celtics, including a group led by former minority partner Steve Pagliuca. Pagliuca has since shifted his attention to purchasing the WNBA’s Connecticut Sun for $325 million, with plans to relocate the team to Boston. However, the women’s league has expressed reservations about the proposed deal.
The Celtics sale exemplifies the growing valuation of professional sports franchises, particularly in the NBA. This record-setting transaction highlights not only the historical legacy of the Boston Celtics but also the increasing demand for ownership in major sports leagues.
The deal marks the latest milestone in the Celtics’ illustrious history, with a new ownership team poised to lead the franchise into its next chapter. As the sale nears its conclusion, all eyes will be on Chisholm and his group to see how they continue to build on the team’s legacy.
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