Boston Celtics It’s for sale For $6.1 billion to William Chisholm, the team’s ownership was announced Thursday morning. The transaction is pending approval from the NBA Governors Committee.
Chisholm is a co-founder and managing partner of Symphony Technology Group, a private equity company. He previously worked for Boston-based Bain & Company. Chisholm is a native of Georgetown, Massachusetts and is a graduate of Dartmouth University, reported Boston Grove.
In a statement about the sale, Chisholm said he was a lifelong Celtics fan.
“I grew up on the North Shore and attended college in New England, and I was a stubborn Celtics fan for my life,” Chisholm said. “I understand how important the Celtics are to the city of Boston. The role that teams play in the community is different from any other city in the country. I also understand that Bostonians are responsible for being the leader of the organization.
Recording Celtics Sale
ESPN’s Shams Charania reports that the $6.1 billion deal will be the largest sales of North American sports franchises. That goes beyond $6.05 billion sale Commander Washington in 2023.
The Grousbeck family said last year they would be like that. Sell the teamweeks after the Celtics won the franchise’s 18th NBA Championship. The first portion of the team’s 51% ownership shares is expected to end this year, with the remainder of the sale taking place in 2028.
The role of Wyc Grousbeck with the Celtics
WYC Grousbeck has been the majority owner of the Celtics since purchasing the team in 2002 for $360 million. He called Chisholm a “true Celtics fan,” a “natural choice,” and became the next dominant owner of the team.
“(Cicholm) appreciates the importance of the Celtics and burns and is passionate about winning courtrooms while being fully committed to the community,” Grousbeck said. “Simply put, he wants to be a great owner.”
Grouseb said he will continue to run the Celtics as CEO and governor throughout the 2027-2028 NBA season.
Others who are part of the incoming ownership group are Quincy businessmen Rob Hale Bruce Beal Jr. is the president of an affiliate company, a New York-based real estate company.
Steve Pagliuca responds to Celtics sales news
Current Celtics co-owner Steve Pagliuca is considered a potential buyer for the team and confirmed his bid was a failed bid in a statement released after Thursday’s sales news.
“We made a fully guaranteed and funded offer at a record price, and have won all the capitals from individuals who are worthy of the best sports fans in the world and are completely committed to court and off-winning,” Pagliuca said. “We felt it was the best offer for the Celtics. It was a true fan bid, connected deeply with the Boston community and found out that it was not a choice in the process.”
Pagliuca went on to say that if the announcement falls, his group is “ready to go back to the game and go home.”
