The National Basketball Association has officially sanctioned the transfer of ownership of the Boston Celtics to an investment collective spearheaded by Bill Chisholm. The league’s endorsement materializes almost half a year after the Celtics’ former owners consented to cede the franchise to Chisholm for a sum of $6.1 billion, establishing a new benchmark for the highest acquisition price ever recorded for a professional sports team in North America.
Upon the culmination of the agreement, Chisholm – who presented the most compelling offer amidst at least two competing parties – will secure at least 51% ownership stake in the team. He is poised to assume complete command by the year 2028, at a valuation that could potentially elevate the franchise’s aggregate worth to $7.3 billion, as reported by The Associated Press.
Hailing from Massachusetts, Chisholm presides as the managing partner of Symphony Technology Group, situated in California. The ownership syndicate also encompasses prominent Boston-based entrepreneurs Rob Hale (an existing shareholder in the Celtics) and Bruce Beal Jr.
Wyc Grousbeck, who spearheaded a consortium that procured the franchise for $360 million back in 2002, will allegedly no longer maintain his position as governor once the transaction is finalized. Nevertheless, he is anticipated to retain the title of CEO and will function as an alternate governor.
Celtics’ trajectory shifts as Wyc Grousbeck is slated to relinquish his role as governor during the transition of ownership, according to reports
Jasmyn Wimbish
Under the stewardship of the preceding ownership group (Boston Basketball Partners LLC), the Celtics augmented their collection of NBA championships, clinching their 17th title in 2008 and their 18th in 2024. Boston also secured berths in the NBA Finals in both 2010 and 2022.
The Celtics’ tally of 18 championships ranks third among all professional sports franchises in North America, trailing only the Yankees and Canadiens.
