URGENT UPDATE: The NBA board of governors has just approved the sale of the Boston Celtics to a group led by private equity mogul Bill Chisholm, valuing the franchise at a record-breaking $6.1 billion. This marks the largest sale ever for an American professional sports team, with the transaction expected to close shortly.
Chisholm, a Massachusetts native and managing partner of California’s Symphony Technology Group, will initially take ownership of at least 51% of the team, with full control anticipated by 2028. This gradual transition could elevate the total franchise value to an astonishing $7.3 billion.
The previous record for a U.S. sports franchise was set in 2023 when the NFL’s Washington Commanders sold for $6.05 billion. The former record for an NBA team was held by the Phoenix Suns, acquired by mortgage firm owner Mat Ishbia for $4 billion in the same year.
As the Celtics prepare for this monumental shift, outgoing owner Wyc Grousbeck, who has led the team since 2002 after purchasing it for just $360 million, will be stepping away. Grousbeck oversaw impressive successes, including NBA championships in 2008 and 2024, contributing to the franchise’s record of 18 NBA titles.
Chisholm outbid at least two other groups, including one led by former Celtics minority partner Steve Pagliuca. Pagliuca has since announced intentions to purchase the WNBA’s Connecticut Sun for $325 million and relocate the team to Boston, pending approval by the WNBA board of governors.
This historic sale is poised to reshape the landscape of the NBA, with significant implications for fans, players, and the broader sports community. Stay tuned as developments unfold in this groundbreaking transaction that is sure to captivate basketball enthusiasts around the world.
