NBA Approves Sale of Boston Celtics to Investor Group Led by Bill Chisholm for $6.1 Billion

The NBA approved the sale of the Boston Celtics to an investor group led by Bill Chisholm. The deal is expected to close by the end of the week, and when it does, Chisholm will take ownership of at least 51% of the team. The league’s approval comes nearly five months after the ownership decided to sell the franchise to Chisholm for $6.1 billion. The deal marks it as the most expensive sale in sports team history, surpassing the purchase of Phoenix Suns by Mat Ishbia at $4 billion in 2022.

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‎However, Mark Walter’s purchase of the Los Angeles Lakers at $10 billion would surpass it. Coming back to Chisholm, he is expected to have full control of the franchise by 2028 at a price that could bring the total value of the franchise to $7.3 billion. Boston’s current owner Wyc Grousbeck is expected to remain as CEO. He will most likely shift to an alternate governor role after the completion of the sale. Grousbeck sold the team after a clash with his father, Irving, regarding the team’s future payroll after the team won their 18th championship in 2024. Bill Chisholm was born and raised in Massachusetts and went to Dartmouth College and Penn’s Wharton School of business. He is the co-founder, managing partner and chief investment officer of private equity firm STG Partners. The firm is based in Menlo Park, California. Chisholm has a wide portfolio which includes more than 50 active and closed investments. He also has about $12 billion of assets under management.

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‎Apart from him, the second-largest stakeholder in the franchise would be Aditya Mittal, the son of Lakshmi Mittal, who is the chairman of Arcelor Mittal. Mittal would likely replace Grousbeck as alternate governor after the 2027-28 season. The new ownership group also includes Rob Hale, and Bruce Beal Jr, business owners in Boston.