One of basketball’s most legendary franchises, the Boston Celtics, are officially on sale for a record $6.1 billion. The sale sets a new benchmark in US sports history, surpassing previous records of $6.05 billion paid to NFL Commander Washington in 2023.
The Celtics, which secured their 18th championship last season, have long been one of the most valuable teams in the NBA. Forbes recently ranked them as the fourth most valuable franchise behind the Golden State Warriors, New York Knicks and Los Angeles Lakers. The deal was led by businessman William Chisholm, co-founder of Symphony Technology Group, a California-based private equity company.
Chisholm, a Massachusetts native and lifelong Celtics fan, expressed his excitement about taking over the ownership.
“We 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,” he said. “We also understand the responsibility that comes with leading this franchise and are ready for the challenge.”
Who’s in and who’s out?
The Celtics’ current ownership group, led by WYC Grousebick and Steve Pagliuca, originally purchased the team in 2002 for $360 million. Grouseck will take on the role of CEO and governor from 2027-28, ensuring a smooth transition in leadership.
Several potential buyers were involved in the mix before Chisholm’s group was selected. Among them was co-owner Steve Pagliuca. He made a strong bid but ended up losing. In a statement, he shared his disappointment, and said,
“I worked tirelessly to put together a powerful offer. I will never stop being a Celtic. If this deal breaks down, my partner and I are ready to step in.”
The new ownership groups include Chisholm, Robert Hale, co-owner of the Celtics, Bruce Beer Jr. (the president of the affiliate), and global investment firm Six Street.
What does this mean for the Celtics’ future?
Changes in ownership can often indicate a major change in team management, but the Celtics appear to be in stable hands. Manager Joe Matzula and president of basketball operations Brad Stevens continue to lead the team on the court, with Chisholm trying to maintain the Celtics’ winning culture.
The current roster of the team led by Jason Tatum and Jalen Brown dominated the Eastern Conference. With strong leadership and financial support, the Celtics are well positioned to continue their success in the coming years.
The sale is pending final approval from the NBA Governor’s board of directors, but once completed, it marks the beginning of a new era of one of basketball’s most renowned franchises.
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