TITLE: Grousbeck to Step Aside as Celtics Governor Once Chisholm Deal Clears
SLUG: grousbeck-to-step-aside-as-celtics-governor-once-chisholm-deal-clears
CONTENT:
Wyc Grousbeck will surrender the Boston Celtics’ governor position as soon as the NBA signs off on William Chisholm’s purchase of a 51 percent stake in the franchise, according to ESPN reporters Shams Charania and Ramona Shelburne.
The original agreement called for Grousbeck to stay on as governor through the 2027-28 season, when Chisholm’s group is scheduled to acquire the remaining shares. That timeline has now been scrapped; Chisholm will assume the title immediately after the first phase of the sale is approved, a decision expected in the near future.
While Grousbeck is relinquishing the top organizational role, he will continue to serve as the Celtics’ chief executive officer and will be listed as an alternate governor, ESPN noted.
Keeping a former majority owner in charge after transferring controlling interest is uncommon. A similar plan in Dallas fell apart when Mark Cuban sold most of the Mavericks to the Alderson family and Patrick Dumont but did not remain the club’s lead basketball decision-maker.
The Los Angeles Lakers have announced a comparable setup: Mark Walter is purchasing control from the Buss family, and Jeanie Buss is expected to remain governor for several seasons. Unlike the transactions in Boston and Dallas, Walter has been a minority stakeholder in the Lakers for years, giving him a prior working relationship with the Buss family.
Grousbeck’s departure ends more than two decades at the top of the Celtics’ hierarchy. His family purchased the team in 2002 for $360 million, steered it to NBA championships in 2008 and 2024, and is now selling at a valuation of $6.1 billion.
Source: Hoops Rumors
