NBA board approves record $6.1 billion sale of Celtics
nba-approves-6-1b-celtics-sale
The NBA’s board of governors on Wednesday unanimously cleared the sale of the Boston Celtics to an investment group led by private-equity executive Bill Chisholm, establishing a franchise valuation of $6.1 billion.
The league said the transaction is expected to close in the coming weeks. Under the agreement, Chisholm will immediately acquire at least 51% of the team and is positioned to secure full control by 2028, a step that could lift the final price to $7.3 billion.
Record-setting deal
The price eclipses the $6.05 billion paid for the NFL’s Washington Commanders in 2023, the previous high for any U.S. professional sports franchise. It also surpasses the NBA record of $4 billion set when mortgage executive Mat Ishbia bought the Phoenix Suns in 2023.
Los Angeles Dodgers owner Mark Walter has separately agreed to purchase a controlling stake in the Los Angeles Lakers at a valuation of $10 billion, though details of that pending deal, including Walter’s exact share and current owner Jeanie Buss’s planned 15% retention, have not been finalized.
Chisholm’s group
Chisholm, a Massachusetts native and Dartmouth College and Wharton School graduate, is managing partner of California-based Symphony Technology Group. His investor team includes Boston businessmen Rob Hale, already a Celtics shareholder, and Bruce Beal Jr.
The incoming owners will succeed the consortium led by Wyc Grousbeck, which purchased the Celtics for $360 million in 2002 and oversaw NBA championships in 2008 and 2024. Boston’s 18 league titles remain an NBA record.
Competitive bidding
Chisholm prevailed over at least two rival groups, among them a bid headed by former Celtics minority partner Steve Pagliuca. Pagliuca has since announced an agreement to buy the WNBA’s Connecticut Sun for $325 million with plans to relocate the team to Boston, a move contingent on WNBA board approval.
Source: ESPN
