The Boston Celtics are being sold to William Chisholm for $6.1 billion, team ownership announced Thursday morning. The deal is pending NBA Board of Governors approval.
Chisholm is a co-founder and managing partner of Symphony Technology Group, a private equity firm. He previously worked for Boston-based Bain & Company. Chisholm is a native of Georgetown, Massachusetts, and a Dartmouth College graduate, The Boston Globe reported.
In a statement about the sale, Chisholm said he was a lifelong Celtics fan.
“Growing up on the North Shore and attending college in New England, I have been a die-hard Celtics fan my entire life,” Chisholm said. “I understand how important the Celtics are to the city of Boston – the role the team plays in the community is different than any other city in the country. I also understand that there is a responsibility as a leader of the organization to the people of Boston, and I am up for this challenge.”
Record-setting Celtics sale
ESPN’s Shams Charania reports that the $6.1 billion deal becomes the largest sale for a sports franchise in North America. It surpasses the $6.05 billion sale of the Washington Commanders in 2023.
The Grousbeck family said last year they would be selling the team, just weeks after the Celtics won the franchise’s 18th NBA championship.
Wyc Grousbeck’s role with the Celtics
Wyc Grousbeck has been majority owner of the Celtics since buying the team in 2002 for $360 million. He called Chisholm “a true Celtics fan” and a “natural choice” to be the next controlling owner of the team.
“I know [Chisholm] appreciates the importance of the Celtics and burns with a passion to win on the court while being totally committed to the community,” Grousbeck said. “Quite simply, he wants to be a great owner.”
Grousbeck said he will continue to run the Celtics as CEO and governor through the 2027-2028 NBA season.
Others who are part of the incoming ownership group are Quincy businessman Rob Hale and Bruce Beal Jr., president of Related Companies, which is a New York-based real estate firm.
Steve Pagliuca reacts to Celtics sale news
Current Celtics co-owner Steve Pagliuca was seen as a potential buyer for the team, and he confirmed in a statement released after the sale news on Thursday that his bid was unsuccessful.
“We made a fully guaranteed and financed offer at a record price, befitting the best sports fans in the world, and with all the capital coming from individuals who are fully committed to winning on and off the court,” Pagliuca said. “We have felt it was the best offer for the Celtics. It is a bid of true fans, deeply connected to Boston’s community, and we’ve been saddened to find out that we have not been selected in the process.”
Pagliuca went on to say that if the announces falls through, his group is “ready to check back into the game and bring it home.”
