Boston Celtics Sold to William Chisholm for $6.1bn
The sale of the Boston Celtics to William Chisholm for $6.1 billion marks a new era for the team, with Chisholm's ownership expected to bring new energy and investment to the franchise, and potentially setting a new standard for NBA team sales, with the team's value and success on the court likely to continue to grow under his leadership.
The Boston Celtics have been sold to American businessman William Chisholm for a record $6.1 billion, surpassing the previous record of $4.8 billion, with Chisholm citing his lifelong fandom and sense of responsibility to the city of Boston as the driving forces behind his purchase.
The current ownership group, led by Wyc Grousbeck, purchased the team for $360 million in 2002 and will see a significant return on their investment. Chisholm, the managing partner of Symphony Technology Group (STG), will take over as the team's controlling owner and governor, with Grousbeck remaining in his roles through the 2027-2028 season. The sale, which includes an investment of over $1 billion from private equity firm Sixth Street, is expected to close in a few months, pending NBA Board of Governors approval.
The new ownership group will face significant challenges, including a luxury tax bill that could exceed $400 million if the team keeps its current payroll. However, the sale is seen as a breakthrough for the NBA, which is considering expansion, and could set a new baseline for NBA team sales. The Boston Celtics are one of the most successful teams in the league, with a dedicated fan base and a rich history of success.
As the team looks to the future under new ownership, fans will be watching closely to see how Chisholm's leadership will impact the team's performance on and off the court. With his commitment to the city of Boston and his passion for the team, Chisholm is poised to make a lasting impact on the Boston Celtics and the NBA as a whole.