The NBA’s Board of Governors has unanimously signed off on the sale of the Boston Celtics to an ownership group led by private equity executive Bill Chisholm, setting a record $6.1 billion valuation for the franchise. The deal marks the most expensive purchase in U.S. professional sports history and the largest ever for an NBA team.
Chisholm, a Massachusetts native and managing partner at Symphony Technology Group, will immediately acquire a majority stake of at least 51%. The agreement calls for his group to complete full ownership by 2028, when the team’s projected value could climb to $7.3 billion.
Wyc Grousbeck, who has served as the team’s lead governor since 2002, will step aside from that role but remain CEO and act as an alternate governor through the transition. Grousbeck’s tenure included four NBA Finals appearances and two championships since his group purchased the team for $360 million over two decades ago.
