The Boston Celtics current ownership group, the Grousbeck family, have agreed to sell the franchise to a group led by Bill Chisholm, co-founder of Symphony Technology Group, for a record-breaking $6.1 billion. Chisholm’s agreement to buy the team from Boston Basketball Partners LLC is pending approval by NBA team owners. Current Celtics CEO and governor Wyc Grousbeck will continue in those roles through the 2027-2028 NBA season.
Per ESPN’s Shams Charania: “BREAKING: Bill Chisholm, managing partner at Symphony Technology Group, has agreed to purchase the Boston Celtics from the Grousbeck family for a valuation for $6.1 billion, sources tell ESPN. This now is the largest sale for a sports franchise in North America.” The Grousbeck-Pagliuca group (aka Boston Basketball Partners LLC) purchased the Celtics in 2002 for $360 million.
Celtics majority owner Wyc Grousbeck said in a statement Thursday, per Business Wire: “Bill is a terrific person and a true Celtics fan, born and raised here in the Boston area. His love for the team and the city of Boston, along with his chemistry with the rest of the Celtics leadership, make him a natural choice to be the next Governor and controlling owner of the team. I know he appreciates the importance of the Celtics and burns with a passion to win on the court while being totally committed to the community. Quite simply, he wants to be a great owner. He has asked me to run the team as CEO and Governor for the first three years, and stay on as his partner, and I am glad to do so.”
Chisholm co-founded Symphony Technology Group in 2002 and serves as its managing partner and chief investment officer. Prior to co-founding the business, Chisholm worked at The Valent Group, a risk-management company; Bain & Company, a consulting firm; and PaineWebber, Inc., a bank and stock brokerage firm.
Chisholm said: “Growing up on the North Shore and attending college in New England, I have been a die-hard Celtics fan my entire life. 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.”
The $6.1 billion purchase price surpasses the $6.05 billion price paid to buy the NFL’s Washington Commanders in 2023. It also easily surpasses the record number for the control stake of an NBA team, which was set two years ago when Mat Ishbia bought the Phoenix Suns for $4 billion. (per ESPN.)
The news comes nine months after Celtics majority owner Grousbeck announced he was looking to sell the team, just weeks after the Celtics defeated the Dallas Mavericks to win the 2024 NBA Finals. Under his guidance, the Celtics won two championships and appeared in the NBA Finals four times.
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