BREAKING NEWS: The NBA board of governors has just approved the sale of the Boston Celtics to a consortium led by private equity mogul Bill Chisholm for a staggering $6.1 billion, marking the highest valuation ever for an American professional sports team. The deal, confirmed earlier today, is set to close shortly, transitioning ownership to Chisholm, who will initially acquire at least 51% of the franchise.
This historic transaction not only redefines the financial landscape of sports franchises but also sets a new record, surpassing the $6.05 billion paid for the NFL’s Washington Commanders in 2023. By 2028, the total valuation could climb to $7.3 billion, according to league officials.
Chisholm, a Massachusetts native and graduate of both Dartmouth College and Penn’s Wharton School, is the managing partner of California-based Symphony Technology Group. He outbid multiple contenders, including a group led by former Celtics minority partner Steve Pagliuca. Pagliuca has since shifted focus, announcing plans to acquire the WNBA’s Connecticut Sun for $325 million and potentially relocate the team to Boston, pending WNBA board approval.
The current ownership group, led by Wyc Grousbeck, bought the Celtics in 2002 for a mere $360 million. Under their stewardship, the franchise celebrated NBA championships in 2008 and 2024, amassing a record total of 18 NBA titles.
The implications of this sale resonate deeply within the sports community, as it not only reflects the skyrocketing value of professional teams but also signifies a new era for the Celtics, a storied franchise with a rich history. Fans and stakeholders are keenly awaiting the transition, marking a pivotal moment in NBA history.
As details continue to emerge, all eyes will be on how this new ownership will shape the future of the Celtics and their legacy in the league. Stay tuned for further updates on this developing story.
