The defending NBA champion Boston Celtics will soon be under new ownership. The Franchise’s current ownership group agreed to sell the club to William Chisholm for a record $ 6.1 billion, agencies representing both sides involved in sales confirmed to Associated Press.
ESPN and SPORTICO were among those who first reported the sale agreement.
Chisholm is the CEO of Symphony Technology Group, a private equity company based in California. The figure of $ 6.1 billion represents the highest purchase price of a sports team in North American history. An investment group led by Josh Harris previously set the brand in 2023 when it bought NFLS Washington commanders from Daniel Cheater for $ 6.05 billion.
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Boston Celtics’ logo at TD Bannorth Garden before a game against Philadelphia 76ers November 28, 2008 in Boston. (Brian Babineau/NBAE via Getty Images)
Chisholm grew up in Massachusetts and has been a Celtics fan for years, Boston Globe reported. Current Celtics co-owner Robert Hale is part of the incoming ownership group, according to The Globe. Bruce Beal Jr., president of related companies, is also one of the investors in the new group.
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Shortly after Celtics defeated Dallas Mavericks in last year’s NBA final, the Grousbeck family’s Boston Basketball Partners LLC revealed his intention to sell the franchise. The family quoted property and family planning purposes. The family has checked the stored franchise since 2002 when the group closed on a $ 360 million sale.
A towel with the Boston Celtics logo on a chair before an end game at TD Garden in Boston. (Adam Glanzman/Getty Images)
WYC Grousbeck is expected to continue to represent the franchise in the NBA Board of Governors through the 2027-28 season. Boston Basketball Partners LLC intends to sell the balance in his shares in 2028.
TD Garden before match 1 in the second round of NBA playing games between Philadelphia 76ers and Boston Celtics May 1, 2023 at TD Garden in Boston. (David Dow/NBAE via Getty Images)
“My partners and I have tremendous respect for WYC, the entire Grousbeck family and their indelible contributions to the Celtics organization for the past 23 years,” Chisholm said in a release announcing the deal. “We look forward to learning from WYC and collaborating with Brad Stevens, Joe Mazzulla and the talented team and staff to build on their success as we work to bring more championships home to Boston.”
Several NBA franchises changed hands in 2023.
Phoenix Suns was purchased by an owner of the mortgage company Mat Ishbia for $ 4 billion. Milwaukee Bucks was sold to Cleveland Brown’s owners Jimmy and Dee Haslam for $ 3.5 billion. And Mark Cuban accepted the sale of most of his Dallas Maverick’s ownership share of Miriam Adelson and son -in -law Patrick Dumont, who runs Las Vegas Sands Casino Company for $ 3.5 billion.
