The NBA has formally approved the sale of the Boston Celtics to an investor group led by Bill Chisholm. The league’s approval comes nearly five months after the Celtics’ ownership agreed to sell the franchise to Chisholm for $6.1 billion, a record for the most a North American professional sports franchise has ever sold for.Â
When the deal is finalized, Chisholm — who outbid at least two other groups — will take ownership of at least 51% of the team. He will have full control by 2028 at a price that could bring the franchise’s total value to $7.3 billion, according to The Associated Press.Â
A Massachusetts native, Chisholm is the managing partner of California-based Symphony Technology Group. The team’s ownership group also includes Boston businessmen Rob Hale (who is a current Celtics shareholder) and Bruce Beal Jr.
Wyc Grousbeck, who led a group that purchased the franchise for $360 million in 2002, will reportedly no longer stay on as governor when the sale goes through. He is, however, expected to retain the CEO title and will be an alternate governor.Â
Celtics change course as Wyc Grousbeck will no longer stay on as governor during ownership shift, per report
Jasmyn Wimbish
Under the previous ownership (Boston Basketball Partners LLC), the Celtics added to their collection of NBA titles, winning championship No. 17 in 2008 and No. 18 in 2024. Boston also made NBA Finals appearances in 2010 and 2022.Â
The Celtics’ 18 championships is third behind the Yankees and Canadiens among all North American professional sports teams.Â