Boston Celtics Change Hands: Private Equity Titan Bill Chisholm Acquires Team for $6.1 Billion!

BOSTON (AP) — The NBA has officially agreed to sell the Boston Celtics to a group led by Bill Chisholm, a private equity leader. This sale values the team at a remarkable $6.1 billion. Chisholm is set to own at least 51% of the franchise, gaining full control by 2028, which might push the total price to $7.3 billion.

This sale marks the highest ever for a sports team in the U.S. Recently, Mark Walter, owner of the Los Angeles Dodgers, announced he will buy a controlling stake in the Lakers, which is estimated to value the franchise at $10 billion. Current owner Jeanie Buss is likely to keep at least 15% of the team.

The former record for a U.S. sports franchise was set earlier this year when the Washington Commanders sold for $6.05 billion. In the NBA, the previous high was $4 billion for the Phoenix Suns, purchased by mortgage firm owner Mat Ishbia.

Chisholm, a Massachusetts native, graduated from Dartmouth College and the Wharton School at the University of Pennsylvania. He’s the managing partner of Symphony Technology Group. Joining him in this acquisition are local business figures Rob Hale, a current Celtics shareholder, and Bruce Beal Jr.

The Celtics were previously owned by Wyc Grousbeck, who bought the team in 2002 for $360 million. Under his leadership, the Celtics won NBA championships in 2008 and 2024, bringing their total to a record 18 titles.

In a competitive bidding process, Chisholm beat at least two other groups, including one led by former Celtics minority partner Steve Pagliuca. Pagliuca has revealed plans to buy the WNBA’s Connecticut Sun for $325 million and move the team to Boston, although the WNBA has expressed concerns about this move.

This record-setting sale reflects not only the rising value of sports franchises but also the changing landscape of sports team ownership. As the sports industry continues to grow, it will be interesting to see how these changes impact the teams and their local communities in the years ahead.

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Bill Chisholm, Boston Celtics, Mark Walter, Los Angeles Lakers, NBA, California, Connecticut, Massachusetts, Sports, Business, Jeanie Buss, Steve Pagliuca, Rob Hale, Mat Ishbia, Bruce Beal Jr., NBA basketball