Wyc Grousbeck Will Not Remain as Governor of the Celtics After the Sale

• Grousbeck will not be the governor after the sale of the team
• Chisholm receives control over the team with 51% of the shares
• The franchise's value is estimated at $6.1 billion

Wyc Grousbeck will not be the governor of the Boston Celtics after the completion of the sale of the franchise to Bill Chisholm, according to information from reliable sources. He will remain the CEO until 2028 and will become an alternative governor.

Initially, it was anticipated that Grousbeck would stay in the position of governor for three years after the completion of the agreement. However, this decision has changed in recent days, as the Chisholm group is awaiting approval of the agreement from the NBA Board of Governors. The league does not allow an individual to hold the governor's obligations if they do not own at least 15% of the team. The Chisholm group will hold 51% of the team's shares after the sale is completed.

Grousbeck has been the chief governor since 2002, when his family acquired control of the team for $360 million. The franchise's value in the sale process is estimated at $6.1 billion, and the total value, after the buyout of remaining shareholders in 2028, is expected to be around $7.4 billion.

Chisholm and his partner Kimble plan to actively engage in the life of the Boston community, starting with their ownership of the team. The Celtics have 18 NBA titles, which is a league record, trailing only the New York Yankees and the Montreal Canadiens in all professional sports leagues in North America.

Tags: Sport/Basketball