NBA Approves Sale of Boston Celtics to Bill Chisholm for $6.1 Billion

• The deal values the Boston Celtics at $6.1 billion.
Chisholm will gain control of the team until 2028.
• Pagliuca plans to purchase the Connecticut Sun for $325 million.

This was reported by ABC News, ESPN.

Boston (AP) — The NBA has unanimously approved the sale of the Boston Celtics to a group led by private equity mogul Bill Chisholm. This deal values the franchise at over $6.1 billion — the largest amount ever paid for a professional sports team in the U.S.

The league announced that the deal must be finalized by the end of the year. After this, Chisholm will hold no less than 51% of the team's shares, while overall control will be transferred by 2028 for a price that could raise the total valuation to $7.3 billion.

The previous record for sports franchises in the U.S. was $6.05 billion, which was paid for the Washington Commanders in 2023. The record price for an NBA team was $4 billion, which was paid by owner Mat Ishbia for the Phoenix Suns in 2023.

Bill Chisholm, a native of Massachusetts, is a graduate of Dartmouth College and the Wharton School of Business. He is a managing partner at Symphony Technology Group, which is based in California. The new ownership group also includes business figures from Boston, such as Rob Hale, who is a minority owner of the Celtics, and Bruce Bill Jr.

Wyk Grausbeck led the ownership group that purchased the team in 2002 for $360 million and has since guided the team to two NBA championships in 2008 and 2024. The Celtics have 18 NBA titles, which is a record.

Chisholm primarily surpassed two other groups, one of which was under the leadership of previous minority partner Stephen Pagliuca. Pagliuca announced plans to buy the Connecticut Sun in the WNBA for $325 million and transfer them to Boston, but the league denied the deal.

Tags: Sport/Basketball