The Boston Celtics have officially agreed to a significant change in ownership, as private equity mogul Bill Chisholm steps in to acquire the franchise for an astounding $6.1 billion. This sale marks a record high price for a North American sports franchise, surpassing the previous record held by the Washington Commanders, sold for $6.05 billion in 2023.
The announcement came on March 20, 2025, and, pending approval from the NBA's Board of Governors, this sale will be a milestone in both Celtics and NBA history. Chisholm, co-founder of Symphony Technology Group, has expressed his lifelong dedication to the team, stating, “Growing up on the North Shore and attending college in New England, I have been a die-hard Celtics fan my entire life. I understand how important the Celtics are to the city of Boston — the role the team plays in the community is different than any other city in the country.”
Wyc Grousbeck, the Celtics' current governor and majority owner, confirmed the sale and will retain his position as CEO and governor through the 2027-2028 NBA season. Grousbeck bought the team for $360 million in 2002 and has overseen a successful period for the franchise that included winning their 18th NBA championship last June.
Chisholm’s acquisition will be structured in two parts. He will initially acquire at least 51% of the team with an option for current owners to sell the remaining shares by 2028 at a potentially higher price, valuing the franchise possibly as high as $7.3 billion based on league revenue growth. Wyc Grousbeck expressed confidence in Chisholm, stating, “Bill is a terrific person and a true Celtics fan, born and raised here in the Boston area. His love for the team and the city of Boston, along with his chemistry with the rest of the Celtics leadership, make him a natural choice to be the next Governor and controlling owner of the team.”
This purchase involved significant competition, with current Celtics minority partner Steve Pagliuca among the bidders. Pagliuca was disappointed not to win the bid, stating, “I will never stop being a Celtic, and if the announced transaction does not end up being finalized, my partners and I are ready to check back into the game and bring it home.” While Chisholm has indicated a desire to work alongside Grousbeck and the current leadership team, he has ambitions of his own. He said, “My approach is to win and raise banners. That’s in the near term and the long term.”
As the new ownership group forms under Chisholm's leadership, which also includes investment from Sixth Street, a private equity firm that has pledged over $1 billion to the franchise, the Celtics face a challenging financial landscape. With the team predicted to exceed the luxury tax threshold again in the incoming season, strategic decisions will need to be made regarding player salaries and team composition amidst increasing expenses.
Boston’s ownership group officially announced the intention to sell the franchise just days after clinching the championship, citing a calculated decision to ensure the team was well poised for the future. Throughout his tenure, Grousbeck emphasized the need for a responsible owner, stating, “We hoped from the beginning to find the right person with the resources and commitment to win banners, and being a great person. Bill checks every box for us.”
Chisholm, who co-founded the Symphony Technology Group in 2002, has managed various successful investments in the tech and analytics sectors. He noted, “I have immense respect for Wyc, the entire Grousbeck family, and their indelible contributions to the Celtics organization over the last 23 years. We look forward to learning from Wyc and partnering with Brad Stevens, Joe Mazzulla, and the talented team and staff to build upon their success as we work to bring more championships home to Boston.”
Chisholm’s commitment reflects not only his personal passion but also a profound understanding of the social responsibilities tied to owning a professional sports team in Boston. Local communities have long viewed the Celtics as a unifier, and Chisholm recognizes, through his words and actions, the weight of leadership entrusted to him.
As the dust settles after one of the most impactful ownership shifts in recent sports history, fans and stakeholders alike are watching the developments closely. With promises of maintaining and enhancing the Celtics' competitive edge, the transition of ownership stands to usher in a new era for the franchise as it continues to aspire for championship glory.
As the NBA contemplates future expansions and the potential for further franchise sales, Chisholm's acquisition sets a precedent that might reshape the landscape of sports ownership. As Boston looks toward its future, the foundation laid by both previous and new ownership creates an intriguing narrative within the storied history of the Celtics.
