In a historic turn of events in professional sports, the Boston Celtics have officially been sold for a staggering $6.1 billion, setting a new record for the highest sale of a North American professional sports franchise. This sale was announced on March 20, 2025, and marks a monumental shift for a team that has long been one of the premier franchises in the NBA. The purchase is led by Bill Chisholm, a Massachusetts-born businessman and co-founder of Symphony Technology Group, accompanied by substantial investment through private equity fund Sixth Street and participation from local business investors including Rob Hale and Bruce A. Beal Jr.
The record-setting sale surpasses the previous highest figure of $6.05 billion, which was established when the NFL’s Washington Commanders changed hands in 2023. The Celtics, renowned for their rich history and an astounding 18 NBA championships—collectively the most in league history—find themselves under new ownership after more than two decades under the stewardship of the Grousbeck family, who initially acquired the team in 2002 for just $360 million.
In his first statement as the new majority owner, Chisholm expressed a deep personal connection to the franchise, saying, "I grew up in the Boston area and have been a passionate Celtics fan all my life." This sentiment underlines his commitment not only to the team but also to fostering the connection between the franchise and the local community. The sale will occur in two phases; the first involves acquiring a 51% stake this summer, which hinges on approval from the NBA Board of Governors.
Chisholm's acquisition comes on the heels of the Celtics' recent successes on the court, as they clinched their 18th championship title in June 2024, defeating the Dallas Mavericks. This victory and the team’s popularity have contributed to a dramatically increased valuation, reflecting both the growing interest in basketball and lucrative media deals that have led to an upswing in the overall market for NBA franchises.
As part of the agreement, Wyck Grousbeck, who has served as the team's governor, will remain in a leadership role for the next three seasons, leading a transitional period where Chisholm will learn the intricacies of managing the team while Grousbeck continues to offer guidance during this critical transition. This collaboration aims to ensure seamless continuity within the franchise’s operational framework as the team navigates the evolving landscape of professional sports.
The Celtics have continually drawn attention not only for their athletic achievements but also for their financial prowess in the NBA market. The team's previous ownership model, under Grousbeck and co-owner Steve Pagliuca, transformed the franchise through strategic investments and forward-thinking management, culminating in both on-court success and an impressive increase in its market valuation.
However, the new ownership will not be without challenges, especially regarding financial sustainability. The Celtics are poised to become the first NBA team facing salary and luxury tax payments exceeding $500 million, largely due to key player contracts such as the supermax deal for superstar Jason Tatum.
Chisholm's group will need to adopt creative financial strategies to maintain a competitive roster while balancing financial obligations under the current Collective Bargaining Agreement. The combination of high payrolls and the necessity to maintain a competitive edge in the league may strain resources, necessitating smart investment and expenditure decisions.
The excitement surrounding Chisholm’s new chapter as the team’s owner is palpable among Boston fans who are eager to see how this new leadership will maintain the Celtics’ competitive status in the league while respecting the rich traditions and history of their beloved franchise. The Celtics boast a talented roster featuring emerging stars and seasoned players, making them serious contenders in the league.
In the context of a booming franchise valuation landscape, the Celtics remain a powerful symbol in the NBA, drawing comparisons to elite franchises like the Los Angeles Lakers and the New York Knicks. The immense sale price signals not only the historical significance of the franchise but also the increasing allure that NBA teams offer to high-profile investors looking for both business opportunities and cultural icons.
As the sale to Chisholm unfolds, its ramifications for the broader NBA landscape are likely to be profound. The transaction serves as a benchmark for other franchises, potentially increasing their worth as other teams reassess their market value. The Celtics are not just thriving as a competitive unit; they’re redefining what it means to invest in professional sports.
With this transformative sale, the Boston Celtics stand at the threshold of a new era. While acknowledging a storied past rich in wins and tradition, the franchise is set to embrace innovation and ambition under its new leadership, fostering hope for a vibrant future in Boston basketball.
