On August 14, 2025, the NBA Board of Governors unanimously approved a blockbuster deal that will see the Boston Celtics sold for a record-shattering $6.1 billion, thrusting the storied franchise into the spotlight of global sports business. The sale, led by private equity mogul Bill Chisholm, is expected to close within days, capping a five-month process that has drawn both fanfare and scrutiny across the league and beyond, according to multiple reports including AP, ESPN, and The Athletic.
Chisholm, a Massachusetts native and managing partner of California-based Symphony Technology Group, will immediately acquire at least a 51% controlling stake in the Celtics. The deal is structured in two stages: the initial majority purchase at $6.1 billion, followed by a buyout of remaining minority shareholders in 2028 that could push the franchise’s valuation as high as $7.3 billion. This tiered transaction, as detailed by The Athletic, ensures Chisholm’s group will ultimately hold full control of one of basketball’s most iconic teams.
Outgoing owner Wyc Grousbeck, who has served as the Celtics’ lead governor since 2002, will remain as alternate governor and CEO until 2028. The NBA’s ownership rules require the lead governor to maintain at least a 15% stake, prompting Grousbeck’s transition once Chisholm’s group assumes majority control. Grousbeck’s leadership has been marked by success, overseeing two NBA championships in 2008 and 2024 and helping the Celtics secure their league-record 18th title just last season, as noted by AP and The Athletic.
"The transaction is expected to close shortly," the NBA said in a statement, confirming the gravity of the moment for both the franchise and the league. Chisholm’s arrival as lead governor marks a significant change in leadership for the Celtics, a team with deep roots in Boston and a passionate fan base that has witnessed decades of triumph and transformation.
The $6.1 billion price tag sets a new high-water mark for American sports franchises, eclipsing the $6.05 billion paid for the NFL’s Washington Commanders in 2023 and the $4 billion spent by Mat Ishbia to acquire the Phoenix Suns that same year. However, the Celtics’ record may be short-lived. Los Angeles Dodgers owner Mark Walter is reportedly finalizing a $10 billion deal to purchase the Lakers, with current owner Jeanie Buss retaining at least 15% of the iconic franchise. This potential transaction, as reported by ESPN and AP, would not only surpass the Celtics’ valuation but also set a new global benchmark for professional sports team sales.
Dodgers manager Dave Roberts captured the excitement surrounding the Lakers’ pending sale, saying, "It’s a very exciting day for the Lakers, for the city of Los Angeles. He’s very competitive, and he’s going to do everything he can to produce a championship-caliber team every single year and make sure the city feels proud about the Lakers and the legacy that they’ve already built with the Buss family." This sentiment echoes the high expectations that now rest on Chisholm’s shoulders in Boston.
The Celtics sale itself was not without controversy. Reports of private equity firm Sixth Street Partners potentially holding a larger stake than Chisholm raised concerns, as NBA rules prohibit private equity firms from being majority shareholders and require the lead owner to invest at least 15% of the purchase price. According to Ministry of Sport and The Athletic, Chisholm addressed these concerns earlier in the year and secured the necessary funding by May 2025. Major contributions included $1 billion from ArcelorMittal CEO Lakshmi Mittal, alongside investments from existing minority owner Robert Hale Jr. and Bruce A. Beal Jr., president of Related Companies.
The process of closing the sale took about five months—significantly longer than other recent NBA franchise transactions, such as those involving the Mavericks, Hornets, and Suns, which wrapped up in less than six weeks. This extended timeline, as reported by Ministry of Sport, fueled speculation about possible structural and funding challenges, but the NBA’s unanimous approval ultimately cleared the way for Chisholm’s group to take the reins.
Chisholm’s acquisition is notable not just for its size but also for its context. He is purchasing the team in his personal capacity, rather than through Symphony Technology Group, his private equity firm. This personal investment underscores his deep ties to Massachusetts and his longstanding support for the Celtics, a narrative that has resonated with both fans and analysts. As AP highlighted, Chisholm is a graduate of Dartmouth College and the Wharton School at the University of Pennsylvania, bringing both local pride and business acumen to the role.
The outgoing ownership group, Boston Basketball Partners LLC, originally bought the Celtics for $360 million in 2002. Under their stewardship, the team returned to prominence, capturing two NBA championships and maintaining a reputation as one of the league’s best-run organizations. The sale to Chisholm marks not just a financial windfall but a generational shift in leadership, with the hope that the franchise’s legacy of excellence will continue.
Chisholm faced stiff competition in the bidding process, outbidding at least two other groups, including one led by former Celtics minority partner Steve Pagliuca. According to AP, Pagliuca has since turned his attention to the WNBA, announcing plans to purchase the Connecticut Sun for $325 million and move them to Boston. However, the women’s league has so far balked at the proposed relocation.
The NBA’s decision to approve the Celtics sale comes at a time when franchise valuations are soaring, reflecting both the league’s global appeal and the increasing financial muscle of private equity and institutional investors. Yet, the league has maintained guardrails to ensure that control remains with individuals or groups who meet its stringent ownership criteria, as highlighted by the recent scrutiny over Sixth Street Partners’ involvement.
As Chisholm prepares to step into the limelight, Celtics fans and NBA observers alike are watching closely. The franchise’s history is rich, its expectations sky-high. Chisholm’s challenge will be to build on the foundation laid by Grousbeck and his partners, navigating the complexities of modern sports business while honoring the traditions that make Boston basketball so special.
With the ink nearly dry on one of the most significant deals in sports history, a new era is dawning for the Boston Celtics. The city, the league, and the basketball world will be watching to see if Chisholm’s leadership can deliver not just financial success, but continued championship glory for this legendary franchise.
