BOSTON — Private equity mogul William Chisholm has made headlines with his agreement to purchase the Boston Celtics, with the deal valuing the storied franchise at a staggering $6.1 billion. This price is the largest ever recorded for an American professional sports team.
Chisholm's agreement, which was finalized on March 20, 2025, hinges on approval from the NBA's Board of Governors this summer. If the sale is sanctioned, it would surpass the $6.05 billion that was paid for the NFL's Washington Commanders in 2023. The Boston Celtics, known as the reigning champions of the NBA and possessing an illustrious history, are now under the potential leadership of Chisholm, a Massachusetts native whose accomplishments in business speak volumes.
Born and raised in Georgetown, a town of about 9,000 residents, Chisholm is a graduate of Dartmouth College and Penn's Wharton School of Business. As the managing partner of Symphony Technology Group, a California-based private equity firm, he has established a reputation that prompted many to view him as an ideal candidate for this leadership role. "Growing up on the North Shore and attending college in New England, I have been a die-hard Celtics fan my entire life," Chisholm expressed in a statement. "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. I also understand that there is a responsibility as a leader of the organization to the people of Boston, and I am up for this challenge."
The ownership group for the Celtics will also include notable Boston businessmen Rob Hale, who already had a stake in the team, and Bruce Beal Jr. This powerful coalition behind the franchise signals a commitment to local ownership that community members are eager to embrace.
Current Celtics owner Wyc Grousbeck, who headed the ownership consortium that bought the team for $360 million back in 2002, will remain involved, staying on as CEO and Governor for the next three seasons. "Bill is a terrific person and a true Celtics fan, born and raised here in the Boston area," Grousbeck remarked. "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. I know he appreciates the importance of the Celtics and burns with a passion to win on the court while being totally committed to the community. Quite simply, he wants to be a great owner."
The arrangement is a two-part sale: Chisholm is set to acquire at least 51% of the team if the NBA board approves the deal. The remaining shares owned by current stakeholders may be retained until 2028, giving them the opportunity to sell their portion at a potentially higher price determined by league revenue growth.
This deal represents a new chapter for the Celtics, a franchise loaded with rich history that recently added another championship title to its impressive accolades by winning their 18th NBA title in June 2024. Jayson Tatum and Jaylen Brown lead the team, continuing the proud legacy of Boston basketball that has produced legends from Bob Cousy to Bill Russell to Larry Bird and Paul Pierce.
Chisholm's competitive bid secured him the position amidst a field that included at least two other parties vying for control of the team. Notably, current Celtics minority partner Steve Pagliuca offered a guaranteed bid with deep financial backing, emphasizing a commitment to maintaining a competitive team regardless of luxury tax burdens. Following the announcement, Pagliuca stated, "It is a bid of true fans, deeply connected to Boston's community, and we've been saddened to find out that we have not been selected. 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, to help continue what the Celtics do best — win."
The franchise's transition isn't just a business move; it resonates deeply within the Boston community. Georgetown Town Administrator Orlando Pacheco, reflecting on the news, remarked, "My first reaction is ‘who is that guy? Let’s be friends!’ We’re very happy that the Celtics are going to stay locally owned." Chisholm's connection to the area has incited celebration among local officials and residents alike. Peter Durkee, head of the Georgetown Department of Public Works, shared, "I was seeing if I knew him, maybe he was my neighbor, but nope, he wasn’t my neighbor. But a friend of mine did text me and said his brother went to school with him."
Overall, this venture signals an exciting time for Boston sports and cements a strong future for the Celtics. As the community anticipates the official approval of the sale, all eyes will be on Chisholm and his leadership team, hoping to continue the legacy of excellence that the Celtics embody.
