A new arena would be costly, but for the group that just paid $6.1 billion to buy the Celtics, it may well be worth the money — if they can find the right site
Boston Celtics guard Derrick White (No. 9) blocked a shot by New York Knicks forward OG Anunoby (No. 8) during an NBA Eastern Conference semifinal against the New York Knicks at TD Garden in May.
Boston Celtics guard Derrick White (No. 9) blocked a shot by New York Knicks forward OG Anunoby (No. 8) during an NBA Eastern Conference semifinal against the New York Knicks at TD Garden in May.Barry Chin/Globe Staff
Now that the sale of the Boston Celtics has officially closed, we can get to the big question: Will billionaire businessman Bill Chisholm and his fellow new owners want to put the Celtics in an arena of their own?
Now I can’t really see anyone renaming the team the Everett Celtics, but don’t count out the idea of the C’s moving into a new basketball palace on the north banks of the Mystic River.
It might seem a long shot that the Celtics would ever leave TD Garden and the North Station neighborhood they’ve called home for close to 80 years. But the team’s new owners are keeping their options open.
Sure, a new arena would be a hefty investment, likely $1 billion or more. But it might be worth it, especially if Boston gets an WNBA team that could fill a decent block of nights alongside the Celtics.
Currently, the Celtics share TD Garden with the Bruins, and rent from Garden owner Delaware North. That’s been the model since the 1970s, when Delaware North bought the old Garden and built a new one in 1995.
But these days, sports facility experts, say team owners often like to build their own arena and then develop the real estate around it. Think restaurants, hotels, offices, and apartments. It’s about making money beyond game nights and TV rights, and it’s what Delaware North has already done with its Hub on Causeway project that opened alongside the Garden in 2019.
“This is another stream of revenue for them to realize instead of letting other real estate investors and developers have success off the back of these venues,” said David Demarest, who runs the national sports and entertainment practice for real estate advisory firm JLL, which counts several pro sports teams, including the Red Sox, among its clients. (Red Sox principal owner John Henry also owns The Boston Globe.)
New Boston Celtics owner Bill Chisholm (center) sat with former lead owner Wyc Grousbeck at a NBA Eastern Conference semifinal against the New York Knicks at TD Garden.
New Boston Celtics owner Bill Chisholm (center) sat with former lead owner Wyc Grousbeck at a NBA Eastern Conference semifinal against the New York Knicks at TD Garden.Danielle Parhizkaran/Globe Staff
So after paying an eye-popping $6.1 billion for the Celtics, the Chisholm ownership group has to be exploring ways to maximize a return on their investment. They’re also likely looking around the NBA at arenas that are, frankly, newer and shinier than the Garden, which turns 30 in September.
“The time when something like a Boston Garden, you played in a facility like that until it was about to fall down, those years are over,” Demarest said. “The life cycles of these venues have become shorter and shorter.”
There’s also something to be said for playing in a place designed for basketball.
The experience is more intense and intimate, said Bill Hanway, executive vice president and global sports leader at design and engineering firm AECOM, compared with a hockey arena designed around a sheet of ice that’s three times the size of a basketball court. And that’s increasingly important as teams have to convince fans to leave the comfort of their homes and big-screen TVs.
“Major sports teams, stadiums, and arenas are trying to create something that is unique and special, and draws people to come and be there in person,“ said Hanway, whose firm has designed or built over 20 NBA arenas, including renovating TD Garden. ”Celtics fans are already very, very committed and loud, but if you think about taking that type of fan commitment and putting it into a space that is even tighter with the fans directly on top, that can be an incredible change."
So how much land would a new arena need? Eight acres just for the arena but more like 20 to 30 acres if a team wants to build retail development around it, Hanway said. Ideally, it’s in or near the urban core of the region. In this city, transit access is a must.
Of course, TD Garden checks all these boxes, and has been a good home for the Celtics for a long time. The team’s lease expires in 2036, and you can bet Delaware North — and the influential Jacobs family behind it —will do all it can to keep the team there.
One thing’s for sure, it can take years to plan any major development around here. So it’s not too soon to start thinking about where a new arena might go and if it makes financial sense.
“2026 seems the right timing to get a better understanding,” said Rob Hale, CEO of Quincy-based Granite Telecommunications and a minority owner who sits on the managing board of the Celtics.
Real estate brokers and developers have already started to make their own short list of sites. So here they are, in no particular order:
Everett
Everett has about 100 acres of former industrial land that could be redeveloped, including a site where the Krafts want to build a soccer stadium.
Everett has about 100 acres of former industrial land that could be redeveloped, including a site where the Krafts want to build a soccer stadium.John Tlumacki/Globe Staff
The Kraft family already wants to build a soccer stadium on a slice of waterfront land near Encore Boston Harbor casino across the Mystic from Charlestown. As Everett Mayor Carlo DeMaria will remind you, there’s plenty of room for another sports venue next door, with close to 100 acres of former industrial land that’s waiting to be cleaned up and redeveloped.
One downside: Weak public transit. DeMaria says he has been pushing for better rail connections, but it’s not happening fast enough. There have been plans for creating a commuter rail stop by Encore, extending the Silver Line, and creating a pedestrian bridge to connect Everett to Somerville’s Assembly Orange Line station. But for thousands of fans coming on winter weeknights, Everett might feel like a bridge too far.
Widett Circle
Widett Circle occupies prime real estate close to downtown and was once considered a site for an Olympic stadium.
Widett Circle occupies prime real estate close to downtown and was once considered a site for an Olympic stadium.Lane Turner/Globe Staff
A decade ago, when Boston was making its bid to host the 2024 Summer Olympics, this industrial patch south of downtown gained fame as a potential site for a stadium to host opening and closing ceremonies and other major events. Olympic supporters touted the 24-acre parcel off I-93 as an area that could be redeveloped after the Games into a new neighborhood of Boston.
But the Olympics never came, and the MBTA needed a rail yard close to South Station, and that’s what became of Widett Circle. But build a deck — similar to New York City’s Hudson Yards over Long Island Railroad train yards — and you might be able to have it all: a sports arena, a new Red Line stop along nearby Dorchester Ave., and a whole new neighborhood. And it turns out the new Celtics ownership group includes someone who knows a lot about complex construction projects: Bruce Beal Jr., the president of Related Companies, which developed Hudson Yards.
West Station
Straightening I-90 in Allston will open up dozens of acres for development, including the former rail depot Beacon Park Yard, and create a new bus-and-transit hub dubbed West Station.
Straightening I-90 in Allston will open up dozens of acres for development, including the former rail depot Beacon Park Yard, and create a new bus-and-transit hub dubbed West Station.David L. Ryan/Globe Staff
This long-dreamed-of project can still feel like a blank canvas, but the straightening of the I-90 Allston interchange is expected to unlock dozens of acres around a new train-and-bus hub known as West Station. The megaproject, dubbed Allston’s Big Dig for its transformative nature, has the potential to create a whole new neighborhood between Harvard and Boston University. And maybe that neighborhood could include a basketball arena.
Former Gillette World Shaving Headquarters
Gillette World Shaving Headquarters is a 31-acre parcel in South Boston that is up for redevelopment.
Gillette World Shaving Headquarters is a 31-acre parcel in South Boston that is up for redevelopment.Nathan Klima For The Boston Globe
Perhaps the most desirable site, but one fraught with political peril, is a 31-acre parcel in South Boston along Fort Point Channel that has long served as Gillette’s “World Shaving Headquarters.” It’s right by the Financial District, near I-93, and close to the Red Line’s Broadway station. And just think of the views of downtown on TV broadcasts.
But Procter & Gamble, which owns Gillette, is already getting lots of input from the neighborhood as it launches community discussions about the redevelopment. And South Boston has chased off other stadium ideas before, from the Patriots going into what’s now the Seaport to a soccer stadium on Columbia Point. A basketball arena in Fort Point could prove a battle royale.
Dorchester Bay City
A woman jogged on the Harborwalk that runs along the former Bayside Expo Center property in Boston.
A woman jogged on the Harborwalk that runs along the former Bayside Expo Center property in Boston.Craig F. Walker/Globe Staff
Speaking of Columbia Point, what about Dorchester Bay City?
Construction has yet to begin on the massive city-approved project which would put office, housing, retail, and research and development on a 36-acre site that encompasses the old Bayside Expo Center. It sits just off the Southeast Expressway, walkable to both the Red Line and commuter rail at JFK/UMass station. Could the mini-city include a Celtics arena?
As long as the broader project can still honor community commitments like affordable housing, co-developer Dick Galvin said he’d be “open to a conversation with anyone.”
Suffolk Downs
The former Suffolk Downs race track is being redeveloped into housing, office, and labs. It's a big enough site that could accommodate a sports arena.
The former Suffolk Downs race track is being redeveloped into housing, office, and labs. It's a big enough site that could accommodate a sports arena.David L. Ryan
And then there’s Suffolk Downs.
Plans have been carefully crafted for the 161-acre former horsetrack that straddles Revere and East Boston to become 10,000 units of housing. But high interest rates and high cost of materials have slowed construction, while a glut of office and lab space has stalled other parts of the project. The site, being developed by Tom O’Brien’s HYM Investment Group, is big enough that it could fairly easily include a sports arena and related uses, which could help jumpstart other development there.
But it’s on the far northern edge of Boston, and transportation is tough. Yes, the site has two Blue Line stops, but highway access is difficult and Route 1A would need an overhaul.
The Celtics spent the offseason being taken over by new owners andshaking up their roster. Will a change of venue be next?
Shirley Leung is a Business columnist and host of the Globe Opinion podcast “Say More with Shirley Leung.” Find the podcast onApple,Spotify, andglobe.com/saymore. Follow her on Threads@shirley02186
Shirley Leung is a Business columnist. She can be reached at shirley.leung@globe.com.