Updated / Thursday, 20 Mar 2025 19:51
A consortium has agreed to purchase the Boston Celtics from the Grousbeck family for a reported $6.1billion (€5.6bn), a record for a North American sports franchise.
The parties confirmed the agreement Thursday and multiple outlets reported on the valuation, which would top the 2023 sale of the NFL's Washington Commanders for $6.05 billion.
The $6.1 billion price tag would shatter the previous NBA record of $4 billion that Mat Ishbia paid for the Phoenix Suns in 2022.
Bill Chisholm, the co-founder and managing partner of the California-based private equity firm Symphony Technology Group, is the Massachusetts native and longtime Celtics fan leading the group.
"Growing up on the North Shore and attending college in New England, I have been a die-hard Celtics fan my entire life," Chisholm said in a statement announcing Thursday's deal. "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."
Wyc Grousbeck and the ownership group Boston Basketball Partners LLC purchased the franchise for $360 million in 2002.
Grousbeck said Chisholm asked him to remain in his role as team CEO and governor through the 2027-28 season, "and I am glad to do so."
"Bill is a terrific person and a true Celtics fan, born and raised here in the Boston area," Grousbeck said. "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 Celtics are one of the most storied sports franchises in North America. They captured their record 18th NBA championship last June, breaking a tie with the rival Los Angeles Lakers.