The NBA’s winningest franchise is changing hands, so naturally, that’s huge news for the league. The Grousbeck family announced last week that the Celtics would be sold to Bill Chisholm for a record-breaking $6.1 billion.
The deal still needs to be approved by the NBA’s Board of Governors, which is expected this summer. NBA commissioner Adam Silver, in a news conference Thursday, addressed the Celtics sale from his and the league’s point of view.
“It’s very early days in that transaction,” Silver said. “We’re just learning about it. We haven’t had a chance to not just vet potential new owners but to really dig into the specifics of the deal. ... I think it was clear in the case of the Grousbeck family, the desire was, both for estate planning purposes to sell the team — but I think there’s no question that it’s a terrifically managed franchise.
“There’s also the view that Wyc (Grousbeck) could remain as CEO and potentially governor over a period of time. That might be in the best interest for the organization, including for a new buyer coming in. As I said, it’s just being presented to us now. We haven’t really had a chance to discuss it.”
Silver said the Grousbeck family and Chisholm are still working through those future arrangements. When the deal was announced, it came with the stipulation that current CEO and governor Wyc Grousbeck is expected to remain in his role through the 2027-28 season. That creates an interesting dynamic as Grousbeck still has a significant voice in the organization even after the sale to a new owner.
For now, from the NBA’s side, the process is still early considering the deal was announced just days ago. Chisholm is also reportedly looking for more investors as part of his ownership group. The current ownership group includes current Celtics co-owner Robert Hale, Bruce A. Beal Jr, and Sixth Street, a global investment firm.
“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. “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.”
BETTING: Check out ourMA sports betting guide, where you can learn basic terminology, definitions and how to read odds for those interested in learning how to bet in Massachusetts.