The Celtics are officially owned by Bill Chisholm and his group after unanimous approval from the NBA’s Board of Governors. That means new faces as the winningest franchise in NBA history goes through a major transition. Chisholm and his ownership group bought the Celtics for a then-record $6.1 billion when the sale was announced in March.
The organization released further details Tuesday, including more names as part of the ownership group, along with the leadership structure going forward. Chisholm will be the new governor after retaining control of the franchise. Wyc Grousbeck will remain as CEO, co-owner and alternate governor, which was also reported on last week. Aditya Mittal, a major stakeholder, is also an alternate governor.
“This truly is a dream come true for me and my family,” Chisholm said in a statement. “I feel so fortunate to be here as part of this new investor group, who are accomplished, driven people who care deeply about the Celtics and the Boston community. On behalf of our group, I am thrilled to partner with Wyc, Brad Stevens and Rich Gotham to move this outstanding organization forward. We are committed to building on the legacy of the Celtics and raising banners, and I can’t wait for the team to get back out there this fall.”
Other members of the ownership group include Bruce Beal, Andrew Bialecki, Dom Ferrante, Rob Hale, Mario Ho and Ian Loring. Private investment firm Sixth Street is also a part of the group. When the sale was initially announced, there was reporting that Chisholm was still looking to put together his entire ownership group. But later in the process, the funding wasn’t an issue as Chisholm takes control of the Celtics.
Grousbeck was expected to remain in the governor role through the completion of the sale for a few more seasons. However, there was a tweak in the sale a few weeks before it became complete. Grousbeck will still be "running day-to-day operations with Chisholm and the existing basketball and business management teams," per the team.
“The Celtics have been my life’s work for the past 23 years,” Grousbeck said. “This incredible ride is now continuing. I am fired up to be shoulder to shoulder with Bill as we pull every lever to go after another banner. There is nothing better than winning.”
The Celtics are going through major transitions at the ownership and team level this summer. They shed a significant amount of salary due to basketball penalties. With the C’s facing a retooling season, pressure is off this upcoming 2025-26 season due to Jayson Tatum’s Achilles injury. However, how C’s ownership navigates the future will be a major factor going forward with Chisholm leading the way.
“I specifically want to thank Wyc, Steve Pagliuca and their group for their stewardship of the Celtics for the past 23 years,” Chisholm said. “As a fan, I am so grateful for what they have done for the Celtics and the community.”
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