There was a required reshuffling before the NBA's board of governors could approve the $6.1 billion sale of the Boston Celtics.
Instead of the original plan, Bill Chisholm will take on the role of lead governor for the franchise. That was supposed to go to Wyc Grousbeck. However, league rules dictate that this position cannot go to someone who owns less than a 15 percent stake in a team.
That's the case with Grousbeck. After the transaction closed on Tuesday, the reason behind that became known.
"Wyc's ownership dipped below 15 percent, but it dipped below 15 percent for good reason," Chisholm told Adam Himmelsbach of the Boston Globe. "We had a lot of demand for investors to put money in, so we raised a little more money."
That's what happens when a global brand and one of the most recognizable sports franchises in the world, one that recently captured an 18th championship, leaving no question as to what team has the most NBA titles, comes on the market.
"I think that was in the best interest of everyone and the Celtics, because we want to make sure we have all the firepower necessary to chase championships, and Wyc has been that kind of team player all along," said Chisholm.
Grousbeck will be an alternate governor and CEO of the organization through 2028.
"When it became clear the governor title was not going to be available because of technical reasons, because of math, Bill said, 'Well, then we're just not going to use that word around the office,'" Grousbeck told Himmelsbach.
"So that says a lot about Bill, that he doesn't care. He just wants to do the right thing for the team, and I feel the exact same way. We're shoulder to shoulder."
Their working in tandem matters far more to the Celtics than who has the official title of lead governor. Plus, Chisholm's investor group raising more money bodes well for the team's future payroll and maintaining the standard set by the previous regime, co-piloted by Grousbeck and Steve Pagliuca.
"The day-to-day operational approach here is the same as it ever was," said Chisholm to Himmelsbach. "Wyc and I are arm in arm here leading the charge with the Celtics."
Steve Pagliuca is staying on for now
After the sale of the NBA's original monarchy closed, Pagliuca released a statement, expressing his gratitude for his 23 years as a franchise co-owner.
Congrats to Bill Chisholm and his team on the closing of the Celtics transaction. Below is a statement from me reflecting on this important news. pic.twitter.com/x9fDeN8pLz
— Steve Pagliuca (@pagsceltics) August 19, 2025
Pagliuca helped guide the Celtics' return to prominence in an era defined by success and perseverance. As president and co-founder of the Shamrock Foundation, he also played a crucial role in the organization's impact on the community.
"It sometimes felt like I was living in a fairy tale," said Pagliuca of a run nearing its end.
However, he also shared that he and his family will retain an investment interest in the Celtics for the next three years. So while the clock is ticking on his time with the team in an official capacity, the final buzzer hasn't blown just yet.