A rumor that was broken by Shams Charania of ESPN and confirmed by the Grousbeck family and the Boston Basketball Partners (the sellers) is that Bay Area software mogul Bill Chisholm has agreed to purchase the Boston Celtics for a record $6.1 billion. This is the highest amount that has ever been paid for any North American sports club.

Joshua Harris, owner of the Philadelphia 76ers, once paid $6 billion for the Washington Commanders of the National Football League. This sale breaks that record. Prior to Mat Ishbia’s purchase of the Phoenix Suns, the previous record for the price of an NBA team was $4 billion.

“Throughout my entire life, I have been a die-hard fan of the Celtics,” Chisholm stated in a statement that was issued for public consumption. “I grew up on the North Shore and attended college in New England.” I am aware of the significance that the Boston Celtics hold for the city of Boston; the role that the team plays in the community is unlike that of any other city in the United States. In addition, I am aware that, as the leader of the organization, I have a responsibility to the people of Boston, and I am willing to take on this challenge.

In a statement, the governor of the team, Wyc Grousbeck, described Bill as “a wonderful individual and a true Celtics fan, having been born and raised in the Boston area.” As a result of his affection for the club and the city of Boston, as well as his compatibility with the other members of the Celtics leadership, he is an obvious choice to take over as the next Governor of the team and to be the controlling owner of the organization. I am aware that he recognizes the significance of the Celtics and that he is driven by a burning desire to triumph on the court while simultaneously demonstrating an unwavering dedication to the community. At its core, he aspires to be an exceptional proprietor. I am delighted to accept his request to continue serving as his partner while also serving as the CEO and Governor of the team for the first three years. He has asked me to do so.

Although the deal is still pending approval from the NBA Board of Governors, which is comprised of the other owners, it is anticipated that it will be finalized.

Chisholm is about to make a purchase that will result in a championship team. Boston won the NBA championship the previous year and is one of the favorites to finish first this year. The organization is in a position to compete for the upcoming seasons; nevertheless, the ownership will have to pay a significant amount of money to maintain the squad at that level.

The announcement that the Grousbecks were selling a 51% interest in the team came as a surprise to the National Basketball Association (NBA) in July of last year. They want to sell the investment in stages, beginning now and continuing until 2028, with Wyc Grousbeck continuing to serve as the team’s governor until that time. As of right now, it is unknown whether Chisolm or the National Basketball Association (NBA), which just witnessed a messy sale of the Minnesota Timberwolves to Mark Lore and Alex Rodriguez in part due to a drawn-out sale, will want this transaction to happen sooner. The Grousbeck family holds a controlling interest in the Boston Basketball Partners, which is a group of investors that formerly controlled the franchise. Despite the fact that Wyc Grousbeck is the face of the team and serves as the governor, his father, Irving Grousbeck, who is 90 years old, was the largest single owner in the family (about 20% of the team) and was reputedly the one who pushed for the sale.

According to the website of Symphony Technology Group (STG), Chisholm is the managing partner of the company. STG is a private equity firm based in San Francisco that invests in “market leaders across the mid-market software and software-enabled tech services landscape.” The STG portfolio includes a number of well-known companies, including RSA and SurveyMonkey, among others.

The National Basketball Association (NBA) had hoped that the sale would fetch a price tag of at least $6 billion since it will have an effect on the buy-in price for growth, assuming that the NBA still intends to proceed in that direction. In 2002, the Grousbeck family and its partners paid a total of 360 million dollars to acquire the Celtics. According to The Athletic, Chisholm’s ownership group comprises Sixth Street, a private equity firm that has an interest in the San Antonio Spurs and plans to spend more than one billion dollars in the Celtics. Another member of Chisholm’s ownership group is the Boston Celtics. Additional individuals who are a part of Chisholm’s group include Bruce A. Beal Jr. and the present Robert Hale, who is already a minority owner of the Celtics.

The current minority owner of the Boston Celtics, Stephen Pagliuca, was widely seen as the front-runner in the competition to acquire the franchise. However, he issued a statement in which he expressed his “deep sadness” at the fact that they were not chosen, so confirming the sale to Chisholm.

The ownership of the Celtics might be exceedingly expensive in the years to come, both on and off the court, exceeding the initial acquisition price of the team.

If the Celtics are able to maintain their championship core together on the court, they will be able to push the opponent deep into the tax apron. During this season, Jaylen Brown’s new maximum contract went into effect, and Jayson Tatum’s already signed maximum contract will begin the following season (2025-26). Additionally, during the following season, Jrue Holiday will receive $32.4 million, Kristaps Porzingis will receive $30.7 million, Derrick White will receive $28.7 million, and the team will negotiate with free agents such as Al Hornet and Luke Kornet.

It is anticipated that the Celtics will have a payroll and tax burden of $252 million for the current season, which places them in fourth place among the league’s highest totals. This figure is anticipated to increase to more than $450 million for the 2025-26 season, which is when the repeater tax finally begins to take effect.

Not only does the Boston Celtics not own TD Garden, but the same group that controls the Boston Bruins of the National Hockey League also owns the TD Garden! There are rumors that Chisholm bought the team in order to utilize them in a real estate transaction to construct a new arena (and perhaps some retail and other facilities surrounding it, depending on the precise location). This is one of the reasons that Chisholm bought the franchise.

 

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