The NBA unanimously approved the sale of the Boston Celtics to a group led by Bill Chisholm, in a deal valued at $6.1 billion, the second highest in U.S. sports history. The transaction, expected to close soon, marks a financial and sporting milestone, placing the iconic team only behind the Los Angeles Lakers on the list of the most expensive franchise sales.

Chisholm and his partners will initially acquire 51% of the franchise, with plans to increase their stake to 100% in 2028, in a deal that will raise the valuation to $7.3 billion. Current owner Wyc Grousbeck will remain as alternate governor and CEO until that year, ensuring a gradual transition in leadership for the NBA championship team from the 2023-24 season.

Details of the deal and legacy of the outgoing management

The purchase agreement states that Chisholm will assume the role of governor of the Celtics once the sale is completed, while Grousbeck will remain tied to the franchise until 2028, at which point he will step down for not meeting the requirement of holding at least 15% ownership. This move guarantees stability in management as the new investor group fully integrates.

The outgoing group, Boston Basketball Partners LLC, led by Grousbeck, acquired the franchise in 2002 for $360 million. Under his leadership, the Celtics won two NBA titles, in the 2007-08 and 2023-24 seasons, bringing their total championships to 18 and cementing the league’s historic record. With the arrival of Chisholm, a Massachusetts native and lifelong Celtics fan, a new chapter opens for one of the most decorated teams in professional basketball.