The Boston Celtics will have a new owner for the first time in more than two decades and two NBA championships. William Chisholm, the managing partner of Symphony Technology Group, will buy the franchise at a $6.1 billion valuation, a source briefed on the deal confirmed to The Athletic.
The sale price is the largest for a North American sports franchise, topping the $6.05 billion a group led by Josh Harris paid for the NFL’s Washington Commanders and far surpassing the $4 billion valuation the Phoenix Suns got when Mat Ishbia bought the team in 2023. It could also set a new baseline for NBA team sales as the league weighs whether to expand and could push prices up for those potential new franchises.
The deal still needs approval from the NBA’s Board of Governors.
Chisholm is a lifelong Celtics fan and grew up on Boston’s North Shore. Sixth Street, a private equity firm, is also buying a portion of the team, as well as current Celtics minority owners Rob Hale and Bruce A. Beal Jr. Sixth Street bought into the Spurs in 2021 and is now one of three firms with investments in multiple NBA franchises.
Wyc Grousbeck, the Celtics’ current governor and CEO, will remain in those roles through the 2027-2028 NBA season, a source briefed on the deal said, and continue to oversee team operations.
Current Celtics minority owner Stephen Pagliuca and Philadelphia Phillies minority owner Stan Middleman were among the other bidders for the Celtics. Pagliuca had been considered the favorite by industry sources for the last few months. Brad Stevens, the team president, met with the final four sales candidates in the final month preceding the sale, according to league sources.
The Celtics went on sale last July, just days after the franchise won its latest NBA title. The team has been owned by a consortium led by the Grousbeck family since 2002. That group bought the Celtics for $360 million and now sells it for nearly 20 times as much.
Boston is the ninth NBA team to have a controlling ownership sale since 2019, as team owners cash out for large returns.
Chisholm will take over the franchise when it is enjoying immense success but will also face difficult questions. The Celtics are set to be over the luxury tax for the second straight season if their payroll stays at or near its current level. With increasingly punitive repeater tax rates set to kick in next season as a part of the current collective bargaining agreement, keeping the current group together could mean a roster that costs more than $400 million in total payroll plus taxes.
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