The iconic Boston Celtics have been sold to an ownership group led by private equity executive Bill Chisholm, in a historic deal that values the franchise at $6.1 billion. This sale marks the highest price ever paid for a sports team in U.S. history, eclipsing the previous record of $6.05 billion set by the NFL's Washington Commanders in 2023. The Celtics, renowned for their 18 NBA championships, the most in league history, continue to be a strong contender in the current season.
Boston Basketball Partners, led by the Grousbeck family, is the current ownership group of the Celtics. Wyc Grousbeck, the team's CEO and governor, will maintain his roles through the 2027-2028 season, ensuring continuity in leadership during this transition. Despite this significant development, the NBA has declined to comment on the transaction. The sale is anticipated to be finalized this summer, pending approval.
"Bill is a terrific person and a true Celtics fan, born and raised here in the Boston area," said Wyc Grousbeck.
"Growing up on the North Shore and attending college in New England, I have been a die-hard Celtics fan my entire life," stated Bill Chisholm, expressing his deep-rooted connection to the team.
The new ownership group includes private equity firm Sixth Street, which will invest more than $1 billion into the franchise. The sale takes place during a period of skyrocketing valuations for sports franchises, making it increasingly challenging for individuals or families to purchase teams independently.
The Celtics' success on the court continues, with the team holding the second-best record in the NBA's Eastern Conference this season. They are widely regarded as strong contenders to secure their second consecutive title, further enhancing their storied legacy.
Beyond their on-court achievements, the Celtics hold a significant place in the community, contributing to Boston's cultural and social fabric. This importance is underscored by their role in local initiatives and programs that engage with residents across the city.
Adding to the excitement surrounding the league, the NBA recently signed an 11-year, $76 billion agreement with Walt Disney, NBCUniversal, and Amazon. This new media deal, commencing next season, more than doubles the annual value of the NBA's previous contract, promising increased exposure and revenue for teams like the Celtics.