Field Level Media
14 Aug 2025, 07:11 GMT+10
(Photo credit: Bob DeChiara-Imagn Images)
A group headed by Bill Chisholm is set to take control of the Boston Celtics after the NBA Board of Governors unanimously approved the sale on Wednesday.
The NBA wrote in a statement, 'The transaction is expected to close shortly.'
The reported $6.1 billion valuation for the club makes it the second-largest sale price for a U.S. sports franchise, behind the $10 billion valuation for the Los Angeles Lakers when Mark Walter purchased that team in June.
Chisholm and his partners are buying at least 51 percent of the Celtics. The ownership stake will increase in 2028, according to the purchase contract, when Chisholm's group is scheduled to buy out the remaining minority shareholders at a $7.3 billion valuation.
According to multiple media reports, Chisholm will take over as the Celtics' governor when the sale goes through. Outgoing owner Wyc Grousbeck is expected to serve as alternate governor and remain the CEO through 2028. Grousbeck will cede his role when he no longer has the required ownership stake of at least 15 percent.
Chisholm, the co-founder and managing partner of the California-based private equity firm STG Partners, is a Massachusetts native and longtime Celtics fan.
Grousbeck and the outgoing ownership group Boston Basketball Partners LLC purchased the Celtics for $360 million in 2002. During that group's tenure, the club won NBA titles in 2007-08 and 2023-24 -- the latter representing Boston's league-record 18th championship.
--Field Level Media
Get a daily dose of San Diego Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to San Diego Sun.
More InformationNAGASAKI, Japan: Eighty years after the U.S. atomic bombing of Nagasaki, the southern Japanese city paused on August 9 to remember...
SAN FRANCISCO, California: OpenAI has unveiled GPT-5, the latest version of the technology behind ChatGPT, promising significant gains...
ATLANTA, Georgia: More than half of the calories Americans consume now come from ultra-processed foods — items high in sugar, salt,...
LONDON, U.K.: As the Trump administration ramped up pressure on U.S. colleges to reduce their reliance on international students, while...
(Photo credit: Bob DeChiara-Imagn Images) A group headed by Bill Chisholm is set to take control of the Boston Celtics after the...
(Photo credit: Bob Kupbens-Imagn Images) Jake Cronenworth and Fernando Tatis Jr. contributed two-RBI singles to a seven-run second...
NEW YORK, New York - U.S. stocks continued their record-breaking run on Wednesday with both the Standard and Poor's 500 and Nasdaq...
NEW YORK CITY, New York: AOL will officially shut down its dial-up internet service on September 30, marking the end of one of the...
MONTREAL/TORONTO: Air Canada is facing mounting pressure in contract talks after hundreds of its cabin crew members staged demonstrations...
WASHINGTON/BEIJING: The United States and China have agreed to extend their current tariff truce for another 90 days, sidestepping...
NEW YORK, New York - U.S, stocks closed sharply higher Tuesday after the release of the latest CPI reading which shows inflation coming...
HUNG YEN, Vietnam: In Hung Yen province near Hanoi, farmers say they are being offered meager compensation, sometimes just a few thousand...
