Record-Breaking Purchase of the Boston Celtics by Bill Chisholm's Group
A consortium headed by Bill Chisholm, managing partner at Symphony Technology Group, has agreed to acquire the Boston Celtics for an astounding $6.1 billion, according to sources from ESPN’s Shams Charania. This valuation surpasses the $6.05 billion that a group led by Josh Harris paid for the NFL’s Washington Commanders in 2023, marking the highest sum ever spent on a franchise in North American sports. It also shatters the record for the most paid for an NBA team control stake, previously set at $4 billion when Mat Ishbia bought the Phoenix Suns two years ago.
Last June, the Celtics claimed their 18th NBA championship by defeating the Dallas Mavericks in a five-game NBA Finals series, edging out their perpetual rivals, the Los Angeles Lakers. Following this triumph, the team began the sale journey when Boston Basketball Partners, LLC—headed by co-owners Wyc Grousbeck and Steve Pagliuca since 2002—unexpectedly announced the decision to sell their controlling stake, leaving many in the basketball community in shock. Their ownership period was marked by over two decades of stable leadership in one of the most storied franchises in North American sports.
In 2002, the Grousbeck-Pagliuca faction purchased the Celtics for $360 million. On Thursday, Pagliuca released a statement on social media acknowledging the sale and expressing his disappointment at not being chosen to buy the Celtics from the Grousbeck family. “I am saddened to find out that we have not been selected in the process,” he remarked.
Sources shared with Charania that despite the sale, Grousbeck will persist as the franchise’s CEO and governor up until the 2027-28 season. This decision was part of the family’s plan announced alongside their intent to sell.
Chisholm, who grew up in Boston and is a lifelong Celtics enthusiast, heads a group that includes notable Boston business figures and philanthropists like Rob Hale, currently a Celtic owner, and Bruce A. Beal Jr., according to Charania’s sources.
Despite the significant timing of this transaction, it is undisputed that for the first time in a generation, the Celtics are changing ownership. Chisholm, having built his wealth in private equity, takes over a team poised to repeat as champions but facing substantial challenges this summer.
Boston is on the verge of becoming the NBA’s first team to exceed $500 million in total payroll and luxury tax costs in the upcoming season. This financial strain coincides with Jayson Tatum’s supermax extension activation and the implementation of the final components of the current collective bargaining agreement, complicating the prospect of maintaining such a talented roster long-term.
For now, the Celtics remain strong contenders for this season’s championship, aiming to be the first to win back-to-back titles since the 2017-18 Golden State Warriors. The Celtics boast 18 NBA championships, only trailing the New York Yankees (27) and Montreal Canadiens (24) across all North American professional sports leagues.