After months of uncertainty, the Boston Celtics discovered a brand new proprietor. The crew’s present possession group, the Grousbeck household, has agreed to promote the franchise to a bunch led by Invoice Chisholm, co-founder of Symphony Expertise Group.
The crew will reportedly be purchased for $6.1 billion, a file for a North American sports activities franchise.
BREAKING: Invoice Chisholm, managing companion at Symphony Expertise Group, has agreed to buy the Boston Celtics from the Grousbeck household for a valuation for $6.1 billion, sources inform ESPN. This now could be the most important sale for a sports activities franchise in North America. pic.twitter.com/iPphqSQswe
— Shams Charania (@ShamsCharania) March 20, 2025
The Washington Commanders held the earlier file after being offered to Josh Harris for $6.05 billion in 2023.
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The sale was confirmed by Celtics majority proprietor Wyc Grousbeck, who praised Chisholm as a “terrific person and a true Celtics fan,” in a press release Thursday, per Enterprise Wire.
“Bill is a terrific person and a true Celtics fan, born and raised here in the Boston area,” Grousbeck mentioned. “His love for the team and the city of Boston, along with his chemistry with the rest of the Celtics leadership, make him a natural choice to be the next Governor and controlling owner of the team. I know he appreciates the importance of the Celtics and burns with a passion to win on the court while being totally committed to the community. Quite simply, he wants to be a great owner. He has asked me to run the team as CEO and Governor for the first three years, and stay on as his partner, and I am glad to do so.”
In that very same assertion, Chisholm referred to as himself a “die-hard Celtics fan,” and mentioned he was as much as the problem of main the franchise.
“My approach is to win and raise banners,” Chisholm advised ESPN’s Charania. “That’s in the near term and the long term. I’ve had a couple of sit-downs with Brad and it’s been about aligning our goals, and extending the window of this team. The plans that Wyc and Brad have laid out make perfect sense to me.”
As a part of that plan, Chisholm requested Grousbeck to remain on as crew CEO and governor for the subsequent three seasons, Charania reported.
With Grousbeck confirming the sale, Chisholm will want approval from the NBA’s Board of Governors earlier than he takes over because the crew’s proprietor.
The information comes 9 months after Grousbeck introduced he was seeking to promote the crew. He made that announcement simply weeks after the Celtics defeated the Dallas Mavericks to win the 2024 NBA Finals.
Grousbeck, with the help of an funding group, bought the crew for $360 million in 2002. Below his steering, the Celtics received two championships and appeared within the NBA Finals 4 instances. As of October 2024, Forbes valued the franchise at $6 billion, the very best complete amongst all NBA groups. That valuation wasn’t far off primarily based on Thursday’s reported settlement.
Who’s new Celtics proprietor Invoice Chisholm?
Chisholm co-founded Symphony Expertise Group in 2002 and serves as its managing companion and chief funding officer. Symphony Expertise Group is a non-public fairness agency that manages “data, software and analytics ventures,” per its web site.
Previous to co-founding the enterprise, Chisholm labored at The Valent Group, a risk-management firm; Bain & Firm, a consulting agency; and PaineWebber, Inc., a financial institution and inventory brokerage agency.
Chisholm obtained his bachelor’s diploma from Dartmouth Faculty and his MBA from The Wharton Faculty.
Chisholm’s group was certainly one of not less than 4 within the working to purchase the Celtics, per Sportico. These teams have been reportedly required to submit revised provides for the Celtics on March 14. The Grousbeck household did not waste a lot time debating these provides, opting to go along with Chisholm’s group lower than every week after that deadline.
