The National Basketball Association on Wednesday officially approved the sale of the Boston Celtics to an investment consortium led by Bill Chisholm, five months after the record-setting $6.1 billion deal was initially reached.
“The NBA Board of Governors has unanimously approved the sale of the controlling interests in the Boston Celtics to an investor group led by Bill Chisholm,” the league said in a brief statement.
“The transaction is expected to close shortly.”
Chisholm, who serves as the managing director and co-founder of Symphony Technology Group, and his co-investors initially agreed to acquire the historic Celtics franchise at a valuation of $6.1 billion, marking the highest price ever paid for a North American sports team at the time.
This figure has since been eclipsed by the $10 billion sale of the Los Angeles Lakers in June, when billionaire Mark Walter purchased the team from the Buss family.
At the time of the Celtics sale announcement, it was confirmed that Wyc Grousbeck would remain as chief executive officer and governor, managing team operations through the 2027-28 season.
The Grousbeck family, along with Steve Pagliuca, originally purchased the franchise in 2002 for $360 million.
However, US media outlets reported this week that Chisholm, a Massachusetts native and self-proclaimed “die-hard Celtics fan”, will take on the role of governor, as Grousbeck will no longer hold the minimum 15% ownership stake required by the league to maintain that position.
Despite this change, ESPN noted that Chisholm and Grousbeck “plan to run the team together as originally planned.”
The Celtics remain one of the most celebrated franchises in NBA history, boasting a record 18 championships, including their most recent triumph in 2024.
