The Boston Celtics, one of the most storied franchises in NBA history, have been sold for a record-breaking $6.1 billion. The new ownership group is led by private equity executive Bill Chisholm, with contributions from Sixth Street, businessman Rob Hale, and real estate executive Bruce Beal Jr. This historic deal surpasses all previous team sales in U.S. sports history and marks a new era for the reigning NBA champions.
A Historic Sale for a Legendary Franchise
The Celtics’ sale is now the most expensive team transaction in U.S. sports history, eclipsing the $6.05 billion purchase of the NFL’s Washington Commanders in 2023. The deal reflects the ever-rising value of professional sports franchises, fueled by massive media rights deals and increasing investor interest.
According to CNBC Sports’ Official NBA Team Valuations released in February, the Celtics were previously estimated to be worth $5.5 billion, making this sale a significant premium. The only franchise valued higher is the Golden State Warriors, with a staggering $9.4 billion valuation.
Who Are the New Owners?
Bill Chisholm, the co-founder of Symphony Technology Group and a lifelong Celtics fan, will become the team’s new leader. He expressed his deep connection to the franchise and its role in Boston’s culture.
“Growing up on the North Shore and attending college in New England, I have been a die-hard Celtics fan my entire life,” Chisholm said in a press release. “I understand how important the Celtics are to the city of Boston – the team’s role in the community differs from any other city in the country. I also understand that there is a responsibility as a leader of the organization to the people of Boston, and I am up for this challenge.”
The investment firm Sixth Street will join Chisholm in ownership and contribute more than $1 billion to the deal, according to a source familiar with the matter. Additionally, current part-owner Rob Hale and Bruce Beal Jr. of Related Companies will be involved in the franchise’s new leadership structure.
Wyc Grousbeck to Remain Until 2028
Despite the ownership change, current team governor and CEO Wyc Grousbeck will retain his role through the 2027-28 season to ensure a smooth transition. Grousbeck, who has been the face of the franchise’s leadership for over two decades, expressed his confidence in Chisholm’s ability to lead the team forward.
“Bill is a terrific person and a true Celtics fan, born and raised here in the Boston area,” Grousbeck said. “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.”
Skyrocketing Sports Franchise Valuations
The Celtics’ sale comes when sports franchise values are soaring, making it increasingly difficult for individuals or families to purchase teams independently. Following in the footsteps of other leagues, the NBA now allows private equity firms to invest in teams, a move that has significantly driven up franchise prices.
One of the primary drivers of these skyrocketing valuations is media rights deals. The NBA’s newly signed 11-year, $76 billion agreement with Walt Disney, NBCUniversal, and Amazon will more than double the league’s annual revenue from broadcasting rights. With these massive contracts, team valuations will continue their upward trajectory.
A Bright Future for the Celtics
With 18 championships, the Celtics remain among the most successful teams in the history of the NBA. They are strong contenders to win back-to-back titles and boast the second-best record in the Eastern Conference.
As the franchise transitions to new ownership, fans will be watching closely to see how Bill Chisholm and his team shape Boston basketball’s future. While the sale still requires NBA approval, it is expected to be finalized this summer, ushering in a new era for the legendary franchise.