The Boston Celtics are set to be sold for a record-breaking initial valuation of $6.1 billion to a group led by Symphony Technology Group managing partner William Chisholm, as confirmed on Thursday. If approved by the NBA’s board of governors after a thorough review, this sale would mark the largest in U.S. major professional sports history. The approval process is expected to take until summer at the earliest.
The $6.1 billion valuation, which could increase as it is just the initial figure, would surpass the previous record set in 2023 when a group led by Josh Harris purchased the NFL’s Washington Commanders for $6.05 billion. Sources were among the first to report the agreement for the sale of the NBA’s reigning champions.
Boston Basketball Partners LLC had announced last summer that it planned to sell the majority of the Celtics either late last year or early this year, with plans to sell the remaining shares in 2028. Wyc Grousbeck, who leads the current ownership group, is expected to remain the Celtics’ governor through the 2027-28 season.
Grousbeck’s group acquired the Boston Celtics for $360 million in 2002. William Chisholm, leading the purchasing group, expressed deep respect for Wyc Grousbeck and his family’s lasting impact on the team over the past 23 years. He stated, “My partners and I have immense respect for Wyc, the entire Grousbeck family, and their indelible contributions to the Celtics organization over the last 23 years. We look forward to learning from Wyc and partnering with Brad Stevens, Joe Mazzulla, and the talented team and staff to build upon their success as we work to bring more championships home to Boston.”
The $6.1 billion sale price would significantly exceed recent NBA franchise sales. In 2023, mortgage firm owner Mat Ishbia bought the Phoenix Suns for $4 billion, while Jimmy and Dee Haslam, owners of the Cleveland Browns, acquired the Milwaukee Bucks for $3.5 billion. Additionally, Mark Cuban agreed to sell the majority of his Dallas Mavericks shares to Miriam Adelson and her son-in-law Patrick Dumont, for $3.5 billion, who are involved with the Las Vegas Sands casino company.
Grousbeck praised Bill Chisholm, calling him “a terrific person and a true Celtics fan, born and raised here in the Boston area.” He added that Chisholm’s passion for both the team and the city of Boston, combined with his strong rapport with the Celtics’ leadership, made him the ideal candidate to become the next governor and controlling owner of the team.
Grousbeck also shared that Chisholm had asked him to continue running the team as CEO and governor for the first three years and to remain as his partner thereafter. “I am glad to do so,” Grousbeck remarked.
