NBA approves sale of Boston Celtics to private equity mogul Bill
Chisholm for $6.1 billion
[August 14, 2025]
By JIMMY GOLEN
BOSTON (AP) — The NBA on Wednesday unanimously approved
the sale of the Boston Celtics to a group led by private equity mogul
Bill Chisholm, a deal that values the franchise at $6.1 billion.
The league said the transaction is expected to close shortly. When it
does, Chisholm will take ownership of at least 51% of the team, with
full control coming by 2028 at a price that could bring the total value
to $7.3 billion. |
Lucky the Leprechaun, the Boston Celtics team logo, peers out from in
between Celtics championship banners hanging in their new basketball
team practice facility, Tuesday, June 19, 2018, in Boston. (AP
Photo/Elise Amendola, File) |
|
That's the largest price ever paid for an
American professional sports team, though Los Angeles Dodgers
owner Mark Walter has agreed to buy a controlling share of the
Lakers in a deal that would place the value of the entire
franchise at $10 billion. It’s not clear how much Walter would
own; current owner Jeanie Buss is expected to retain at least
15% of the team.
The previous record for a U.S. sports franchise was the $6.05
billion paid for the NFL’s Washington Commanders in 2023. The
record price for an NBA team was the $4 billion mortgage firm
owner Mat Ishbia paid for the Phoenix Suns in 2023.
A Massachusetts native and graduate of Dartmouth College and
Penn’s Wharton School of business, Chisholm is the managing
partner of California-based Symphony Technology Group. The new
ownership group also includes Boston businessmen Rob Hale, who
is a current Celtics shareholder, and Bruce Beal Jr.
Wyc Grousbeck led the ownership group that bought the team in
2002 for $360 million and presided over NBA championships in
2008 and ’24. The franchise’s 18 NBA titles is a record.
Chisholm outbid at least two other groups, one led by previous
Celtics minority partner Steve Pagliuca. Pagliuca has since
announced plans to but the WNBA's Connecticut Sun for $325
million and move them to Boston, but the women's league has
balked at the deal.
All contents © copyright 2025 Associated Press. All rights
reserved |
|
|
