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Celtics Sale: Bill Chisholm to Acquire Team for Record $6.1 Billion
After months of speculation, the Boston Celtics have reportedly secured a new owner. The Grousbeck family, who currently own the franchise, have agreed to sell the team to a group led by Bill Chisholm, co-founder of Symphony Technology Group, according to ESPN’s Shams Charania.
Record-Breaking Celtics Sale Deal
The reported sale price of $6.1 billion sets a new record for a North American sports franchise. Previously, the Washington Commanders held the highest sale record when they were sold to Josh Harris for $6.05 billion in 2023.
This news arrives nine months after Wyc Grousbeck, the Celtics’ majority owner, announced his intention to sell the team. Notably, this announcement came just weeks after the Celtics triumphed over the Dallas Mavericks to secure the 2024 NBA Championship.
The Grousbeck Era and Celtics’ Legacy
Grousbeck, alongside an investment group, originally acquired the Celtics in 2002 for $360 million. Under his leadership, the team secured two NBA championships and made four NBA Finals appearances. As of October 2024, Forbes valued the franchise at $6 billion—an estimate that closely aligns with the finalized sale price.
Who is New Celtics Owner Bill Chisholm?
Bill Chisholm, the incoming Celtics owner, co-founded Symphony Technology Group in 2002. He currently serves as its managing partner and chief investment officer. The firm specializes in managing data, software, and analytics ventures, according to its official website.
Before launching Symphony Technology Group, Chisholm held roles at The Valent Group, a risk-management firm, Bain & Company, a global consulting firm, and PaineWebber, Inc., a financial services company. He earned his bachelor’s degree from Dartmouth College and later completed his MBA at The Wharton School.
Competitive Bidding for the Celtics Sale
Chisholm’s group was among at least four investment groups vying for ownership of the Celtics, per Sportico. Bidders were required to submit revised offers by March 14. However, the Grousbeck family swiftly made their decision, finalizing the agreement with Chisholm’s group less than a week after the deadline.
The Celtics Sale marks a new chapter for one of the most storied franchises in NBA history. With Chisholm at the helm, fans and analysts alike will be eager to see how this transition shapes the team’s future both on and off the court.
Sibtain Rizvi