Bill Chisholm Completes Record-Breaking Purchase of Celtics

The sale of the Boston Celtics has officially concluded, with private equity executive Bill Chisholm acquiring control of the renowned NBA franchise. This transaction marks a significant milestone, as Chisholm’s offer valued the Celtics at over $6.1 billion, making it the highest price ever paid for an American professional sports team.

The Celtics were placed on the market last summer, shortly after the team secured its record 18th NBA championship. The deal, which received unanimous approval from the NBA last week, was finalized on March 15, 2023. Chisholm will initially own at least 51 percent of the team, with plans to gain full control by 2028. The total value of this ownership could reach as high as $7.3 billion.

Historic Franchise Ownership Change

Previously owned by a group led by Wyc Grousbeck, the Celtics have had a storied history since their acquisition in 2002 for $360 million. Under Grousbeck’s leadership, the franchise celebrated two NBA championships, reached the finals twice more, and made playoff appearances in 20 out of 23 seasons. The transition to Chisholm signals a new era for the Celtics, who are known for their rich legacy in basketball.

The record-breaking nature of this transaction highlights the increasing value of professional sports franchises in the United States. While the Lakers’ partial sale this summer valued the entire franchise at approximately $10 billion, Chisholm’s acquisition represents a landmark moment in the NBA’s financial landscape.

Chisholm’s background in private equity positions him uniquely to navigate the business of sports, and his vision for the franchise remains to be seen. As the Celtics prepare for the next season, fans and stakeholders alike will be watching closely to see how this ownership change influences the team’s direction and performance in the competitive landscape of the NBA.