For a record-breaking $6.1 billion, the Boston Celtics were sold to a consortium led by Bill Chisholm, who is a co-founder and managing partner of Symphony Technology Group (STG). This surpasses the $6.05 billion sale of the NFL’s Washington Commanders in 2023 and sets a new record for North American sports teams.
Details of the Transaction
The deal defines a two-step buying process. First, Chisholm’s group will buy at least 51% of the Celtics pending approval from the NBA’s Board of Governors, which is expected by this summer. Existing owners may hold onto their shares until 2028, at which time they can sell for possibly a higher valuation, depending on the growth of league revenue.
The international investment firm Sixth Street, along with prominent Boston businessmen Rob Hale and Bruce A. Beal Jr., are leading the new ownership group.
About Bill Chisholm
Bill Chisholm, a Massachusetts native from Georgetown, has been a Celtics supporter all his life. He and a partner started STG in 2002 with a specific interest in making investments in companies providing mid-market enterprise software and technology services. Through his management, STG has overseen more than 50 companies with $10 billion in assets as of March 2023.
Chisholm’s long-standing relationship with the Boston region and the Celtics has been emphasized by existing ownership, with departing CEO Wyc Grousbeck stating that he is confident Chisholm is committed to the legacy of the team.
Implications for the Celtics
The Celtics, winners of their 18th NBA championship just last year, are listed among the league’s most valuable franchises. The roster, featuring Jayson Tatum and Jaylen Brown among its stars, has led to record payroll figures, with their combined payroll and luxury tax tab estimated at $513 million for the 2025-26 season. This setting will be a challenge for the new ownership in navigating NBA luxury tax regulations while remaining competitive.
Leadership Transition
Wyc Grousbeck, who led the buyout of the Celtics in 2002 for $360 million, will remain as CEO and Governor of the team until 2027-28 in order to assure an uninterrupted transfer of ownership. Such stability ensures continued prosperity in the midst of transferring stewardship.
NBA Approval Process
The sale is subject to approval by the NBA Board of Governors, which is customary in franchise deals. With Chisholm’s experience and the record price, the approval process should proceed without significant hitches.
When it comes to sports franchise valuations, Bill Chisholm’s purchase of the Boston Celtics is historic. With deep appreciation for the Celtics’ history and commitment to its future, the new ownership strives to contribute to the Celtics’ rich heritage, navigating financial complexities to sustain competitive excellence in the NBA.
