$6.1B sale of Boston Celtics finalized, with new ownership group taking control of franchise

BOSTON — The sale of the Boston Celtics has been finalized.

An investor group led by private equity mogul William Chisholm took control of the NBA’s most-decorated franchise from a group led by Wyc Grousbeck that had owned the team since 2002.

The NBA approved the sale last week, and more than $6.1 billion changed hands on Tuesday, a record price paid for an American professional sports team.

“This truly is a dream come true for me and my family,” Chisholm, who was born and raised near Boston and has been a lifelong fan of the team, said in a statement. “I feel so fortunate to be here as part of this new investor group, who are accomplished, driven people who care deeply about the Celtics and the Boston community.”

Chisholm takes ownership of at least 51% of the team, with full control coming by 2028, the Associated Press reported.

Chisolm will serve as governor of the franchise, while Grousbeck and Aditya Mittal will serve as alternate governors. Grousbeck will also be a co-owner and CEO, running day-to-day operations.

“I am thrilled to partner with Wyc, Brad Stevens, and Rich Gotham to move this outstanding organization forward. We are committed to building on the legacy of the Celtics and raising banners, and I can’t wait for the team to get back out there this fall,” Chisolm added.

Chisholm’s investor group includes Grousbeck, Mittal, Bruce Beal, Andrew Bialecki, Dom Ferrante, Rob Hale, Mario Ho, and Ian Loring. Global investment firm Sixth Street is also a major participant in the investment group.

“The Celtics have been my life’s work for the past 23 years. This incredible ride is now continuing,” Grousbeck said in a statement. “I am fired up to be shoulder to shoulder with Bill as we pull every lever to go after another banner. There is nothing better than winning.”

Founded in 1946, the Celtics have 18 NBA Championships and over 40 Hall of Famers.

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