The sale of the Boston Celtics to William Chisholm is expected to finalize either later this week or early next week, according to three insiders who cannot speak publicly on the matter.
This deal needs approval from the league’s board of directors, which consists of the 30 team owners. The voting can be done remotely, so no in-person league meetings are necessary.
Back in March, Chisholm’s group agreed to buy the Celtics in two phases. Initially, the team was valued at $6.1 billion, marking the highest price ever paid for control of a sports team at that time. This surpassed the previous record set by Josh Harris for the Washington Commanders in 2023, and also exceeded Matt Ishvier’s $4 billion purchase of the Phoenix Suns in 2022, which was the NBA record. In June, Mark Walter’s purchase of the Los Angeles Lakers was valued at $100 billion.
BDT & MSD Partners, along with JPMorgan Chase, led the sale process for the Celtics, but both the NBA and these financial entities declined to comment on the exact timing.
The Grousbeck family originally purchased the Celtics in 2002 for $360 million. They announced the team was for sale in July of last year, shortly after winning their historic 18th NBA Championship. The family’s decision to sell is reportedly tied to their real estate business plans.
William Chisholm, co-founder and managing partner of private equity firm STG Partners, is a lead investor and will take over as the NBA governor of the Celtics from Wyc Grousbeck starting in the 2027-28 season.
Aditya Mittal, son of steel magnate Lakshmi Mittal and executive chairman of ArcelorMittal (the world’s second-largest steel and mining company), will become the Celtics’ second-largest stakeholder and will serve as an alternate governor in the future.
Additionally, private equity firm Sixth Street has made a significant investment in the team. Sixth Street already holds a stake in the San Antonio Spurs. NBA rules limit private equity firms to owning no more than 20% of a team.
Fan Take: This major ownership change highlights the growing intersection of private equity and professional sports, signaling bigger financial moves in the NBA’s future. For basketball fans, it marks a new chapter for the Celtics, potentially bringing fresh investments and innovative management that could impact the team’s competitiveness and the league’s business landscape.
