The NBA Governor’s Committee has unanimously approved the sale of the Boston Celtics to a group led by William Chisholm, with the deal expected to finalize by the weekend. Chisholm will succeed WYC Grousbeck as governor, shifting from Grousbeck’s initial plan to stay through the 2027-28 season.
In March, Chisholm’s group agreed to purchase the Celtics in two stages, valuing the team at $6.1 billion in the initial payment—this was the highest price ever paid for control of a sports team at the time, though it has since been surpassed by Mark Walter’s $10 billion acquisition of the Los Angeles Lakers.
Recently, it was reported that Tom Dundon’s group is close to buying the Portland Trail Blazers for $4.25 billion, and if approved, this would mark the 14th NBA ownership change since 2013.
Chisholm, a Massachusetts native who attended Dartmouth University along with his two children, is the co-founder, managing partner, and chief investment officer of STG Partner, a Menlo Park-based private equity firm managing around $12 billion in assets as of March.
Aditya Mittal will become the Celtics’ second-largest owner and could replace Grousbeck as the alternate governor starting in the 2027-28 season. Mittal, son of billionaire Lakshmi Mittal, is the executive chairman of ArcelorMittal, the world’s second-largest steel and mining company. Lakshmi Mittal, who founded Mittal Steel in the late 1980s, merged it with France’s Arcelor in 2006 and holds a net worth of $26 billion.
Private equity firm Six Street, which holds a stake in the San Antonio Spurs, was part of Chisholm’s initial group and will be the third-largest shareholder after Mittal. NBA rules cap the ownership stake any company can hold at 20%.
The investment group also includes former Celtics investor Rob Hale, who increased his stake in this deal, and Bruce A. Beale Jr., the affiliate’s president.
The Grousbeck family purchased the Celtics in 2002 for $360 million. They put the team up for sale last July, shortly after winning an NBA-record 18th championship, citing real estate plans as a key reason.
The 2024-25 season ended on a tough note for the Celtics when All-NBA star Jayson Tatum tore his Achilles tendon during the Eastern Conference semifinals against the Knicks, leading to Boston’s loss in the series. Reports from ESPN’s Bobby Marks highlight that the team traded notable players Christaps Porzingis and Jrue Holiday during their 2024 title run.
Goldman Sachs acted as financial advisor to the Chisholm group, while BDT & MSD and JPMorgan Chase handled the sales process. Jordan Park also served as an advisor.
Fan Take: This ownership change signals a new era for the Celtics, with fresh leadership that could bring innovative strategies and investments to one of the NBA’s most storied franchises. For basketball fans, this could mean more competitive seasons ahead and exciting developments both on and off the court.
