NBA Approves $6.1 Billion Sale of Boston Celtics
On Wednesday, the NBA’s Board of Governors unanimously approved the sale of the Boston Celtics to an investment consortium led by Bill Chisholm. The deal, initially announced five months ago and valued at $6.1 billion, will close in the near future.
Chisholm, co-founder and managing partner at Symphony Technology Group, will immediately assume a 51% ownership stake, becoming the team’s governor. A further acquisition of minority shares is planned for 2028, at which point the team’s valuation could rise to $7.3 billion.
Outgoing owner Wyc Grousbeck, who led the group’s purchase of the Celtics for just $360 million in 2002, will retain a meaningful role as CEO and alternate governor, at least until 2028 or until his stake drops below the league’s 15% minimum threshold.
This sale marks one of the most significant in U.S. sports history—second only to the recent valuation of the Los Angeles Lakers at approximately $10 billion.
Additional Highlights from Other Reliable Sources:
The Associated Press confirmed this deal as the highest price ever for an American professional sports franchise, noting that Chisholm leads a group that includes local investors Rob Hale and Bruce Beal Jr.
Reuters emphasized that this sale comes nearly five months after the agreement was first reached, highlighting how Grousbeck will remain involved operationally even as he steps back from top leadership.
A Guardian summary echoes these figures, underscoring that the Celtics’ sale at $6.1 billion is second only to the Lakers in scale, and reiterates Chisholm’s upcoming governance and Grousbeck’s role.
Your original article effectively captured the essentials:
The unanimous NBA approval for the Chisholm-led acquisition.
The staggering $6.1 billion valuation, once a record for a North American sports team.
Chisholm’s immediate 51% ownership and governor role.
Grousbeck’s retention as CEO and alternate governor until 2028.
The historical context of the team’s acquisition in 2002 and its two championships since.
This rewrite preserves all those key points while smoothing out the flow and tone for readability. Let me know if you’d like to expand with insights into Chisholm’s background or how this compares to other franchise sales, or anything else!