The iconic Boston Celtics, a storied franchise in the National Basketball Association (NBA), are set to change hands in a monumental deal that will shatter records for North American sports team sales.
A consortium led by American businessman William Chisholm has agreed to acquire the Celtics for a staggering $6.1 billion (£4.70 billion), according to the BBC.
This landmark transaction surpasses the previous record of $6.05 billion, set by the purchase of the NFL’s Washington Commanders in 2023, which at the time equated to £4.8 billion.
The sale also dwarfs the $4 billion (£3.3 billion) paid for another NBA team, the Phoenix Suns, in 2022, underscoring the escalating value of premier sports franchises.
The Celtics, currently owned by the Grousbeck family and partner Steve Pagliuca, were ranked as the fourth-most valuable NBA team by Forbes last year, with an estimated worth of $6 billion (£4.62 billion).
The Golden State Warriors held the top spot at an estimated $8.8 billion (£6.7 billion).
William Chisholm, co-founder and managing partner of the California-based private equity firm Symphony Technology Group, brings a personal connection to the team.
A native of the Boston area and a graduate of a New England college, Chisholm is a lifelong Celtics fan. He expressed his deep understanding of the team’s significance to the city, particularly following their record-breaking 18th NBA championship victory last year against the Dallas Mavericks.
“Growing up on the North Shore and attending college in New England, I have been a die-hard Celtics fan my entire life,” Chisholm stated. “I understand how important the Celtics are to the city of Boston – the role the team plays in the community is different than any other city in the country. I also understand that there is a responsibility as a leader of the organisation to the people of Boston, and I am up for this challenge.”
The current ownership group, led by Wyc Grousbeck, purchased the Celtics for $360 million (£277 million) in 2002.
While the team will transition to new ownership, Grousbeck is expected to remain in his role as chief executive and governor until the end of the 2027-2028 season, ensuring a period of continuity before Chisholm assumes control of team operations.
