The Boston Celtics are set to be sold for an unprecedented initial valuation of $6.1 billion to a consortium led by William Chisholm, managing partner of Symphony Technology Group, as announced on Thursday. This transaction could redefine the landscape of professional sports ownership in the United States.
If the sale receives the green light from the NBA’s board of governors following a comprehensive review, it would mark the most expensive sale in the history of U.S. major professional sports. This approval process is expected to extend into the summer, at the earliest.
The $6.1 billion valuation sets a new benchmark, surpassing the previous record of $6.05 billion, established when Josh Harris’s group acquired the NFL’s Washington Commanders in 2023. This initial figure may not be the final number, suggesting that the Celtics’ worth could rise even higher.
Boston Basketball Partners LLC revealed its intentions to sell the majority stake in the Celtics either late last year or early this year, with plans to sell the remaining shares by 2028. Wyc Grousbeck, the current governor and head of the ownership group, is anticipated to maintain his role through the 2027-28 season.
In 2002, Grousbeck’s group purchased the Celtics for $360 million, a figure that now pales in comparison to the current valuation.
The $6.1 billion sale price would significantly exceed recent NBA franchise transactions. For instance, in 2023, Mat Ishbia acquired the Phoenix Suns for $4 billion, while the Milwaukee Bucks changed hands for $3.5 billion, purchased by Jimmy and Dee Haslam, owners of the Cleveland Browns. Additionally, Mark Cuban agreed to sell a majority stake in the Dallas Mavericks to Miriam Adelson and her son-in-law Patrick Dumont for $3.5 billion.
Grousbeck expressed confidence in Chisholm, stating, “Bill is a terrific person and a true Celtics fan, born and raised here in the Boston area. His love for the team and the city of Boston, along with his chemistry with the rest of the Celtics leadership, make him a natural choice to be the next governor and controlling owner of the team.”
Chisholm has requested Grousbeck to continue running the team as CEO and governor for the initial three years, ensuring a smooth transition and continued stability for the franchise.
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