A group led by American businessman William Chisholm has reached an agreement to purchase the iconic NBA team, the Boston Celtics, for a record-breaking $6.1 billion (£4.7 billion). This deal marks the highest price ever paid for a North American sports franchise, surpassing the previous record set by the $6 billion purchase of the NFL’s Washington Commanders in 2023, which was valued at £4.8 billion due to exchange rate fluctuations.
This new transaction also beats the $4 billion (£3.3 billion) sale of the Phoenix Suns in 2022. Forbes had ranked the Celtics as the fourth-most valuable NBA team in 2023, valued at $6 billion (£4.6 billion), following the Golden State Warriors at $8.8 billion (£6.7 billion).
Chisholm, a co-founder and managing partner of the California-based private equity firm Symphony Technology Group, hails from the Boston area and is a lifelong Celtics fan. He expressed his excitement and sense of responsibility, stating, “Growing up on the North Shore and attending college in New England, I have been a die-hard Celtics fan my entire life. 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.”
He continued, “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.”
Wyc Grousbeck and his partners currently own the Celtics, having purchased the team for $360 million (£277 million) in 2002. Grousbeck will continue in his role as CEO and governor of the team until the end of the 2027-28 season. Afterward, Chisholm will take control of the team’s operations.
The Celtics, who recently won their 18th NBA championship by defeating the Dallas Mavericks, are one of the most successful teams in NBA history. With this record-breaking sale, the team is poised to enter a new chapter under Chisholm’s leadership.
