In a landmark transaction, the Boston Celtics have been sold to Bill Chisholm, co-founder and managing partner of Symphony Technology Group, for a record-breaking $6.1 billion. This sale sets a new high for North American sports franchises, surpassing the $6.05 billion paid for the NFL's Washington Commanders in 2023.
🏀A Lifelong Celtics Fan at the Helm
Chisholm, a native of Georgetown, Massachusetts, and a Dartmouth College graduate, has been a lifelong Celtics fan. Expressing his deep connection to the team and the city, he stated, "Growing up on the North Shore and attending college in New England, I have been a die-hard Celtics fan my entire life." He acknowledges the unique role the Celtics play in Boston's community and embraces the responsibility that comes with leading the organization.
⛹🏾Transition of Ownership
The Celtics were previously owned by Boston Basketball Partners LLC, led by Wyc Grousbeck, who acquired the team in 2002 for $360 million. Under their stewardship, the Celtics secured two NBA championships, including their 18th title in 2024. Grousbeck will continue as CEO and Governor, overseeing team operations through the 2027-2028 NBA season, ensuring a smooth transition.
🏀NBA Franchise Valuations on the Rise
The sale of the Celtics highlights the escalating valuations of NBA franchises. Recent transactions include the Phoenix Suns sold for $4 billion in 2023 and the Milwaukee Bucks for $3.5 billion. The Celtics' strong roster, featuring stars like Jaylen Brown, Jayson Tatum, and Kristaps Porziņģis, positions them as contenders for future titles. Additionally, the NBA's financial health is bolstered by a new $76 billion broadcasting deal with ESPN, NBC, and Amazon, reflecting the league's lucrative prospects.
⛹🏾Awaiting NBA Approval
The sale is pending approval from the NBA's Board of Governors, a standard procedure in franchise transactions. Once finalized, this acquisition will mark a significant moment in sports franchise history, reflecting the growing value and global appeal of NBA teams.
This historic sale not only underscores the Celtics' esteemed legacy but also highlights the robust financial landscape of professional basketball.
