Boston Celtics Poised for Record-Breaking $6.1 Billion Sale
In what could be the largest transaction in North American sports history, the Boston Celtics are reportedly set to be sold for $6.1 billion to bill Chisholm, a managing partner at Symphony Technology Group and lifelong Celtics fan with ties to the Boston area.
chisholm to Acquire Celtics from Grousbeck-Led Ownership
Chisholm has reached an agreement to purchase the NBA franchise from Wyc Grousbeck, whose family currently leads the ownership group. The deal, if finalized, would surpass the $6.05 billion sale of the NFL’s Washington Commanders in 2023.
NBA Approval and Future Leadership
The sale is contingent upon approval by the NBA’s board of governors, a process that includes thorough vetting. The deal is unlikely to be completed before the summer. Grousbeck’s group originally acquired the Celtics in 2002 for $360 million and is expected to remain the team’s governor through the 2027-28 season.
Statements from Chisholm and Grousbeck
“My partners and I have immense respect for Wyc, the entire Grousbeck family and their indelible contributions to the Celtics organisation over the last 23 years,” Chisholm saeid in a statement announcing the agreement. “We look forward to learning from Wyc and partnering with Brad Stevens, Joe Mazzulla and the talented team and staff to build upon their success as we work to bring more championships home to Boston.”
Grousbeck stated that Chisholm’s local roots and passion for the team make him a perfect fit. “Bill is a terrific person and a true Celtics fan, born and raised here in the Boston area,” said Grousbeck. “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.”
Grousbeck to Remain CEO During Transition
Grousbeck will continue to run the team as CEO and Governor for the first three years, remaining as a partner during the transition. Chisholm emphasized his understanding of the Celtics’ importance to Boston. “I understand how crucial the Celtics are to the city of Boston – the role the team plays in the community is diffrent than any other city in the country,” Chisholm stated. “I also understand that there is a obligation as a leader of the organisation to the people of Boston, and I am up for this challenge.”
What are the key responsibilities and roles of Brad Stevens and Joe Mazzulla in the context of the Celtics’ ownership transition?
Boston Celtics Poised for Record-Breaking $6.1 Billion Sale
In what could be the largest transaction in North American sports history, the Boston Celtics are reportedly set to be sold for $6.1 billion to bill Chisholm, a managing partner at Symphony Technology group and lifelong Celtics fan with ties to the Boston area.
chisholm to Acquire Celtics from Grousbeck-Led Ownership
Chisholm has reached an agreement to purchase the NBA franchise from Wyc Grousbeck, whose family currently leads the ownership group. The deal, if finalized, would surpass the $6.05 billion sale of the NFLS Washington Commanders in 2023.
NBA Approval and Future Leadership
The sale is contingent upon approval by the NBA’s board of governors, a process that includes thorough vetting. The deal is unlikely to be completed before the summer.Grousbeck’s group originally acquired the Celtics in 2002 for $360 million and is expected to remain the team’s governor through the 2027-28 season.
Statements from Chisholm and Grousbeck
“My partners and I have immense respect for Wyc, the entire Grousbeck family and their indelible contributions to the Celtics organisation over the last 23 years,” chisholm saeid in a statement announcing the agreement. “We look forward to learning from Wyc and partnering with Brad Stevens, Joe Mazzulla and the talented team and staff to build upon their success as we work to bring more championships home to Boston.”
Grousbeck stated that Chisholm’s local roots and passion for the team make him a perfect fit. “Bill is a terrific person and a true Celtics fan, born and raised here in the Boston area,” said Grousbeck. “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.”
Grousbeck to Remain CEO During Transition
Grousbeck will continue to run the team as CEO and Governor for the first three years, remaining as a partner during the transition. Chisholm emphasized his understanding of the Celtics’ importance to Boston. “I understand how crucial the Celtics are to the city of Boston - the role the team plays in the community is diffrent than any other city in the country,” Chisholm stated. “I also understand that there is a obligation as a leader of the organisation to the people of Boston, and I am up for this challenge.”
Celtics Sale: Q&A
Q: Why is this sale so important?
A: At $6.1 billion, this potential sale would be the most expensive in North American sports history, surpassing the Washington Commanders sale.
Q: Who is Bill Chisholm?
A: Chisholm is a managing partner at Symphony Technology Group, a lifelong Celtics fan, and has deep ties to the Boston area. This local connection is key to Grousbeck’s support.
Q: What happens to the current management?
A: Wyc Grousbeck will remain as CEO and Governor for the first three years of the transition, ensuring continuity.
Q: What are the next steps?
A: The sale requires approval from the NBA’s Board of Governors, a process that includes a thorough review. It’s expected to be finalized sometime after the summer.
Q: What does this mean for the Celtics’ future?
A: Chisholm has expressed a commitment to building on the team’s success, working with current leadership (Brad Stevens, Joe Mazzulla) to bring more championships to Boston.
Q: How much did the Grousbeck group originally pay for the Celtics?
A: The Grousbeck group acquired the Celtics in 2002 for $360 million, highlighting the incredible financial growth of the franchise.
Q: Who is Brad Stevens and Joe Mazzulla?
A: Brad Stevens is the President of Basketball Operations for the Celtics, overseeing player personnel and strategy; Joe Mazzulla is the head coach. This means the team’s on-court leadership will remain largely unchanged.
Q: Will the Celtics’ legacy in Boston be maintained?
A: Chisholm has stressed his understanding of the Celtics’ deep connection to Boston and the team’s crucial role in the community, assuring fans of his commitment. The history and dedication to the city will continue.
Stay tuned for more updates as this record-breaking sale progresses and see how these changes will affect your favorite team!
