The Boston Celtics have been sold for $6.1 billion to a Massachusetts native and co-founder of a California-based private equity firm, according to reports. Here’s what we know.
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The Boston Celtics have found a buyer.
An investor group led by William Chisholm, a Massachusetts native and lifelong C's fan, has agreed to purchase a majority of the team at a $6.1-billion valuation -- a record for a North American sports team.
“Bill is a terrific person and a true Celtics fan, born and raised here in the Boston area,” Celtics governor Wyc Grousbeck said in a statement. “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. I know he appreciates the importance of the Celtics and burns with a passion to win on the court while being totally committed to the community. Quite simply, he wants to be a great owner. He has asked me to run the team as CEO and Governor for the first three years, and stay on as his partner, and I am glad to do so.”
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Chisholm is the managing director and co-founder of private equity firm Symphony Technology Group.
“Growing up on the North Shore and attending college in New England, I have been a die-hard Celtics fan my entire life,” Chisholm said in a statement. “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 organization to the people of Boston, and I am up for this challenge.
“My partners and I have immense respect for Wyc, the entire Grousbeck family and their indelible contributions to the Celtics organization over the last 23 years. 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.”
The Grousbeck family announced last July that it intended "to sell a majority interest in 2024 or early 2025." The Grousbecks have owned the team since 2002 and the franchise has won two championships during that span.
The Celtics, who won their league record 18th championship last season, are in second place in the Eastern Conference standings with a 50-19 record as of Thursday.
This is a breaking news story. This article will be updated when more information is available.
