NBA Approves Record Celtics Sale

UPDATE Aug 13, 2025 5:31 PM CDT

The NBA on Wednesday unanimously approved the sale of the Boston Celtics to a group led by private equity mogul Bill Chisholm, a deal that values the franchise at more than $6.1 billion—the most ever for a US professional sports team. The league said the transaction will close soon, the AP reports. Chisholm then will take ownership of at least 51% of the team, with full control coming by 2028 at a price that could bring the total value to $7.3 billion.

Mar 20, 2025 4:07 PM CDT

The team that's won a record number of NBA titles has been sold for a record price. Owners of the Boston Celtics announced on Thursday that the team has been sold at a valuation of $6.1 billion, the Athletic reports. The buyer is a group led by Bill Chisholm, a private equity executive who grew up in the Boston area. He said in a statement that he understands the importance of the Celtics to the city and the people of Boston, per CNBC, "and I am up for this challenge."

It's the most ever paid for a North American sports franchise, topping the $6.05 billion the Washington Commanders of the NFL brought in 2023. The NBA record was $4 billion, set when the Phoenix Suns sold in 2023. Wyc Grousbeck, the team's CEO and governor, agreed to stay on through the 2027-28 season. Chisholm suggested team President Brad Stevens and coach Joe Mazzulla will remain in their jobs. The deal, which requires the approval of the NBA's Board of Governors to go through, probably will take a few months to close, per the Athletic.

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Boston Basketball Partners, a group led by the Grousbeck family, put the team on the market in July, just after the Celtics won their 18th NBA title by defeating the Dallas Mavericks, per the AP. With the value of sports franchises soaring, the team is the ninth NBA team with a controlling ownership sale since 2019. Individuals and families are being priced out, so the NFL joined the NBA and other leagues last fall in letting private equity groups buy into teams. The Celtics' new owner faces financial issues immediately: Keeping the championship roster in place could cost more than $400 million, plus luxury taxes. Mitigating that would require major player moves, per the Athletic.