NBA Approves $6.1bn Sale of Boston Celtics
The NBA has unanimously approved the $6.1 billion sale of the Boston Celtics to an investor group led by Symphony Technology Group co-founder Bill Chisholm. Chisholm, a Massachusetts native and lifelong Celtics fan, will become team governor, succeeding Wyc Grousbeck, who will remain CEO through 2027–28. The Celtics, NBA champions in 2024, hold a record 18 titles. This sale sets a new record for the highest price paid for a North American professional sports team, although it has since been surpassed by the $10 billion sale of the Los Angeles Lakers in June to billionaire Mark Walter. Chisholm's group is acquiring an initial 51% stake in the team, with the remaining shares, currently held by Wyc Grousbeck's group, to be fully bought out by 2028 at a valuation that could reach $7.3 billion.