NBA approves sale of the Boston Celtics for a record $6.1 billion

The NBA approved the sale of the storied Boston Celtics franchise for a record $6.1 billion to a group led by private equity mogul Bill Chisholm.

The figure represents the highest price paid in U.S. professional sports history for a team. The previous record for a sports franchise in the country was held by the Washington Commanders of the NFL, acquired for $6.05 billion in 2023.

In the NBA, the previous record was held by the Phoenix Suns, a franchise purchased in 2023 for $4 billion by billionaire mortgage lender Mat Ishbia.

The news comes weeks after ESPN and The Athletic reported that the Boston Celtics’ archrivals, the Los Angeles Lakers, will be sold by the Buss family to financier Mark Walter, owner of the Dodgers, for a historic $10 billion. While that deal has not yet been finalized, all indications are that the transaction is moving forward.

Shams Charania, the NBA insider for The Athletic and Stadium, first reported the news on June 18, stating that the Buss family will retain a minority stake in the team for a time, just over 15%. He also noted that Jeanie Buss will remain the Lakers’ governor for several years, continuing to lead the franchise during this transition period.

According to the NBA, the transaction between the investment group and the Celtics' current owners will close very soon. Once the deal is completed, Bill Chisholm will become the majority shareholder, with at least 51% of the franchise, and expects to assume full control in 2028, in a transaction that could raise the overall valuation to $7.3 billion.

Originally from Massachusetts and educated at Dartmouth College and the Wharton School of the University of Pennsylvania, Bill Chisholm heads the California firm Symphony Technology Group. His consortium, which will now go on to lead the ownership of the Boston Celtics, also has the participation of local businessmen Rob Hale—current shareholder of the team—and Bruce Beal Jr., reported the Associated Press.

The deal marks the end of an extended era headed by Wyc Grousbeck, who acquired the Celtics in 2002 for just $360 million. Under his leadership, the franchise won championships in 2008 and 2024, bringing the total number of titles to 18, the most in NBA history.

The bidding for the franchise attracted at least two other interested groups. Among them was the one led by Steve Pagliuca, a former minority partner of the Celtics, who, after losing the buyout dispute, announced his intention to acquire the WNBA's Connecticut Suns for $325 million and move them to Boston, a proposal that so far does not have the endorsement of the women's league.