Private equity Mogul William Chisholm agreed to buy the Boston Celtics on Thursday in a deal that appreciates the incumbent master of the NBA and the most decorated franchise in the history of the league with at least $ 6.1 billion in the USA.
If the deal is approved by the NBA governor councilor this summer, the sale would exceed the 6.05 billion US dollars for the Washington commanders of the NFL in 2023.
Chisholm, born Massachusetts and graduate of Dartmouth College and Penn’s Wharton School of Business, is the managing partner of the Symphony Technology Group based in California. The new owner group also includes Boston businessmen Rob Hale, the current Celtics shareholder and Bruce Beal Jr.
Wyc Grousbeck, whose family headed the owner group that the team bought in 2002 for 360 million US dollars, said Chisholm asked him to stay as a CEO and governor in the next three seasons “, and I am glad to do this.”
“Bill is a great person and a true Celtics fan who was born and grew up here in the Boston area,” said Grousbeck. “His love for the team and the city of Boston, together with his chemistry with the rest of the Celtics leadership, makes him a natural decision to be the next governor and controlling owner of the team. I know that he has won the importance of Celtics and burned with passion to get involved in the community.
The agreement requires a two -part sale in which Chisholm would acquire at least 51 percent of the team after approval by the Governor Council of the NBA, which could come this summer. The current owners would have the opportunity to maintain the rest of their shares by 2028 if they were sold at a price that could be up to 20 percent higher, based on a formula based on the growth of sales of the league.
Pagliuca “sad” to fail in his offer
The team would rate that for 7.3 billion US dollars. Chisholm outperforms at least two other groups; One was led by Steve Pagliuca Steve Pagliuca in Celtic’s minority, who said that he had a record, a fully guaranteed offer with deep resources and no debts to ensure that we can always compete for championships, luxury taxes are damn “.
“It is an offer of real fans who are deeply connected to Boston’s community, and we were sad to find out that we were not selected,” he said in an explanation. “I will never stop being a Celtic, and if the announced transaction is not completed, my partners and I are ready to search again and bring home to continue what the Celtics can do.”
The record price for an NBA team was the 4 billion dollar mortgage company Mat Ishbia, who paid the Phoenix Suns in 2023. However, the Celtics are one of the flagship franchise franchise companies in the league in the last June their unprecedented 18th NBA title. Russell to Larry Bird for Paul Pierce.
Shortly after defeating the Dallas Mavericks for the NBA title last summer, Grousbeck announced that the team was offered for sale.
“My partners and I have immense respect for WYC, the entire Grousbeck family and their indelible contributions to the Celtics organization in the past 23 years,” said Chisholm. “We look forward to learning from WYC and working together with Brad Stevens, Joe Mazzulla and the talented team and employees to build on their success while we are working to bring more championships to Boston.”
