Nba Signs Off On Boston Celtics’ Record $6.1bn Sale To Bill Chisholm

A group headed by Bill Chisholm is group to return power of nan Boston Celtics aft nan NBA’s committee of governors unanimously approved nan waste connected Wednesday.

The NBA wrote successful a statement, “The transaction is expected to adjacent shortly.“

The reported $6.1bn valuation for nan nine makes it nan second-largest waste value for a US sports franchise, down nan $10bn valuation for nan Los Angeles Lakers erstwhile Mark Walter purchased that squad successful June.

Chisholm and his partners are buying astatine slightest 51% of nan Celtics. The ownership liking will summation successful 2028, according to nan acquisition contract, erstwhile Chisholm’s group is scheduled to bargain retired nan remaining number shareholders astatine a $7.3bn valuation.

According to aggregate media reports, Chisholm will return complete arsenic nan Celtics’ politician erstwhile nan waste goes through. Outgoing proprietor Wyc Grousbeck is expected to service arsenic alternate politician and stay nan CEO done 2028. Grousbeck will cede his domiciled erstwhile he nary longer has nan required ownership liking of astatine slightest 15%.

Chisholm, nan co-founder and managing partner of nan California-based backstage equity patient STG Partners, is simply a Massachusetts autochthonal and longtime Celtics fan.

Grousbeck and nan outgoing ownership group Boston Basketball Partners LLC purchased nan Celtics for $360m successful 2002. During that group’s tenure, nan nine won NBA titles successful 2007-08 and 2023-24 – nan second representing Boston’s league-record 18th championship.