A New Era in Boston: Celtics Sold in Historic Billion-Dollar Deal

Written by Jared Marder

It was officially announced on March 20, 2025, that the Boston Celtics were sold to Bill Chisholm for $6.1 billion.[i] This deal is set to become the largest sales of a sports franchise in North America, surpassing the $6.05 billion sale of the Washington Commanders in 2023.[ii]

Wyc Grousbeck has been the majority owner of the Celtics since purchasing the team in 2002 for $360 million.[iii] Part of the consideration for Grousbeck to sell the Celtics was that Chisholm is passionate about the team.[iv] Chisholm, a longtime figure in the Boston business scene, is the co-founder and managing partner of Symphony Technology Group, a private equity firm.[v] He outbid current co-owner Steve Pagliuca, who also claimed to have offered a record-setting price.[vi]

Chisholm is joined by Sixth Street, a private equity firm that is part of the new ownership group that will contribute more than $1 billion.[vii] The NBA appears to be leading the charge in allowing private equity firms to take stakes in teams, a move the NFL is now following.[viii] This marks a shift from the past, when many sports franchises were owned by individuals or families.[ix] With current valuations continuing to rise, it has become increasingly difficult for individuals or families to purchase a team on their own.[x]

Part of the reason why sport team valuations continue to rise is due in part to league media rights payments.[xi] The NBA has secured a long-term agreement with Walt Disney, NBCUniversal, and Amazon worth $7.6 billion, more than doubling the league’s previous media deal.[xii]

Another important note is that it took the Timberwolves sale three years to go through.[xiii] NBA owners are required to contribute 15% of the purchase price when they buy a team, which would require Chisholm to pay $915 million.[xiv] It has been reported that Chisholm has invested less money into the Celtics than Sixth Street, which committed $1 billion toward the purchase.[xv]

Having Sixth Street spend more than Chisholm is a significant issue, as it would violate NBA rules that mandate private equity firms hold a smaller stake than the primary owner, Chisholm.[xvi] For Chisholm to be compliant with NBA rules, he will have to contribute more money than Sixth Street’s stake.[xvii]

[i] https://www.cbsnews.com/boston/news/boston-celtics-sold-william-chisholm/

[ii] Id.

[iii] Id.

[iv] Id.

[v] Id.

[vi] Id.

[vii] https://www.cnbc.com/2025/03/20/boston-celtics-sold-for-6point1-billion-to-bill-chisholm-sixth-street-group.html

[viii] Id.

[ix] Id.

[x] Id.

[xi] Id.

[xii] Id.