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The Boston Celtics, a cornerstone in the history of the NBA, have just witnessed a monumental shift in ownership. Bill Chisholm, a private-equity director from California, has agreed to purchase the beloved franchise for an astounding $6.1 billion. This transaction not only marks the highest price ever paid for a North American sports team but also sets a new benchmark in the world of professional sports.
For comparison, the previous record was held by the NFL’s Washington Commanders, which were sold for $6.05 billion earlier this year. The Celtics have been under the ownership of the Grousbeck family since 2002, when they purchased the team for a mere $360 million. This transformation in valuation showcases the soaring popularity and financial growth of the NBA.
Chisholm, who is also the managing partner of Symphony Technology Group, has a deep-seated connection with the Celtics, having grown up as a passionate fan in Georgetown, Massachusetts. His journey from a devoted supporter to the new owner of one of the most storied franchises in sports history is nothing short of remarkable. Sources close to Chisholm describe him as possessing an “encyclopedic knowledge” of the team, making him a fitting steward for the franchise's future.
Despite the excitement surrounding the sale, it is important to note that this change in ownership is still pending approval from the NBA Board of Governors. Meanwhile, current co-owner Wyc Grousbeck is expected to remain as the governor of the team, continuing to oversee operations until 2028. This move is aimed at ensuring a stable transition for both the organization and its players, who have expressed hopes for continuity.
All-Star forward Jayson Tatum voiced his optimism about the new ownership group, emphasizing the need for organizational stability and the preservation of the Celtics’ culture. He stated, "I trust [Grousbeck] and those guys in their decision and understanding the culture that we’ve set… We’ve worked really hard to build something special. I trust that they’ll make the right decisions in whoever that next group is." This sentiment is echoed across the team, as they prepare to navigate this significant change.
On the operational side, Chisholm faces some daunting challenges, including managing a record-breaking payroll and an immense luxury tax bill. The Celtics are projected to have a payroll exceeding $200 million in the coming seasons, exacerbated by the contracts of star players like Jayson Tatum and Jaylen Brown, each of whom is set to earn more than $50 million by the 2025-26 season.
Moreover, the Celtics' current financial structure is complicated by the fact that they do not own their home arena, TD Garden, which is owned by Delaware North. This limitation affects the team's revenue streams, presenting Chisholm with complex challenges as he takes on the new role.
In light of the evolving sports landscape, this monumental sale signifies not just a change in ownership but also a reflection of the growing business acumen surrounding professional sports franchises. As the Celtics prepare for their next chapter under Chisholm's leadership, fans around the world will be eagerly watching to see how this new era unfolds.
With historical success behind it – including 18 NBA championship titles, more than any other franchise – and a passionate fanbase, the Boston Celtics are poised for a future that could redefine their legacy further in the NBA arena.
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