Personal fairness mogul William Chisholm agreed to purchase the Boston Celtics in a deal that values the NBA’s reigning champions and the most-decorated franchise in league historical past at a minimal of $6.1 billion (AUD$9.6 billion) — the biggest value ever for American skilled sports activities crew.
If the deal is accepted by the NBA’s board of governors this summer time, the sale would high the value paid for the NFL’s Washington Commanders in 2023.
A Massachusetts native and graduate of Dartmouth School and Penn’s Wharton Faculty of enterprise, Chisholm is the managing associate of California-based Symphony Expertise Group. The brand new possession group additionally consists of Boston businessmen Rob Hale, who’s a present Celtics shareholder, and Bruce Beal Jr.
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“Rising up on the North Shore and attending faculty in New England, I’ve been a die-hard Celtics fan my whole life,” Chisholm mentioned in an announcement. “I perceive how vital the Celtics are to the town of Boston — the function the crew performs in the neighborhood is completely different than some other metropolis within the nation. I additionally perceive that there’s a accountability as a frontrunner of the organisation to the individuals of Boston, and I’m up for this problem.”
The Celtics are favorite to win this yr’s NBA title. Getty
Wyc Grousbeck, whose household leads the possession group that purchased the crew in 2002 for $360 million (AUD$571 million in as we speak’s change charge), mentioned Chisholm requested him to remain on as CEO and Governor for the subsequent three seasons, “and I’m glad to take action.”
“Invoice is a terrific individual and a real Celtics fan, born and raised right here within the Boston space,” Grousbeck mentioned.
“His love for the crew and the town of Boston, alongside together with his chemistry with the remainder of the Celtics management, make him a pure option to be the subsequent Governor and controlling proprietor of the crew.
“I do know he appreciates the significance of the Celtics and burns with a ardour to win on the courtroom whereas being completely dedicated to the neighborhood. Fairly merely, he needs to be a fantastic proprietor.”
The Boston Celtics are one of many league’s hottest groups. Getty
The report value for an NBA crew was the $4 billion (AUD$6.03 billion) mortgage agency proprietor Mat Ishbia paid for the Phoenix Suns in 2023.
“However the Celtics are one of many league’s flagship franchises, profitable their unprecedented 18th NBA title final June and among the many favourites to win once more this season with younger stars Jayson Tatum and Jaylen Brown — successors to a convention of championship-winning Corridor of Famers working from Bob Cousy to Invoice Russell to Larry Chook to Paul Pierce.
