The Boston Celtics have been sold to William Chisholm, managing director and co-founder of Symphony Technology Group, for a record-breaking $6.1 billion, according to league sources. The sale, which surpasses the $6.05 billion paid for the NFL’s Washington Commanders, is pending approval by the NBA Board of Governors.
A Historic Sale
This transaction marks the highest amount ever paid for a North American sports franchise. The Celtics ownership group, led by Wyc Grousbeck, announced last June—just weeks after the team secured its record 18th NBA championship—that the franchise was being put up for sale due to estate and family planning considerations. The Grousbeck family originally purchased the team in 2002 for $360 million.
Chisholm’s Local Ties and Ownership Group
Chisholm, a Dartmouth graduate and Georgetown, Mass., native, has been a lifelong Celtics fan. Despite Symphony Technology Group being based in California, Chisholm owns a home on Nantucket and reportedly plans to purchase a residence in Boston.
The new ownership group includes several notable figures from Boston’s business community, including current Celtics co-owner Robert Hale, Bruce Beal Jr. (president of Related Companies), and global investment firm Sixth Street.
Competitive Bidding Process
For months, Celtics co-owner Steve Pagliuca was the only person to publicly express interest in bidding for the team. However, in the final stages, a group of contenders emerged, including Chisholm, Pagliuca, Philadelphia Phillies co-owner Stan Middleman, and The Friedkin Group.
NBA Players’ Reaction
While the sale process unfolded, Celtics players largely remained detached from the negotiations. However, All-Star forward Jayson Tatum emphasized the importance of maintaining the franchise’s stability and culture.
“I trust [Grousbeck] and those guys in their decision. We’ve worked hard to build something special, and I trust they’ll make the right decisions in choosing the next ownership group,” Tatum said.
Financial Challenges Ahead
Chisholm inherits a franchise with a record payroll and looming financial challenges. The Celtics do not own TD Garden, which is controlled by Delaware North, the company run by longtime Bruins owner Jeremy Jacobs. Additionally, player salaries and luxury-tax implications pose a significant financial burden:
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- Jayson Tatum signed a record-breaking five-year, $315 million contract last summer.
- Jaylen Brown is in the second year of his five-year, $304 million deal.
- Derrick White recently secured a four-year, $126 million contract.
By the 2025-26 season, Tatum and Brown will each earn over $50 million, with the Celtics projected to pay over $200 million in luxury tax. Their payroll and tax obligations are expected to be the highest in NBA history.
What’s Next?
Pending league approval, Chisholm will take the reins of one of the NBA’s most storied franchises. With a championship-caliber roster in place, his challenge will be navigating the financial landscape while sustaining the team’s success on the court.
Source: BostonGlobe – Celtics sold to William Chisholm, California private-equity director, for $6.1 billion
