The NBA on Wednesday officially approved the sale of the Boston Celtics to an investment group led by Bill Chisholm, five months after the record-setting $6.1 billion agreement was first announced.
“The NBA Board of Governors has unanimously approved the sale of the controlling interests in the Boston Celtics to an investor group led by Bill Chisholm,” the league confirmed in a statement, adding that the deal is expected to close soon.
Chisholm, a Massachusetts native and self-described “die-hard Celtics fan,” is the managing director and co-founder of Symphony Technology Group.
When his group agreed to purchase the franchise earlier this year, the $6.1 billion valuation marked the highest ever for a North American sports team — a record later surpassed in June by the $10 billion sale of the Los Angeles Lakers to billionaire Mark Walter.
At the time of the sale’s announcement, it was stated that Wyc Grousbeck would remain CEO and governor of the team through the 2027–28 season.
However, reports this week indicate that Chisholm will assume the governor role since Grousbeck will no longer meet the NBA’s 15% minimum ownership threshold required for the position.
Despite the change, ESPN reported that Chisholm and Grousbeck still intend to manage the team together as originally planned.
The Grousbeck family and Steve Pagliuca purchased the Celtics in 2002 for $360 million. Under their stewardship, the team has added to its storied history, winning its record 18th NBA championship in 2024.