A group led by Bill Chisholm, the managing partner at Symphony Technology Group, has reached an agreement to purchase the Boston Celtics at a valuation of $6.1 billion. This transaction would set a new record as the highest price ever paid for a franchise in North American sports history, surpassing the $6.05 billion purchase of the Washington Commanders by a group led by Josh Harris in 2023. Additionally, it would far exceed the previous record for an NBA team, which was set when Mat Ishbia acquired the Phoenix Suns for $4 billion in 2022.
Here’s my statement on today’s news. pic.twitter.com/lhKCslEcgF
— Steve Pagliuca (@pagsceltics) March 20, 2025
The Celtics, who secured their 18th NBA championship last June by defeating the Dallas Mavericks in five games, initiated the sale process soon after their victory. The controlling ownership group, Boston Basketball Partners, L.L.C., led by Wyc Grousbeck and Steve Pagliuca since 2002, surprised many by announcing its intention to sell the majority stake in the franchise. Their tenure had provided more than two decades of stable leadership for one of the most historic teams in professional sports.
Initially purchased for $360 million in 2002, the team’s ownership transition marks a significant financial milestone. Pagliuca confirmed the sale in a statement, acknowledging that he had actively attempted to acquire the Celtics himself but was ultimately not chosen.
As part of the sale agreement, Grousbeck will continue in his role as CEO and governor of the franchise through the 2027-28 season, which aligns with the original plan when the sale was first announced. The new ownership group, led by Chisholm, includes notable Boston-based business figures and philanthropists, including Rob Hale, who is already a Celtics co-owner, and Bruce A. Beal, Jr.
In a previous media call last November, following the Celtics’ visit to the White House in celebration of their championship, Grousbeck reaffirmed his commitment to remain in his position until 2028, regardless of the sale’s progress.
While the Celtics are currently considered strong contenders for another championship this season, significant financial challenges lie ahead. The team is projected to become the first in NBA history to exceed $500 million in combined payroll and luxury tax payments next season. This financial burden arises as Jayson Tatum’s supermax contract extension takes effect, coinciding with key provisions of the new collective bargaining agreement that will make it increasingly difficult to sustain a high-cost roster over the long term.
Despite these concerns, Boston remains a leading favorite to secure another title, with hopes of becoming the first team since the 2017-18 Golden State Warriors to win back-to-back championships.
With 18 NBA championships, the Celtics hold the most titles in league history, trailing only the New York Yankees (27) and Montreal Canadiens (24) among North America’s major professional sports teams.
Beyond the implications for the franchise itself, the Celtics’ sale could also influence the NBA’s plans for expansion. Reports indicate that league officials had been waiting for clarity on Boston’s ownership transition before advancing discussions on adding new teams. Now that the sale price has been established at this record level, the league may revisit its expansion timeline.