Jaylen Brown of the Boston Celtics dunks during the game against the Indiana Pacers.
Brian Babineau/NBAE/Getty Images
New YorkCNN —
The Boston Celtics, one of the most successful NBA teams in history, has sold for $6.1 billion, marking the largest sale of a sports franchise in North America.
An investor group led by William Chisholm, a billionaire who amassed much of his wealth from private equity, is buying the Celtics. The group also includes includes Rob Hale, a current Celtics investor, and Bruce Beal Jr., president of real estate giant Related Companies.
“Bill is a terrific person and a true Celtics fan, born and raised here in the Boston area,” Celtics CEO Wyc Grousbeck said in a statement Thursday. “His love for the team and the city of Boston, along with his chemistry with the rest of the Celtics leadership, make him a natural choice to be the next Governor and controlling owner of the team.”
The Grousbeck family bought the Celtics, who have won 18 championships in their history, in 2002 for $360 million, representing a nearly 1,600% gain in value. Wyc will remain the team’s governor through the 2027-28 season.
Chisholm co-founded and is the managing partner of Symphony Technology Group, a California-based private equity firm that invests in tech.
“Growing up on the North Shore and attending college in New England, I have been a die-hard Celtics fan my entire life,” Chisholm said in a release. “I understand how important the Celtics are to the city of Boston – the role the team plays in the community is different than any other city in the country.”
The Celtics deal is the largest in the NBA and is a US major league sports record, bypassing the $6.05 billion deal for NFL team Washington Commanders in 2023 and the $4 billion purchase of NBA team Phoenix Suns in 2023.
New Boston Celtics owners could already face harsh financial penalties soon: Why?
The Celtics are going to be in breach of the NBA’s luxury tax rules as things stand
Boston Celtics’ Jaylen Brown, Jrue Holiday, Derrick White and Jayson TatumLAPRESSE
The brand new Boston Celtics owners could already find themselves in trouble with the NBA as they prepare to defend the team from financial penalties for breaching the luxury tax line as the defending champions continue to splash the cash.
The side in second place in the Eastern Conference are currently approaching the $500m mark for their roster, which includes stars such as Jayson Tatum, Jaylen Brown and Jrue Holiday, who have all been signed to expensive and long-term deals.
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Combined, they’re dropping some $225m per year on their roster and they will be soon committed to spending money on the salary of a first-round pick and two players at the end of their minimum salaries.
Thus their payroll will reach a mind-boggling $233m per season, which is $45m over the NBA’s luxury tax line and could land the TD Garden-based franchise in deep water with the commissioner, Adam Silver.
From the 2025/26 NBA season, harsher penalties will be introduced for teams overspending and especially for those looking to take advantage of the rules, with the aim of creating a fairer competitive environment across the franchises.
So that’s already a problem for Celtics’ new owner, William Chisholm, to contend with. However, the managing director of Symphony Technology Group is worth over $6.1 billion so he could be able to afford it.
But it won’t be cheap. The defending NBA champions will pay an extra $280m under the luxury tax rules, meaning they will be spending over half a billion on their roster that season. It’s an expensive, but potentially necessary, sacrifice if they want to keep their dynasty together.
How could the Celtics respond
Chisholm will also have Robert Hale and Bruce Beal Jr. to help offset those costs but it’s likely they will elect to trade their personnel away to bring down the salary figure to be closer to the tax line.
However, they are not permitted to trade away first-round picks in 2032 and 2033 to help other teams take the bait by picking up a mammoth contract to help the Eastern Conference side out with costs.
