The group led by Bill Chisholm will control Boston Celtics The NBA board of directors unanimously approved the deal on Wednesday.
this NBA “The deal is expected to be completed soon,” it said in a statement.
The club’s $6.1 billion valuation reportedly makes it the second largest selling price for a sports franchise in the U.S., with the Los Angeles Lakers behind Mark Walter at $10 billion Purchased the team in June.
Chisholm and his partners bought at least 51% of the Celtics. Under the purchase contract, ownership will increase in 2028 when Chisholm’s group plans to value at a valuation of $7.3 billion at a valuation of $7.3 billion to buy the remaining minority shareholders.
According to multiple media reports, Chisholm will take over as Celtic governor when the deal is sold. Outgoing owner Wyc Grousbeck is expected to serve as replacement governor and serve as CEO in 2028. Grousbeck will tie his role when he no longer owns at least 15% of his ownership stake.
Chisholm, co-founder and managing partner of STG Partners, a California-based private equity firm, is a local Celtics fan in Massachusetts.
Grousbeck and the outgoing Boston basketball Partners LLC bought the Celtics for $360 million in 2002. During his tenure in the group, the club won the NBA championship in 2007-08 and 2023-24 – the latter representing Boston’s 18th league title.
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