Boston Celtics hang 2024 NBA Championship Banner in TD Garden.
Danielle Parhizkaran | Boston Universal | Getty Images
The team’s ownership announced Thursday that a group led by private equity executive Bill Chisholm is buying the NBA’s Boston Celtics at a $6.1 billion valuation.
A person familiar with the matter said that private equity firm Sixth Street, part of the new ownership group, will contribute more than $1 billion. Other members of the ownership group are Boston-area businessmen Rob Hale and Bruce Beal Jr., presidents of real estate-related companies.
“I’ve been a hard-working Celtic all my life,” Chisholm said on Thursday at the Middle School. Press release. “I understand the importance of the Celtics to the City of Boston – the role that the team plays in the community is different from any other city in the country. I also know that as an organization leader, I have worked hard for this challenge.”
The current ownership organization of the Celtics, Boston Basketball Partner, is led by the Grussbeck family. Wyc Grousbeck, the team’s CEO and Governor, will be in these roles in the 2027-2028 season. If approved, the sale will take place this summer.
“Bill is an amazing person, a true Celtic fan born and raised in the Boston area,” Grusbeck said in a statement. “His love for the team and the city of Boston, and his chemistry with other Celtic leaders made him naturally the next governor and owner of the team.”
The NBA declined to comment.
It is not clear that Chisholm, the co-founder of the company Symphony Technology Group, will pay for it as part of the transaction.
The $6.1 billion sale price is the highest price for a team in U.S. sports history, surpassing the $6.05 billion deal for the NFL Washington Commander in 2023.
CNBC Sports Official NBA team valuation The list released in February estimates the Celtics’ franchise is worth $5.5 billion. The most important team is the Golden State Warriors’ $9.4 billion.
As the valuation of sports franchise soared, selling the Celtics to large ownership groups makes it harder for individuals or families to buy teams themselves. Last year the NFL follows the NBA and other major leagues Allow private equity firms to bet On the team.
The Celtics won 18 titles, the most in NBA history. The team has the second best record in the NBA Eastern Conference this season and is considered a strong contender for the second consecutive championship.
– Michael Ozanian and Leslie Picker of CNBC contributed to the story.
