The Boston Celtics will be sold for $6.1 billion, the highest price ever paid for a North American pro sports franchise.
Bill Chisholm, a private equity investor who runs Symphony Technology Group, leads the group that submitted the winning bid, which was selected Thursday.
The Celtics’ current owners, led by Wyc Grousbeck and his family, announced shortly after the Celtics won the NBA title last summer that they were putting the team up for sale. Grousbeck purchased the team for $360 million in 2002.
“We look forward to learning from Wyc and partnering with Brad Stevens, Joe Mazzulla and the talented team and staff to build upon their success as we work to bring more championships home to Boston,” Chisholm said in a statement.
The sale to Chisholm will not occur immediately. Grousbeck will retain control of the team through the 2027-28 season. The NBA’s other 29 owners will also have to approve Chisholm as an owner.
Last year, Forbes estimated the Celtics’ value at $6 billion, almost exactly the sale price. The previous record price for an NBA team was $4 billion, which mortgage firm owner Mat Ishbia paid for the Phoenix Suns in 2023.
The $6.1 billion paid for the Celtics is also slightly more than the $6.05 billion the NFL’s Washington Commanders sold for last year. That purchase was led by Josh Harris, an investment banker who also owns the NBA’s Philadelphia 76ers and the NHL’s New Jersey Devils.
Because of their national following, storied past and rabid fan base, the Celtics are considered one of the NBA’s most valuable franchises. The team won its 18th championship last year, more than any other NBA team, and is one of the favorites to win this season’s title.