The Boston Celtics are the reigning NBA champions, and with a 50-29 record, are in a strong position to defend their title. They’ve won three games in a row and eight of their last nine, and are picking up form as the postseason draws nearer.
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That news is secondary today, after it was reported by ESPN’s Shams Charania that the team is finally being sold for $6.1 billion, the highest price in North American sports history, to a group led by lifelong Celtics fan and private equity executive Bill Chisholm.
The Celtics have been owned by the Wyc Grousbeck-led Boston Basketball Group since 2002, and in that time have reclaimed much of their past glory by winning two NBA titles and reaching the Finals two other times. Steve Pagliuca, a minority owner of the team, made a strong push to buy, but was beaten out in the end by Chisholm and his group.
Celtics fans have been understandably antsy since Grousbeck announced his intentions to sell the team last year, especially given their team’s status as one of the most stable and well-run organizations in professional sports. So who exactly is William Chisholm, and what can Celtics fans expect his leadership to look like?
Chisholm grew up in Georgetown, Massachusetts, which is about a 40-minute drive from Boston. He grew up a Celtics fan and graduated from Dartmouth and then the Wharton School with an MBA with Distinction. He’s a co-founder of The Valent Group, a venture capital and risk consulting firm, and Symphony Technology Group, a private equity firm focused on software, data, and analytics.
The $6.1 billion sale price for the Celtics just beat out the $6.05 billion price that Washington Commanders owner Josh Harris and his group paid for the team in 2023. It’s also a tidy profit for Grousbeck and his associates, who bought the team for $360 million back in 2002.
What challenges will Chisholm face as the new Celtics owner?
The Celtics are set up for success, but they’re not exactly a turnkey operation. They’re one of only three teams that are currently over the second apron, thanks in large part to massive contracts for stars Jayson Tatum and Jaylen Brown. Because of this, they’re looking at a luxury tax bill that could exceed $200 million next year.
The Celtics play their home games at TD Garden Arena, and though their lease runs through 2036, there have been rumors that a brand-new arena could be built in the coming years. It’s unknown at this time how Chisholm taking over could affect that.
Recent sales of NBA teams haven’t been kind to longtime fans. Look no further than the way new Phoenix Suns owner Mat Ishbia has mismanaged the team, or the way the Mavericks have completely alienated their fanbase after Mark Cuban sold by trading away Luka Doncic.
Grousbeck will stay on as the team’s governor through the 2027-28 season, which should hopefully ease the transition and allow Chisholm to avoid “New Owner Syndrome.” The term was coined by longtime Celtics fan and former Boston Sports Guy Bill Simmons to refer to new owners who feel the need to shake things up with big splashy moves which inevitably don’t work out.
Hopefully this deal goes through without a hitch, unlike the legal battle the Minnesota Timberwolves are currently caught up in between current owner Glen Taylor and prospective owners Alex Rodriguez and Marc Lore.
