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The Boston Celtics, the reigning NBA champions, are set to change hands in a stunning $6.1 billion deal, marking the highest sale price ever recorded for a North American professional sports franchise. The transaction, led by private equity co-founder William Chisholm, was announced Thursday and is expected to reshape the ownership landscape of one of basketball’s most storied teams.

The deal surpasses the previous record of $6.05 billion, set in 2023 when Apollo Global Management’s Josh Harris purchased the NFL’s Washington Commanders. The Celtics also break the NBA’s former record sale price of $4.1 billion, set by Mat Ishbia’s purchase of the Phoenix Suns in 2022.

Ownership Transition and Key Players

Chisholm, the managing partner of Symphony Technology Group LLC and a Massachusetts native, will helm an ownership group that includes:

• Outgoing majority owner Wyc Grousbeck
• Minority owner and Granite Telecommunications co-founder Rob Hale
• Related Cos. President Bruce A. Beal Jr.
• Private equity firm Sixth Street Partners

Despite relinquishing majority ownership, Grousbeck will remain the team’s CEO and represent the Celtics on the NBA Board of Governors through the 2027-28 season at Chisholm’s request.

The deal was orchestrated by high-profile legal teams, with Wachtell Lipton Rosen & Katz representing the investor group and Cooley LLP advising the Celtics and the Grousbeck family.

A Sale Rooted in Championship Glory

The decision to sell the franchise came just weeks after the Celtics secured their 18th NBA title in June 2024, making them the most decorated team in league history. On July 1, Grousbeck officially put the team on the market, signaling the end of an era for an ownership group that purchased the Celtics for just $360 million in 2002.

Chisholm’s Boston Roots and Business Acumen

A Georgetown, Massachusetts native, Chisholm attended Dartmouth College for his undergraduate degree and later earned an MBA from Wharton. He co-founded Symphony Technology Group in 2002, following a successful tenure at risk management firm Valent Group.

Grousbeck, the outgoing majority owner, praised Chisholm’s deep ties to Boston and his passion for the Celtics.

Private Equity’s Growing Influence in Pro Sports

The sale underscores the growing presence of private equity in professional sports. San Francisco-based Sixth Street Partners, now a limited partner in two NBA teams, previously invested in the San Antonio Spurs in 2021. The firm was also among four private equity groups approved by the NFL in 2023 to acquire limited partnerships in football franchises.

This week, Sixth Street announced a new investment in MLB’s San Francisco Giants, further expanding its sports portfolio. When asked about its Celtics stake, Sixth Street declined to comment.

Finalizing the Deal

The NBA’s Board of Governors must approve the sale before it is finalized, a standard step in franchise acquisitions. The league has yet to issue a public statement regarding the sale.

Legal Teams Behind the Transaction

• The investor group is represented by Wachtell Lipton Rosen & Katz, led by corporate partners Edward D. Herlihy and Eric M. Feinstein, with contributions from litigation partner David B. Anders, antitrust partner Damian G. Didden, executive compensation partner Jeannemarie O'Brien, finance partner Gregory E. Pessin, and tax partner T. Eiko Stange.
• Cooley LLP advised the Celtics and the Grousbeck family, with a team led by corporate partners Matthew Hemington, Steve Tonsfeldt, and David Silverman, along with special counsel Gaël Hagan, antitrust partner Megan Browdie, tax partner Todd Gluth, and senior counsel Mark Windfeld-Hansen.

The Celtics to be sold marks the latest blockbuster deal in professional sports, setting a new benchmark for franchise valuations and reinforcing Boston’s place at the center of sports business history.