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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.