The most successful team in NBA history has been sold at a record price to a private-equity director who grew up in Massachusetts.
As first reported by the Boston Globe, William Chisholm, the California-based managing director and co-founder of Symphony Technology Group, is the winning bidder. ESPN has since reported the sales price is $6.1 billion, which is a new North American record for any team. Chisholm’s purchase still needs to be approved by other league owners.
Outgoing Celtics co-owner Wyc Grousbeck is expected to remain governor as the team is transitioned to Chisholm, a Dartmouth graduate from Georgetown, Massachusetts, who claims to be a longtime fan of the team.
Grousbeck and his co-owners announced their intention to sell 51 percent the team in July, shortly after capturing the franchise’s 18th NBA title with a 4-1 Finals win over the Dallas Mavericks.
DailyMail.com has reached out to the Boston Celtics and NBA for confirmation. A league spokesman said he cannot confirm.
William Chisholm, the California-based managing director and co-founder of Symphony Technology Group, is the winning bidder. Chisolm is believed to have agreed to a $6.1b price
A general view of the 2024 NBA Champion Banner before a game between the Milwaukee Bucks and the Boston Celtics at the TD Garden on October 28
Celtics coach Joe Mazzulla nearly cracks a smile while standing between outgoing Celtics co-owner Wyc Grousbeck and his wife, Emilia Fazzalari on February 21
A co-founder, managing partner and chief investment officer at Symphony Technology Group (STG), Chisholm and his firm have around $10 billion in assets under management, according to Sportico.
Chisholm has also worked at Bain & Company and also co-founded The Valent Group.
The Celtics booked $493 million in revenue last season, thanks $102 million in playoff earnings.
Boston (50-19) is once again in the title hunt this season, although they trail the first-place Cleveland Cavaliers by six games for home-court advantage throughout the Eastern Conference playoffs.
Grousbeck had hoped to sell the team in two stages, beginning with a 51-percentstake now and the remaining 48 percent in 2028, at which point he will no longer serve as team governor.
He and his co-investors bought the Celtics for just $360 million in 2002. Since then the team has won two NBA titles and regularly ranks among the league leaders in attendance.
