After more than two decades that included two NBA championships, the Boston Celtics will have a new owner.
Bill Chisholm, the managing partner of Symphony Technology Group, will buy the franchise at a $6.1 billion valuation, Boston’s current ownership group announced Thursday.
The sale price is the highest for a North American sports franchise, topping the $6.05 billion paid for the NFL’s Washington Commanders by a group led by Josh Harris and far surpassing the $4 billion valuation of the Phoenix Suns when Mat Ishbia bought the team in 2023 — the previous high for an NBA team.
The price could also set a new base line for NBA team sales as the league weighs whether to expand and could push prices up for those potential new franchises.
The deal still needs approval from the NBA’s Board of Governors. It will take a few months to close, according to a person involved in the agreement.
“Bill is a terrific person and a true Celtics fan, born and raised here in the Boston area,” Wyc Grousbeck, the Celtics’ current governor and CEO, said in a statement. “His love for the team and the city of Boston along with his chemistry with the rest of the Celtics leadership make him a natural choice to be the next governor and controlling owner of the team.”
Chisholm, who said he has been “a die-hard Celtics fan my entire life,” grew up on Boston’s North Shore and attended Dartmouth College in New Hampshire. He specifically named the team president, Brad Stevens, and coach Joe Mazzulla as partners he looks forward to working with.
Sixth Street, a private equity firm, is also buying a portion of the team and will put in more than $1 billion, according to a person familiar with the terms. The firm bought into the San Antonio Spurs in 2021 and is now one of three firms with investments in multiple NBA franchises.
Grousbeck will remain in his roles through the 2027-28 NBA season, he confirmed in the statement, and will continue to oversee team operations.
Stephen Pagliuca, a current Celtics minority owner, and Stan Middleman, a minority owner of the Philadelphia Phillies, were among the other bidders for the Celtics. Stevens met with the final four sales candidates in the final month preceding the sale, according to league sources.
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