The Boston Celtics can be offered for $6.1 billion, the very best worth ever paid for a North American professional sports activities franchise.
Invoice Chisholm, a non-public fairness investor who runs Symphony Expertise Group, leads the group that submitted the profitable bid, which was chosen Thursday.
The Celtics’ present house owners, led by Wyc Grousbeck and his household, introduced shortly after the Celtics received the NBA title final summer season that they have been placing the group up on the market. Grousbeck bought the group for $360 million in 2002.
“We look forward to learning from Wyc and partnering with Brad Stevens, Joe Mazzulla and the talented team and staff to build upon their success as we work to bring more championships home to Boston,” Chisholm mentioned in a press release.
The sale to Chisholm won’t happen instantly. Grousbeck will retain management of the group by the 2027-28 season. The NBA’s different 29 house owners can even need to approve Chisholm as an proprietor.
Final 12 months, Forbes estimated the Celtics’ worth at $6 billion, virtually precisely the sale worth. The earlier file worth for an NBA group was $4 billion, which mortgage agency proprietor Mat Ishbia paid for the Phoenix Suns in 2023.
Confetti falls after the Boston Celtics’ win over the Dallas Mavericks in Recreation 5 of the 2024 NBA Finals at TD Backyard on June 17, 2024 in Boston, Massachusetts. (Photograph by Adam Glanzman/Getty Photos)
The $6.1 billion paid for the Celtics can be barely greater than the $6.05 billion the NFL’s Washington Commanders offered for final 12 months. That buy was led by Josh Harris, an funding banker who additionally owns the NBA’s Philadelphia 76ers and the NHL’s New Jersey Devils.
Due to their nationwide following, storied previous and rabid fan base, the Celtics are thought-about one of many NBA’s most precious franchises. The group received its 18th championship final 12 months, greater than some other NBA group, and is among the favorites to win this season’s title.
