Overview

• Bill Chisholm will immediately assume the Celtics’ lead governor title upon closing of the sale, a change from the initial plan for a phased transfer.
• Wyc Grousbeck will retain the team’s CEO position and serve as an alternate governor through the original transition period after the sale closes.
• The $6.1 billion transaction, set at a record valuation for the franchise, is expected to be approved by the NBA’s Board of Governors within days to a week.
• Chisholm’s investor group, which required at least a 15 percent stake for his governorship, secured financing commitments including a $1 billion investment from Aditya Mittal.
• The revised succession plan accelerates the end of the Grousbeck family’s 22-year governance era after they purchased the Celtics for $360 million in 2002.