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Boston Celtics Sold for Record $6.1 Billion to Private Equity-Backed Group

The sale marks the end of the Grousbeck family's ownership and raises concerns about the impact of private equity on team success and fan costs.

Jayson Tatum #0 of the Boston Celtics shows his jersey to fans before their game against the Denver Nuggets at TD Garden on March 2, 2025 in Boston, Massachusetts.
Boston Celtics Head Coach Joe Mazzulla yells while lifting the Larry O’Brien Championship Trophy after Boston's 106-88 win against the Dallas Mavericks in Game 5 of the 2024 NBA Finals.
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Overview

  • The Boston Celtics were sold for $6.1 billion, the highest price ever paid for a North American sports franchise.
  • Bill Chisholm, a lifelong Celtics fan and managing partner of Symphony Technology Group, leads the new ownership group with $1 billion in funding from private equity firm Sixth Street.
  • Outgoing minority owner Steve Pagliuca warned that private equity involvement could prioritize profits over competitive success and fan accessibility.
  • The Celtics generated $493 million in revenue during the 2023-2024 season, with ticket sales being the largest source of income, and fans worry about potential price increases under the new ownership.
  • The sale reflects a broader trend of private equity investment in professional sports, raising questions about its long-term impact on the industry.