Particle.news
Download on the App Store
40 ARTICLES
·
4w ago

Chisholm to Become Celtics Governor as NBA Board Approves $6.1 Billion Sale

Following a drop below the league’s 15 percent threshold, Grousbeck will serve as CEO with alternate governor status through 2028

Apr 4, 2025; Boston, Massachusetts, USA; Bill Chisholm, center, who leads a group that is buying the Boston Celtics, stands with current owner Wyc Grousbeck and Chisholm’s wife, Kimberly Chisholm before the game between the Boston Celtics and the Phoenix Suns at TD Garden. Mandatory Credit: Winslow Townson-Imagn Images/File Photo
Image
Image
Mar 2, 2025; Boston, Massachusetts, USA; Boston Celtics majority owner Wyc Grousbeck cheers on the Celtics during the during the second half against the Denver Nuggets at TD Garden. Mandatory Credit: Paul Rutherford-Imagn Images

Overview

  • NBA Board of Governors unanimously approved the sale of a controlling interest in the Boston Celtics to an investor group led by Bill Chisholm, with the transaction expected to close shortly
  • Bill Chisholm will assume the lead governor title immediately upon closing after Wyc Grousbeck’s ownership stake fell below the 15 percent minimum requirement
  • Grousbeck transitions to CEO and alternate governor roles through 2028 under the deal’s two-stage purchase structure
  • The initial closing values the team at $6.1 billion for at least a 51 percent stake, with remaining shares set to transfer in 2028 at a higher valuation
  • Key co-investors in Chisholm’s group include Aditya Mittal, private equity firm Sixth Street, Rob Hale and Bruce A. Beal Jr.