The NBA Board of Governors unanimously approved the sale of the controlling interests in the Boston Celtics to the investment group led by Bill Chisholm, the league announced on Wednesday evening. The sale is expected to close shortly.
Chisholm first agreed in March to purchase the team from the Grousbeck family at a $6.1 billion valuation. The plan is set to take place in two phases, with Chisholm’s group purchasing 51% of the franchise now, and the remaining shares will be purchased from the team in 2028.
Originally, Wyc Grousbeck intended to serve as the Celtics’ lead governor through the 2027–28 season. However, that plan changed earlier this week after Grousbeck’s ownership stake dipped below the 15 percent required to remain lead Governor, as Sports Illustrated’s Chris Mannix explained on the Greg Hill Show.
“In order to be the Governor of the team, you have to own at least 15% of the team,” said Manniz. “While Wyc Grousbeck, to my understanding, is going to be taking some of the money from the sale and effectively buying back into the ownership group, he is not going to own 15% of the team. The only person – individual – with 15% ownership is going to be Bill Chisholm. This is purely a rules situation. The NBA has it in its bylaws that you can not be a team Governor unless you own 15% of the team.”
The Grousbeck family purchased the Celtics for $360 million in 2002, guiding the franchise to championships in 2008 and 2024. During their tenure, no team has played more postseason games than the Celtics, who made the playoffs 20 times in that span.
The Celtics’ new ownership group also features current minority owner Robert Hale, Related Companies president Bruce A. Beal Jr., private equity firm Sixth Street, and Indian steel CEO Aditya Mittal. Wyc Grousbeck will remain on board as the alternative Governor and remain as team CEO through 2027-28 when the sale is completed in full.
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