Pending approval from the NBA, the Celtics’ new owner comes from the team’s own backyard, and has pledged to continue working with current team leadership.
William Chisholm Investor Group, led by Georgetown, Mass. native William Chisholm, has entered into a definitive sale agreement with Boston Basketball Partners LLC – the group headed by current majority owner Wyc Grousbeck. Grousbeck will stay on as CEO and Governor, overseeing team operations, through the 2027-28 NBA season, according a to a press release from both parties published through Business Wire.
“My partners and I have immense respect for Wyc, the entire Grousbeck family and their indelible contributions to the Celtics organization over the last 23 years,” Chisholm said in a statement. “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.”
The sale has to pass through the NBA Board of Governors, but has an initial valuation of $6.1 billion. The new ownership group also includes current Celtics owner Rob Hale and Bruce A. Beal, Jr., President of Related Companies, as well as Sixth Street, a global investment firm, “among others,” according to both parties.
Grousbeck was effusive in his praise of “Bill” as a “terrific person and a true Celtics fan.”
“His love for the team and the city of Boston, along with his chemistry with the rest of the Celtics leadership, make him a natural choice to be the next Governor and controlling owner of the team. I know he appreciates the importance of the Celtics and burns with a passion to win on the court while being totally committed to the community. Quite simply, he wants to be a great owner. He has asked me to run the team as CEO and Governor for the first three years, and stay on as his partner, and I am glad to do so,” Grousbeck said in a statement.
Chisholm is a Dartmouth College graduate who serves as Managing Partner and Chief Investment Office of private equity firm STG, which he co-founded. He also worked at Bain & Company and holds an MBA from the Wharton School.
“Growing up on the North Shore and attending college in New England, I have been a die-hard Celtics fan my entire life,” Chisholm said. “I understand how important the Celtics are to the city of Boston – the role the team plays in the community is different than any other city in the country. I also understand that there is a responsibility as a leader of the organization to the people of Boston, and I am up for this challenge.”