Bill Chisholm may be leading the new ownership group commanding the Boston Celtics, but old friend Wyc Grousbeck says he isn’t going anywhere.
Grousbeck, who will now serve as team CEO, described the process of the Celtics sale to Chisholm and private equity group Sixth Street during an introductory press conference the Celtics hosted at the team’s training facility in Brighton Thursday.
“Life is full of challenges, this was a challenge to wrap my head around this. I worked with my family, I ended up with about half of what the family and I collectively put in, so that’s now in my name. So, I’m the significant owner in this team alongside Bill, and Aditya, and Sixth Street. I’m grateful for that. But, more than just ownership, it’s just love and commitment,” Grousbeck said, mentioning co-owner Aditya Mittal, who appeared on the leadership panel.
The extended Grousbeck family has divested themselves of their Celtics shares after originally buying the team in 2002. Chisholm, a Massachusetts native, led a group of investors to buy the team for a record-setting $6.1 billion, approved by the NBA in August.
Wyc mentioned that he and his wife, Emilia Fazzalari, intend to keep shares in their family indefinitely.
“And Emelia and I have agreed to – and we’re glad to be invited – to really stay in forever,” Grousbeck said. “And to keep shares in the team and get courtside seats and just be there with our kids. It’s just, starting off, it was a challenge to even figure out how to auction off the Celtics successfully and find the right group among the many qualified groups and great people, including old friends, who were bidding.”
Chisholm praised Grousbeck’s guidance many times during the meeting, and the two referred to the relationship between them as a partnership.
“It’s actually worked out, no fooling, it’s worked out authentically,” Grousbeck said.