William “Bill” Chisholm, managing partner at California’s Symphony Technology Group, a private equity firm, has agreed to purchase the Boston Celtics for a record-breaking $6.1 billion, a league source confirmed to multiple outlets. The deal is pending approval from the NBA Board of Governors.

Chisholm makes sports history with billion-dollar deal

According to the Boston Globe, Chisholm is a native of Georgetown, Massachusetts, and a graduate of Dartmouth College. His acquisition of the team marks the largest deal in U.S. sports history, surpassing the $6.05 billion Josh Harris paid for the NFL’s Washington Commanders in 2023.

Chisholm, a lifelong Celtics fan, expressed his commitment to being the organization’s leader and expressed how important the franchise is to the Boston community.

“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 in a news release. “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.”

‘Quite simply, he wants to be a great owner’

The Celtics’ ownership group, Boston Basketball Partners, LLC, led by co-owners Wyc Grousbeck and Steve Pagliuca, announced the sale Thursday morning. Following the team’s 18th championship win in June, they began the sale process after initially purchasing the franchise for $360 million in 2002, according to ESPN and a new release.

Despite the sale, key positions will remain occupied by members of the ownership group and other executives. Grousbeck will continue in his roles of CEO and governor, overseeing team operations, through the 2027-2028 NBA season. Celtics current minority owner Rob Hale and Bruce A. Beal, Jr., president of Related Companies, as well as global investment firm Sixth Street will also be part of the group.

“I know [Chisholm] appreciates the importance of the Celtics and burns with a passion to win on the court while being totally committed to the community, Grousbeck said, per the news release. “Quite simply, he wants to be a great owner.”

Celtics’ co-owner also bid to purchase the team

Pagliuca was among several bidders for the team. In a statement released on social media Thursday morning, he confirmed the sale and expressed disappointment that his bid was not successful.

“We made a fully guaranteed and financed offer at a record price, befitting the best sports fans in the world, and with all the capital coming from individuals who are fully committed to winning on and off the court,” Pagliuca stated. “We have felt it was the best offer for the Celtics. It is a bid of true fans, deeply connected to Boston’s community, and we’ve been saddened to find out that we have not been selected in the process.”

According to The Athletic, Chisholm may face financial challenges despite acquiring a successful franchise. The team could surpass the luxury tax for a fourth consecutive season in 2025-26 if payroll stays at around the same level, with the potential for payroll and taxes all together to exceed $400 million due to rising repeater tax rates under the current collective bargaining agreement.

Celtics superstar and power forward Jayson Tatum shared his thoughts on the team’s new ownership.

“We’ve got some great people in this organization and on this team and we’ve worked really hard to build something special. I trust that they’ll make the right decisions in whoever that next group is,” Tatum said last week, per The Boston Globe.

Blavity reported that Tatum secured the title of highest-paid player in NBA history with a groundbreaking 5-year, $314 million extension with the Celtics. The deal runs through the 2029-2030 season.

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