Boston Celtics sold for $6.1 billion, record for North American sports franchise

• The reigning NBA champion Boston Celtics have been sold for a record $6.1 billion. The price is a record for a North American sports franchise.
• Bill Chisholm, managing partner of Symphony Technology Group, a private equity firm, will lead the new ownership group.
• The Celtics were put up for sale in June 2024, 10 days after they won their record 18th NBA championship.

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One of the most iconic sports franchises in the world is changing hands. The reigning NBA champion Boston Celtics have been sold for $6.1 billion, a record for a North American sports franchise.

The Celtics’ new ownership group is led by Bill Chisholm, managing partner at Symphony Technology Group, a private equity firm.

The deal surpasses the $6.05 billion sale of the NFL’s Washington Commanders in 2023. The team’s current ownership group, Boston Basketball Partners, bought the franchise in 2002 for $360 million. The new sale is 17 times that initial investment.

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When did the Celtics go up for sale?

Boston Basketball Partners, led by co-owners Wyc Grousbeck and Steve Pagliuca, announced the sale in June 2024, just 10 days after the team won its record 18th NBA championship.

After a visit to the White House in November 2024, Grousbeck told reporters he intended to remain governor of the team as a condition of the sale until 2028.

“The plan is that I will stay for three more years. That’s what’s laid out. We’ll go from there,” Grousbeck said. “Having said that, I think I’d just rather talk about this team that we have in front of us or with us right now, has the capacity to contend again. I think we’re contenders this year and we can be contenders in the future, and that’s what I’m most excited about.”

How does the sale compare to other franchises?

Sport franchise values have skyrocketed in recent years.

The Celtics sale beat the price Josh Harris paid for the Commanders by $50 million.

The last NBA franchise sold was the Phoenix Suns, along with the WNBA’s Mercury, to Mat Ishbia for $4 billion. Steve Cohen bought the top baseball team, the New York Mets, in 2020 for $2.4 billion.

Here is the list of the top seven franchise sale valuations:

• 1:  Boston Celtics (2025) — $6.1 billion.
• 2:   Washington Commanders (2023) — $6.05 billion.
• 3:   Denver Broncos (2022) — $4.65 billion.
• 4:   Phoenix Suns/Mercury (2023) — $4 billion.
• 5:   Dallas Mavericks 2023) — $3.5 billion.
• 6:   Charlotte Hornets (2023) — $3 billion.
• 7:   New York Mets (2020) — $2.4 billion.

What is the new owner saying about the sale?

In a joint statement announcing the sale, the team’s new owner Bill Chisholm wrote, “Growing up on the North Shore and attending college in New England, I have been a die-hard Celtics fan my entire life.”

“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,” Chisholm continued. “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, 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. 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.”

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When will the sale become official?

The deal Chisholm’s group put together will take a few months to close and still needs approval from the NBA’s board of governors. The Celtics are one of the favorites to win the title again this season. They could become the first back-to-back winners since the Golden State Warriors in 2018.

This sale also removes a roadblock for the NBA to expand. Las Vegas and Seattle have been considered front-runners for new franchises and this record sale gives the league a guideline when charging expansion fees to those potential new owners.