The NBA’s Boston Celtics are being sold to the head of a California private equity firm for US$6.1 billion, a record price for a US sports franchise, the club’s owners confirmed on Thursday.
Boston Basketball Partners LLC in a statement said that it had agreed to sell the iconic team to William Chisholm, managing director and co-founder of Symphony Technology Group.
“If approved, the new ownership group will buy a majority of the team this summer at an initial valuation of US$6.1 billion,” the statement said, confirming the purchase price reported by US media.
Photo: AP
That is the highest ever offered for a North American sports team, surpassing the US$6.05 billion paid for the NFL’s Washington Commanders in 2023.
The sale of the Celtics, the current NBA champions, still requires the approval of the NBA Board of Governors.
The team is one of the most storied in the league’s history, with a record 18 championships.
Chisholm, a Massachusetts native, in a statement said he has been “die-hard fan 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 said.
“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,” he said.
The new ownership group also includes current Celtics co-owner Robert Hale, Bruce Beal Jr, president of Related Companies, and Sixth Street, a global investment firm.
The Grousbeck family and Steve Pagliuca purchased the Celtics for US$360 million in 2002.
Wyc Grousbeck would continue in his roles of chief executive officer and governor, overseeing team operations, through the 2027 to 2028 season.
The Boston Globe reported that three other buyers had been under consideration: Celtics co-owner Pagliuca, Stan Middleman, a co-owner of MLB’s Philadelphia Phillies, and The Friedkin Group.
Pagliuca released a statement after news of the pending sale broke saying he “worked tirelessly to put together a strong bid” and was “saddened” that his offer to buy the team was not selected.
Three NBA teams were sold in 2023: the Phoenix Suns for US$4 billion, the Milwaukee Bucks for US$3.5 billion and the Dallas Mavericks for US$3.5 billion.
If the Wild finally break through and win their first playoff series in a decade, Minnesota’s top line likely will be the reason. They were all over the Golden Knights through the first two games of their NHL Western Conference quarter-finals series, which was 1-1 going back to Minnesota for Game 3 today. The Wild tied the series with a 5-2 win on Tuesday. Matt Boldy had three goals and an assist in the first two games, while Kirill Kaprizov produced two goals and three assists. Joel Eriksson Ek, who centers the line, has yet to get on the scoresheet. “I think the biggest
From a commemorative jersey to a stadium in his name, Argentine soccer organizers are planning a slew of tributes to their late “Captain” Pope Francis, eulogized as the ultimate team player. Tributes to the Argentine pontiff, a lifelong lover of the game, who died on Monday at the age of 88, have been peppered with soccer metaphors in his homeland. “Francisco. What a player,” the Argentine Football Federation (AFA) said, describing the first pope from Latin America and the southern hemisphere as a generational talent who “never hogged the ball” and who showed the world “the importance of having an Argentine captain,
Noelvi Marte on Sunday had seven RBIs and hit his first career grand slam with a drive off infielder Jorge Mateo, while Austin Wynn had a career-high six RBIs as the Cincinnati Reds scored their most runs in 26 years in a 24-2 rout of the Baltimore Orioles. Marte finished with five hits, including his eighth-inning homer off Mateo. Wynn hit a three-run homer in the ninth off catcher Gary Sanchez. Cincinnati scored its most runs since a 24-12 win against the Colorado Rockies on May 19, 1999, and finished with 25 hits. Baltimore allowed its most runs since a 30-3 loss to
Arne Slot has denied that Darwin Nunez was dropped from Liverpool’s win against West Ham because of a training-ground row with a member of his coaching staff. The Liverpool head coach on Sunday last week said that Nunez was absent from the 2-1 victory at Anfield, having felt unwell during training the day before, although the striker sat behind the substitutes throughout the game. Speculation has been rife that the Uruguay international, whom Slot criticized for his work rate against Wolves and Aston Villa in February, was left out for disciplinary reasons. Asked on Friday to clarify the situation, Slot said: “He