Tim Bontempsmar 20, 2025, 10:04 am at
Closetim Bontemps is a senior NBA writer at ESPN.com and will affect the league and its, including league deadlines, expansions and MVP Straw Polls. You can find Tim along with Brian Windholst and Tim McMahon.
The group, led by Bill Chisholm, managing partner of Symphony Technology Group, has agreed to buy the Boston Celtics at a $6.1 billion valuation, sources told ESPN’s Shamscharania.
That price is above the $6.055 billion price by a group led by Josh Harris, who was paid to buy the NFL’s Washington Commander in 2023 as the most paid for a franchise in North American sports history.
The new ownership group also includes Boston business leaders Rob Hale and Bruce Beal Jr., who are currently the Celtics shareholders.
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The sales agreement was announced Thursday, but no terms have been made clear.
“This process of buying a team started just under 50 years ago when I spent my seventh birthday and joined the game at the old Boston Garden,” Chisholm told Charania. “I’ve been hooked ever since. I’ve been a crazy fan ever since. I’ve blown away the greenery. I love the Celtics. When this opportunity came out, I couldn’t pass it on. [Stevens] And Joe [Mazzulla] We’ve done an incredible job, but that’s all the good things we want to continue. ”
The Celtics, who surpassed their ever-rivals Los Angeles Lakers, were the 18th NBA title to beat the Dallas Mavericks in five games in the NBA Finals, and soon began the sales process. The world of basketball announces by announcing that it will sell control over the franchise after more than 20 years of stable ownership of one of North American sports’ most iconic franchises.
Grousbeck, whose family leads the ownership group that bought the team for $360 million in 2002, said Chisholm asked him to remain as CEO and governor for the next three seasons.
“From the start, we wanted to find the right person with the resources and commitment to getting the flag and being a great person,” Grousbeck told Charania. “Bill checks all the boxes for us. I’ve always been a consultant and have a final say here with the Celtics since the family was bought by the team. It’s going to last three years and we’ll move on.”
The deal requires Chisholm to sell in two parts, where, once approved by the NBA board, acquires at least 51% of the team. The current owner has the option to hold the remainder of the stock until 2028, based on a formula determined by the league’s revenue growth rate.
“My approach is to acquire and nurture the flag,” Chisholm told Charania. “It’s short-term and long-term. I had some sit-ins with Brad. That’s to adjust our goals and expand the window for this team. The plans WYC and Brad laid out make total sense to me.”
Pagliuca confirmed the sale Thursday in a statement posted on social media, pushing hard to buy Celtics from the Grouseck family, saying it was “sadly to know that we are not chosen in the process.”
Here is my statement about today’s news. pic.twitter.com/lhkcslecgf
– Steve Pagliuca (@pagsceltics) March 20, 2025
Sources told Charania that Grousveck and Pagliuca exchanged “warm” texts on Thursday.
During a conference call with reporters in November after Boston visited the White House to celebrate the title, Grousbeck reiterated his plans to continue to be in charge until 2028 after the sale.
Timing aside, what’s not a controversy is that for the first time in a generation, the Celtics are changing their hands. This will not only be repeated as champions alongside Chisholm, who has built his fortune in private equity, but will take over a team with big questions ahead of it this summer.
Boston will become the first team in NBA history, with Jason Tatum’s Super Max Extension officially offered online, with the final step of the current collective bargaining agreement being made online and banned from maintaining the team for the long term, making it the first team in NBA history, surpassing $500 million next season.
In the meantime, however, the Celtics are one of their favorites to win the title of the season. 2017-I hope to become the first team to be repeated as champions since the 2018 Golden State Warriors.
“With the new collective bargaining agreement, we have put all basketball issues at premium,” Grousbeck told Charania. “You have to be great and lucky to make your team successful. We have that to Brad. Brad is the executive of the year.”
The Celtics won the NBA Records 18 NBA title. This tracks only the New York Yankees (27) and the Montreal Canadiens (24) of all North American professional sports leagues.
Chisholm will join the game with his wife in April.
“It was emotional for me because we accomplished this,” Chisholm told Charania. “As a family, we listened to Johnny Most, the old voice of the Celtics, and described one of his calls. [Wednesday] night. It’s about dreams coming true. I had to pinch myself. This is the best sports franchise not only in basketball, but also in the US, as well as in the world. It is the most won team in the United States, and the quality of what’s here is unparalleled. I’m thinking about the possibilities and legacy here, and I personally feel like I’ve got a bargain.
“I’m a fan. That’s the most important thing. I’m bleeding greens. I’m taking on the challenge.”
Celtics sales could also affect the potential timeline of the NBA expansion. For months, sources say the process will not move forward until the situation in Boston has become clear and this selling price rises. With this kind of number, the league can revisit its timeline, sources said.
The Associated Press contributed to this report.
