Bill Chisholm, co-founder and managing partner of California-based private equity firm STG Partners, has secured NBA approval to acquire a controlling stake in the Boston Celtics in a transaction valuing the franchise at $6.1bn, according to a report by Reuters.
Chisholm’s investor group will acquire at least 51% of the team from Boston Basketball Partners LLC, the consortium led by Wyc Grousbeck, who bought the Celtics in 2002 for $360m. Under the terms of the deal terms, Chisholm’s stake will rise to 100% in 2028 via the purchase of remaining minority interests at a $7.3bn valuation.
The sale ranks as the second-largest valuation for a US sports franchise, behind only the $10bn paid for the Los Angeles Lakers earlier this year.
According to multiple media reports, Chisholm will take over as the Celtics’ governor when the sale goes through with Grousbeck remaining as CEO and alternate governor until the 2028 buyout is completed.
During Grousbeck’s tenure, the Celtics secured two NBA championships, including their record 18th title in the 2023–24 season.
