Celtics reach agreement on record sale price to group led by private equity executive William Chisholm

The defending NBA champion Boston Celtics volition soon beryllium nether caller ownership. The franchise's existent ownership radical agreed to merchantability the nine to William Chisholm for a grounds $6.1 billion, agencies representing some sides progressive successful the merchantability confirmed to The Associated Press.

ESPN and Sportico were among those archetypal reporting the statement for the sale.

Chisholm is the managing spouse of Symphony Technology Group, a backstage equity steadfast based successful California. The $6.1 cardinal fig represents the highest acquisition terms for a sports squad successful North American history. An concern radical led by Josh Harris antecedently acceptable the people successful 2023 erstwhile it bought the NFL's Washington Commanders from Daniel Snyder for $6.05 billion.

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The Boston Celtics' logo astatine the TD Banknorth Garden earlier a crippled against the Philadelphia 76ers Nov. 28, 2008, successful Boston. (Brian Babineau/NBAE via Getty Images)

Chisholm grew up successful Massachusetts and has been a Celtics instrumentality for years, The Boston Globe reported. Current Celtics co-owner Robert Hale is portion of the incoming ownership group, according to The Globe. Bruce Beal Jr., president of Related Companies, is besides 1 of the investors successful the caller group.

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Shortly aft the Celtics defeated the Dallas Mavericks successful past year's NBA Finals, the Grousbeck family's Boston Basketball Partners LLC revealed its volition to merchantability the franchise. The household cited property and family-planning purposes. The household has controlled the storied franchise since 2002, erstwhile the radical closed connected a $360 cardinal sale.

A towel with the Boston Celtics logo connected a seat earlier a playoff crippled astatine TD Garden successful Boston.  (Adam Glanzman/Getty Images)

Wyc Grousbeck is expected to proceed representing the franchise connected the NBA Board of Governors done the 2027-28 season. Boston Basketball Partners LLC intends to merchantability the equilibrium of its shares successful 2028.

The TD Garden earlier Game 1 of the 2nd circular of the NBA Playoffs betwixt the Philadelphia 76ers and the Boston Celtics May 1, 2023, astatine the TD Garden successful Boston.  (David Dow/NBAE via Getty Images)

"My partners and I person immense respect for Wyc, the full Grousbeck household and their indelible contributions to the Celtics enactment implicit the past 23 years," Chisholm said successful a merchandise announcing the agreement. "We look guardant to learning from Wyc and partnering with Brad Stevens, Joe Mazzulla and the talented squad and unit to physique upon their occurrence arsenic we enactment to bring much championships location to Boston."

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Several NBA franchises changed hands successful 2023. 

The Phoenix Suns were purchased by owe steadfast proprietor Mat Ishbia for $4 billion. The Milwaukee Bucks were sold to Cleveland Browns owners Jimmy and Dee Haslam for $3.5 billion. And Mark Cuban agreed to the merchantability of the bulk of his Dallas Mavericks ownership shares to Miriam Adelson and son-in-law Patrick Dumont, who operates the Las Vegas Sands casino company, for $3.5 billion.

The Associated Press contributed to this report.

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