Celtics make sports history with multi-billion dollar deal

After several months of uncertainty, the Boston Celtics finally found their new owner. Bill Chisholm reportedly bought the franchise for $6.1 billion, a record for a North American franchise.

The deal surpassed the sale of the NFL’s Washington Commanders in 2023, which came in at $6.05 billion.

The team was previously owned by the Grousbeck family, who bought it for $360 million, and they’ve agreed to sell it to Chisholm, who is a co-founder of Symphony Technology Group.

“This was an extremely thorough, rigorous sale process,” the Grousbecks said. “We had tremendous interest from potential control owners and we’re grateful for the considerable time and effort bidders put in over the past few months, especially. In the end, Bill and the group he put together came in with a superior final bid.”

Who is Bill Chisholm?

Chisholm was born and raised in Massacusetts, went to Dartmouth, and grew up a Celtics fan. He is the co-founder, managing partner, and Chief Investment Officer of Symphony Technology Group (STG), a private equity firm. STG has about $10 billion of assets under management as of March 2023.

Chisholm also co-founded The Valent Group and worked at Bain & Company and PaineWebber.

Global investment firm Sixth Street backed the sale of the Celtics to Chisholm. They have more than $100 billion in assets under management with other sports holdings that include the San Antonio Spurs, Real Madrid, and FC Barcelona.

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