The Boston Celtics are being sold, and for a record amount of money.
Celtics ownership announced Thursday morning they are selling to team to William Chisholm, the co-founder and managing partner of Symphony Technology Group, for $6.1 billion. The deal, which is pending approval from the NBA Board of Governors, would be a record for its kind.
Chisholm previously worked for Boston-based Bain & Company, is a native of Georgetown, Mass., and a Dartmouth College graduate, according to The Boston Globe.
Wyc Grousbeck, who has been majority owner of the Celtics since buying the team in 2002 for $360 million, said he will continue to run the Celtics as CEO and governor through the 2027-2028 NBA season.
He called Chisholm “a true Celtics fan” and a “natural choice” to be the next controlling owner of the team, according to a report from CBS.
“I know [Chisholm] appreciates the importance of the Celtics and burns with a passion to win on the court while being totally committed to the community,” Grousbeck said. “Quite simply, he wants to be a great owner.”
Current Celtics co-owner Steve Pagliuca, who was seen as a potential buyer for the team, confirmed in a statement released after the sale news on Thursday that his bid was unsuccessful, according to CBS.
“We made a fully guaranteed and financed offer at a record price, befitting the best sports fans in the world, and with all the capital coming from individuals who are fully committed to winning on and off the court,” Pagliuca said. “We have felt it was the best offer for the Celtics. It is a bid of true fans, deeply connected to Boston’s community, and we’ve been saddened to find out that we have not been selected in the process.”
