Home » Celtics sold to new ownership group for USD6.1 billion: sources

Celtics sold to new ownership group for USD6.1 billion: sources

The Celtics are sold to a new ownership group, according to sources on Thursday, for a reported USD6.1 billion.

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CELTICS SOLD TO NEW OWNERSHIP GROUP FOR RECORD USD6.1 BILLION

The Celtics were sold to a new ownership group for a record USD6.1 billion, sources told ESPN’s Shams Charania.

Furthermore, the new group was led by Bill Chisholm, managing partner at Symphony Technology Group.

Moreover, the group also includes Boston business leaders like Rob Hale, a current Celtics shareholder, and Bruce Beal Jr.

The record sale surpasses the USD6.05 billion price laid out by a group by Josh Harris to buy the Washington Commanders of the National Football League in 2023.

It also topped the record number for the control stake of an NBA team, which Matt Ishbia set when he bought the Phoenix Suns for USD4 billion.

PLAN TO PURCHASE CELTICS STARTED AS A CHILDHOOD DREAM, SAYS CHISHOLM

The plan to purchase the Celtics started a long time ago for Chisholm as a childhood dream for him.

Moreover, the lifelong Celtics fan recalled a desire to buy the team as far as after his seventh birthday.

Furthermore, Chisholm lauded the efforts the Celtics organization have done, citing executive Brad Stevens and current coach Joe Mazzulla.

“This process to buy the team started just under 50 years ago when I had my 7th birthday and attended a game at the old Boston Garden,” Chisholm told Charania.

“I was hooked ever since. I’ve been a rabid fan ever since. I bleed green. I love the Celtics. When this opportunity came up, I couldn’t pass it up,” he added.

RECORD SALE COULD LEAD TO IMMINENT NBA LEAGUE EXPANSION

The record sale is good for the teams because it boosted their value.

Furthermore, the latest sale of the Celtics could lead to an imminent expansion in the NBA.

Moreover, NBA commissioner Adam Silver has been addressing the issue many time times, including last September in meetings in New York.

“It (expansion) was something that we told our board we plan to address this season, and we’re not quite ready yet,” Silver said.

“But I think there’s certainly interest in the process, and I think that we’re not there yet in terms of having made any specific decisions about markets or even frankly to expand,” he added.