The Boston Celtics hang the 2024 NBA championship banner at TD Garden.
Danielle Parhizkaran | Boston Globe | Getty Images
A group led by private equity executive Bill Chisholm is buying the NBA’s Boston Celtics at a valuation of $6.1 billion, the team’s ownership announced Thursday.
Private equity firm Sixth Street is part of the new ownership group and will contribute more than $1 billion, one person familiar with the matter said. Other members of the ownership group are Boston-area businessman Rob Hale and Bruce Beal Jr., president of real estate firm Related Companies.
“Growing up on the North Shore and attending college in New England, I have been a die-hard Celtics fan my entire life,” Chisholm said in a Thursday news release. “I understand how important the Celtics are to the city of Boston – the role the team plays in the community is different than any other city in the country. I also understand that there is a responsibility as a leader of the organization to the people of Boston, and I am up for this challenge.”
The Celtics’ current ownership group, Boston Basketball Partners, is led by the Grousbeck family. Wyc Grousbeck, the team’s CEO and governor, will remain in those roles through the 2027-2028 season.
“Bill is a terrific person and a true Celtics fan, born and raised here in the Boston area,” Grousbeck said in a statement. “His love for the team and the city of Boston, along with his chemistry with the rest of the Celtics leadership, make him a natural choice to be the next Governor and controlling owner of the team.”
The NBA declined to comment.
CNBC Sport’s Official NBA Team Valuations list released in February had estimated the Celtics franchise to be worth $5.5 billion. The top-valued team was the Golden State Warriors at $9.4 billion.
— CNBC’s Jessica Golden and Leslie Picker contributed to this story.
