Boston Celtics Franchise Sold for $6.1 Billion

by Owen Ayite-Atayi, age 17

Bill Chisholm, a co-founder and managing partner of hedge fund Symphony Technology, is buying the Boston Celtics for $6.1 billion, the largest amount paid for a sports franchise in North America.

“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. “I understand how important the Celtics are to the city of Boston. The team's role in the community is different from 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 sale surpasses the sale of the Washington Commanders for $6.05 billion in 2023. The Grousbeck family, which currently owns the Celtics, put the team on the market after the Celtics won the NBA championship last year. The first part of the sale will be for 51%, with the remaining portion completing the deal in 2028. Additional incoming co-owners include businessman Rob Hale and Bruce Beal Jr., president of Related Companies, a New York-based real estate firm.

The Grousbeck family bought the Celtics for $360 million in 2002. Wyc Grousbeck, a majority owner, said Chisholm being from Massachusetts helped his bid because of his personal ties to the community.

“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.

Grousbeck will continue to be the Celtics CEO and governor through the 2027-28 NBA season.

Chisholm’s ownership of the Boston Celtics will mark a significant milestone in the franchise’s history. Fans hope his passion and business smarts will keep the Celtics’ winning tradition alive.

[Sources: CBS News; ESPN]