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Celtics officially announces completion of $6.1 billion sale
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- Celtics officially announces completion of $6.1 billion sale
The post Celtics officially announces completion of $6.1 billion sale appeared first on ClutchPoints .
The Boston Celtics officially have a new owner. After the NBA's Board of Governors unanimously approved the sale on Wednesday, August 13, the Celtics announced that Bill Chisholm has completed his acquisition of the Celtics from long-time owner Wyc Grousbeck for $6.1 billion on Tuesday morning.
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While Chisholm will now assume control of the organization as the majority owner, Grousbeck is not set to disappear.
Originally, it was reported that the former Celtics owner would depart the organization . Those claims were false, as he is still very much a part of the franchise he ran for over two decades.
Grousbeck, along with Aditya Mittal, will serve as alternate governors to Chisholm, who is now Boston's team governor. He will also maintain his title as the Celtics' CEO and is considered a co-owner, overseeing day-to-day operations with Chisholm and the basketball and business management team.
As part of this acquisition, global investment firm Sixth Street has become a major participant in Chisholm's investment group.
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"This truly is a dream come true for me and my family," Chisholm said in a statement released by the team on Tuesday. "I feel so fortunate to be here as part of this new investor group, who are accomplished, driven people who care deeply about the Celtics and the Boston community.
"On behalf of our group, I am thrilled to partner with Wyc, Brad Stevens, and Rich Gotham to move this outstanding organization forward. We are committed to building on the legacy of the Celtics and raising banners, and I can't wait for the team to get back out there this fall."
Despite recently winning their 18th championship in team history in 2024, tying the Los Angeles Lakers for the most titles in NBA history, the Celtics are poised to take a step back entering the 2025-26 season.
All-Star forward Jayson Tatum is out indefinitely as he continues to rehab an Achilles injury he suffered in the Eastern Conference Semifinals against the New York Knicks , and Boston cut major costs this offseason by trading away Kristaps Porzingis and Jrue Holiday .
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The Celtics also moved Georges Niang , who they received in the Porzingis trade with the Atlanta Hawks , for salary relief.
Nonetheless, Chisholm and Grousbeck still expect their organization to be competitive in the Eastern Conference, and they will continue to make moves to set this franchise up for success.
"The Celtics have been my life's work for the past 23 years. This incredible ride is now continuing, Grousbeck said in the team's press release. "I am fired up to be shoulder to shoulder with Bill as we pull every level to go after another banner. There is nothing better than winning."
This sale was among three notable ownership changes in the NBA this offseason. Mark Walter, the owner of the Los Angeles Dodgers, bought the Lakers for $10 billion in June, and the Portland Trail Blazers recently sold for an estimated $4 billion to Tom Dundon, who owns the Carolina Hurricanes in the NHL.
Related: Celtics agree to contract with ex-Pistons, Raptors guard
