Celtics sell for $6.1 billion, passing Commanders’ record price

The Boston Celtics sold for a record-setting $6.1 billion Thursday to private equity billionaire William Chisholm.

The sale — which has yet to be approved by the NBA’s board of governors — features the richest price for a North American sports team. The jaw-dropping price tag narrowly breaks the record set by the $6.05 billion sale of the Washington Commanders in 2023. 

The NFL might rule the American sports landscape, but the Celtics are a league above where the Commanders were two years ago. 

Boston is defending its 2024 championship with stars Jayson Tatum and Jaylen Brown leading the squad into another postseason run. The franchise’s 18 NBA titles are the most in league history, one above the Los Angeles Lakers. 

The Celtics’ sale could set a new standard for NBA valuations. Two years ago, Mat Ishbia paid $4 billion for the Phoenix Suns (and the WNBA’s Phoenix Mercury) while Jimmy and Dee Haslem paid $3.5 billion for the Milwaukee Bucks. 

Even the league-worst Washington Wizards have seen their value skyrocket over the past four years. In 2021, owner Ted Leonsis’ club was worth just $1.9 billion, according to Forbes. That number has ballooned to more than $4 billion.

A Massachusetts native and graduate of Dartmouth College and Penn’s Wharton School of business, Chisholm is the managing partner of California-based Symphony Technology Group. The new ownership group also includes Boston businessmen Rob Hale, who is a current Celtics shareholder, and Bruce Beal Jr.

“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 statement. “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.”

Wyc Grousbeck, whose family leads the ownership group that bought the team in 2002 for $360 million, said Chisholm asked him to stay on as CEO and Governor for the next three seasons, “and I am glad to do so.”

“Bill is a terrific person and a true Celtics fan, born and raised here in the Boston area,” Grousbeck said. “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. I know he appreciates the importance of the Celtics and burns with a passion to win on the court while being totally committed to the community. Quite simply, he wants to be a great owner.”

This article is based in part on wire service reports.