After Bill Chisholm Buys Boston Celtics For Record $6.1 Billion, Will He Spend Whatever It Takes To Keep ‘Raising Banners’?

In 2002, the Grousbeck family purchased the Boston Celtics for $360 million. On Thursday, following the July announcement that the franchise was up for sale, they sold it for $6.1 billion – a record for any North American franchise, let alone the NBA (for which the record had been the $4 billion sale of the Phoenix Suns to Mat Ishbia in 2023).

The new ownership group features Bill Chisholm, a managing partner at Symphony Technology Group, as well as current Celtics shareholder Rob Hale and Related Companies president Bruce Beal Jr.

The terms of the deal are aimed at maintaining a stable ownership presence of the NBA’s most historically successful franchise. The Grousbecks are expected to sell a majority of the franchise immediately, pending approval from the league. Current owners would then have the option to retain their equity until 2028, at which point it could be sold for a higher rate.

Ownership will also stay constant in one vital way until 2028: Chisholm has asked Wyc Grousbeck, CEO and governor of the franchise, to stay on for three more seasons.

“Wyc has done an incredible job running this franchise. So why would you mess that up?” Chisholm told ESPN. “The team is in a great place right now, and I’m very sensitive to that. Wyc, Brad [Stevens] and Joe [Mazzulla] have done amazing jobs and that’s all goodness that we want to continue.”

That “amazing job” includes the Celtics’ record 18th NBA title, which they won in five games over the Dallas Mavericks in 2024, and their current position as the team with the third-best record in the league. Yes, the Celtics have done very well for themselves – and, for the coaching search, that meant special emphasis on the commitment and resources to win.

“We hoped from the beginning to find the right person with the resources and commitment to win banners, and being a great person,” Grousbeck said. “Bill checks every box for us. I have always been a consultant and have had final say here with the Celtics since the family bought into the team, and that will continue for the next three years and we will transition.”

Chisholm made it simple: “My approach is to win and raise banners.”

Chisholm also emphasized his commitment to the team and fanbase, starting with his Celtics fandom in young childhood. “I’m a fan,” he said. “That’s the most important thing. I bleed green. I’m up for the challenge.”

• Share on Facebook
• Tweet
• Submit to Reddit
• Submit to Threads
• Submit to Pinterest
• Share to Pocket

Article by Katherine Manz