The ownership group of Bill Chisholm has secured enough financing to cover the cost to purchase the Boston Celtics at a $6.1 billion valuation. The group will acquire more than 51% of the franchise in the first tranche of the deal. Chisholm’s personal ultimate stake is not yet clear.
The sale will be finalized within the next week or two and the deal structure will be compliant with the NBA’s private-equity ownership rules. There had been reports that Sixth Street Partners was contributing more money than Chisholm, who will be the governor of the team.
The full sale will still take place in two parts and existing minority owners will have the ability to retain their positions until 2028. Those minority owners will get to sell their stakes for up to 20% more than the original deal price that brings the final blended value close to $7.3 billion.
The NBA’s board of governors will likely vote on the deal in June.