Bill Chisholm officially became the Boston Celtics’ lead governor Tuesday as his investment group completed the $6.1 billion purchase from the Grousbeck family. The transaction marks one of the largest sports franchise sales in history.
Original plans called for Wyc Grousbeck to remain lead governor until 2028, but NBA guidelines requiring lead governors to own at least 15 percent forced an immediate transition when Grousbeck’s stake fell below that threshold.
“I’m thrilled, and as a fan am just thankful to have this opportunity, but also to Wyc and his group, because [what they accomplished] is pretty spectacular and it’s a pretty high bar,” Chisholm told the Boston Globe. “So, I’m feeling the pressure.”
“The day-to-day operational approach here is the same as it ever was,” Chisholm said. “Wyc and I are arm in arm here leading the charge with the Celtics.”
Despite the title change, both owners emphasized their continued partnership. Grousbeck now serves as alternate governor and CEO while maintaining operational involvement.
“When it became clear the governor title was not going to be available because of technical reasons, because of math, Bill said, ‘Well, then we’re just not going to use that word around the office,'” Grousbeck said. “So that says a lot about Bill, that he doesn’t care. He just wants to do the right thing for the team, and I feel the exact same way. We’re shoulder to shoulder.”
The Celtics have shed nearly $300 million in salary to reset luxury tax penalties. Key championship pieces including Jrue Holiday, Kristaps Porzingis, and Al Horford have departed, while Jayson Tatum is expected to miss the season with an Achilles injury.
“We’re not playing for second; we’re playing for championships and banners,” Chisholm said. “We’re playing for them in the near term, although we obviously had to do some things to get below the second apron. But we’re also playing for them in the medium and long term.”
“The second apron means you can’t do it by just throwing money at the problem. You have to do it with talent, you have to do it with leadership,” Chisholm added.