The Boston Celtics have been sold for $6.1 billion, setting a new North American sports record. Bill Chisholm, managing partner at Symphony Technology Group, is the winning bidder, according to ESPN. The purchase surpasses the Washington Commanders’ $6.05 billion sale, previously the largest in North America. Shams Charania of ESPN reported Chisholm’s agreement to buy the Celtics from the Grousbeck family. Chisholm, a Massachusetts native and Dartmouth graduate, grew up a Celtics fan. He will still need approval from other NBA owners before officially taking control of the team.
Boston Celtics Sold For $6.1 Billion, But Effect Will Be Felt In Months
The Grousbeck Era Comes to an End
Wyc Grousbeck, who led the ownership group since 2002, bought the Celtics for $360 million. The franchise won two NBA championships in 2008 and 2024 under his leadership.
In July, Grousbeck announced plans to sell 51 percent of the team for estate and family planning purposes. The sale came shortly after the Celtics captured their 18th NBA championship by defeating the Dallas Mavericks. Despite the ownership change, Grousbeck is expected to remain as the team’s governor during the transition.
A New Era but Stability Remains the Priority
Chisholm’s purchase signals a new era, but players hope stability remains a priority.
All-Star forward Jayson Tatum recently commented on the sale and voiced support for the transition.
“I look forward to whoever it is,” Tatum said this week. “I trust [Grousbeck] and those guys in their decision. We’ve got some great people in this organization and on this team.
We’ve worked really hard to build something special. I trust that they’ll make the right decisions in whoever that next group is.”
Players remain largely isolated from the sale, focusing on the season and playoff push.
Competitive Window Still Wide Open
The Celtics continue to dominate the NBA, holding 50 wins as the regular season winds down. They are on track for a second consecutive 60-win season, showcasing their consistent excellence.
Currently, Boston holds the second-best odds to win another NBA championship. They have retained every key player from their 2024 title-winning team.
Financial Pressure Looms for New Ownership
While the future looks bright, financial challenges await the new ownership group.
The Celtics operate under the third-highest active salary cap in the NBA at $193.3 million.
They are classified as a second-apron team, triggering costly penalties under the NBA’s 2023 collective bargaining agreement.
As repeat offenders, the Celtics face an increasingly hefty luxury tax bill.
For the 2024-25 season, Boston is projected to pay $53.45 million in luxury tax alone.
That figure pushes their total payroll and tax commitment to roughly $246.7 million.
The new owners must decide if they are willing to sustain this financial burden long-term.
Notably, all players on standard contracts are signed through 2025-26, except Al Horford and Luke Kornet.
What Comes Next for the Celtics After $6.1 billion sale?
The Celtics’ sale arrives as the team looks poised for another championship run.
However, the real impact of this ownership change will unfold during the upcoming offseason.
Chisholm’s appetite for maintaining a high payroll will determine how long Boston stays at the top. The Celtics’ winning culture is established, but future financial decisions will shape their long-term success.
© Bob DeChiara-Imagn Images
The post Boston Celtics Sold For $6.1 Billion, Effect Will Be Felt In Months appeared first on Last Word On Basketball.