The sale of the Celtics to an ownership group headed up by William Chisholm is expected to close either late next week or early the following week, three sources familiar with the process tell Kurt Badenhausen and Scott Soshnick of Sportico.
The purchase requires the approval of the NBA’s Board of Governors, but that group doesn’t have to meet in person for a formal meeting, according to Badenhausen and Soshnick, who note that the vote can be conducted remotely.
Chisholm reached an agreement back in March to buy the Celtics from the Grousbeck family in two stages. Chisholm is purchasing a controlling interest in the franchise for a valuation of $6.1 billion and will take over from Wyc Grousbeck after the 2027/28 season when he and his group buy the rest of the club for a valuation of $7.3 billion.
While Chisholm is the lead investor in the Celtics, he’ll be joined by a number of minority shareholders, including ArcelorMittal CEO Aditya Mittal, who will be the second-largest stakeholder in the franchise and could become the team’s alternate governor. In addition to Chisholm and Mittal, the new Celtics ownership group will include current minority stakeholder Robert Hale, Bruce A. Beal Jr., and private equity firm Sixth Street.
After paying nearly $53MM in luxury tax penalties and operating over the second tax apron last season, the Celtics have made a concerted effort to cut costs this summer, with star forward Jayson Tatum expected to miss most or all of 2025/26 due to a torn Achilles.
Boston has moved Jrue Holiday, Kristaps Porzingis, and Georges Niang (who was initially acquired in the Porzingis deal) in financially motivated trades and has reduced what would’ve been a record-setting tax payroll (salary and tax penalties) from $540MM to a projected $239MM, per ESPN’s Bobby Marks (Twitter link).