The new ownership group “has enough to comply with the NBA PE ownership rules.”
There were rumors that the Celtics sale to Bill Chisholm could have fallen apart.
That is no longer the case and the new ownership group will be able to comply with the NBA’s private equity rules, as Front Office Sports’ Ben Horney reports.
Scoop: Rumors that the Celtics deal was in trouble are unfounded. The buyers have enough money (they are “oversubscribed,” sources say), and the deal will comply with NBA PE ownership rules.
Deal expected to be buttoned up within a week. https://t.co/1KsS7zPxQg
— Ben Horney (@BenHorney) May 1, 2025
There were rumors that the sale could have fallen apart because Chisholm was not committing enough money to the sale, Horney reported:
Lead buyer Bill Chisholm’s group now has enough money to cover the cost of the deal and is in fact “oversubscribed,” two sources tell FOS. The group will acquire more than 51% of the franchise in the first tranche of the deal, one source says. The exact size stake Chisholm will end up owning is still unclear. Rumors about potential issues with the transaction sprouted almost as soon as it was announced in late March, including reports that private-equity firm Sixth Street Partners was contributing more money than Chisholm. The NBA’s private-equity ownership rules stipulate that a PE firm cannot be the largest stakeholder in a team and that the controlling owner must contribute at least 15% of the purchase price.
Celtics minority owner Steve Pagliuca pointed this out in his public statement at the time the sale was made, even suggesting that if the sale fell through, he and his group would be ready to swoop in.
Here’s my statement on today’s news. pic.twitter.com/lhKCslEcgF
— Steve Pagliuca (@pagsceltics) March 20, 2025
“We made a fully guaranteed and financed offer at a record price, befitting the best sports fans in the world, and with all the capital coming from individuals who are fully committed to winning on and off the court. We had no debt or private equity money that would potentially hamstring our ability to compete in the future. We have felt it was the best offer for the Celtics,” Pagliuca wrote in a post on March 20th to his X account.
However, Chisholm now has put enough of his own money into the purchase and the sale is expected to be finalized within the week.
Chisholm has been very active with the Celtics, being around the team often since the news of the sale broke in March.