Aditya Mittal, the CEO of ArcelorMittal, invested $1 billion for a group purchase of the Boston Celtics on Thursday.
The group, lead by Bill Chisholm, recently obtained full funding to purchase the team at a $6.1 billion valuation.
Mittal is likely the second-largest stakeholder after Chisholm and may potentially be the alternate governor in the future.
“Aditya has long been a huge supporter of the Boston Celtics,” said a spokesperson for Mittal. “When Wyc and Bill approached Aditya, he saw it as a tremendous opportunity to get involved with this incredible team.”
Chisholm’s group will buy the Celtics in two stages.
ArcelorMittal is the second-largest steel and mining company in the world.