3:08 pm: Chisholm and Grousbeck still intend to run the Celtics together for the next few years, according to Shelburne, who reports (via Twitter) that Grousbeck is giving up his governor title because he’ll control less than the 15% minimum stake required for the person who holds that position.
10:50 am: When the Grousbeck family agreed to sell the Celtics to William Chisholm, the stated plan was for Wyc Grousbeck to remain in his role as the team’s governor through the 2027/28 season. The expectation was that Grousbeck would give up his position when Chisholm’s group – which is initially buying a 51% stake – purchased the rest of the shares in the franchise in 2028.
However, Grousbeck will no longer retain the governor title following the first stage of the ownership transfer, sources tell ESPN’s Shams Charania and Ramona Shelburne. According to Charania and Shelburne, Chisholm will immediately become the Celtics’ new governor once his purchase of the team is approved, which is expected to happen very soon.
ESPN’s report doesn’t specify the reason for the change of plans, but it was an unorthodox approach to have Chisholm acquiring majority control of the team while keeping the team’s former majority owner in the top organizational role.
Grousbeck will continue to operate as the Celtics’ CEO and will also serve as an alternate governor once the sale is complete, per Charania and Shelburne.
This isn’t the first time in recent years that a plan to have an NBA owner remain in a prominent position in the organization after he sells the team has fallen through — Mark Cuban was reportedly expected to remain the Mavericks’ top basketball decision-maker after he sold controlling interest in his franchise to the Aldersons and Patrick Dumont, but that didn’t end up happening.
The Lakers announced a similar arrangement when Mark Walter reached an agreement to buy control of the team from the Buss family. The expectation is that Jeanie Buss will stay in her role as governor in Los Angeles for several seasons after Walter assumes control of the franchise.
Given what happened with Cuban and now Grousbeck, we’ll see if that comes to fruition, but it’s worth noting that Walter has been a minority owner in the Lakers for several years and had a preexisting relationship with the Buss family when he agreed to purchase the club, whereas the buyers and sellers in Dallas and Boston hadn’t previously worked together.
Grousbeck will step down as Boston’s governor after holding the position for over two decades. The Grousbeck family bought the Celtics in 2002 and has since helped guide the organization to a pair of championships (in 2008 and 2024). They bought the team for $360MM and sold it at a valuation of $6.1 billion.