Boston Celtics sold for $6.1 billion to group led by private equity executive Bill Chisholm

A group led by private equity executive Bill Chisholm is shopping for the NBA’s reigning champion Boston Celtics at a valuation of $6.1 billion, the group’s possession introduced Thursday.

Private equity agency Sixth Road is a part of the brand new possession group and can contribute greater than $1 billion, one individual accustomed to the matter mentioned. Different members of the possession group are Boston-area businessman Rob Hale, a present group proprietor, and Bruce Beal Jr., president of actual property agency Associated Firms.

“Rising up on the North Shore and attending school in New England, I’ve been a die-hard Celtics fan my complete life,” Chisholm mentioned in a Thursday information launch. “I perceive how essential the Celtics are to town of Boston – the function the group performs locally is completely different than some other metropolis within the nation. I additionally perceive that there’s a accountability as a frontrunner of the group to the folks of Boston, and I’m up for this problem.”

The Celtics’ present possession group, Boston Basketball Companions, is led by the Grousbeck household. Wyc Grousbeck, the group’s CEO and governor, will stay in these roles by way of the 2027-2028 season. If authorized, the sale will undergo this summer time.

“Bill is a terrific individual and a real Celtics fan, born and raised right here within the Boston space,” Grousbeck mentioned in an announcement. “His love for the group and town of Boston, alongside along with his chemistry with the remainder of the Celtics management, make him a pure alternative to be the following Governor and controlling proprietor of the group.”

The NBA declined to remark.

It’s unclear how a lot Chisholm, co-founder of the agency Symphony Know-how Group, will personally pay as a part of the deal.

The $6.1 billion sale value is the best for a group in U.S. sports activities historical past, surpassing the $6.05 billion deal for the NFL’s Washington Commanders in 2023.

CNBC Sport’s Official NBA Staff Valuations checklist launched in February had estimated the Celtics franchise to be price $5.5 billion. The highest-valued group was the Golden State Warriors at $9.4 billion.

The sale of the Celtics to a big possession group comes as sports activities franchise valuations skyrocket, making it tougher for people or households to purchase a group themselves. The NFL final yr adopted the NBA and different main leagues in permitting private equity companies to take stakes in groups.

Hovering media rights funds have contributed to fast progress in group valuations. The 11-year, $76 billion settlement the NBA signed with Walt Disney, NBCUniversal and Amazon beginning subsequent season greater than doubled the annual worth of the league’s earlier media deal.

The Celtics have received 18 championships, essentially the most within the historical past of the NBA. The group has the second-best file within the NBA’s Jap Convention this season and is taken into account a robust contender to win its second consecutive title.

— CNBC’s Michael Ozanian and Leslie Picker contributed to this story.

Disclosure: Comcast is the mum or dad firm of NBCUniversal and CNBC.