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The owners of the Boston Celtics have agreed to a deal to sell the team, according to the Boston Globe's Adam Himmeslabach. ESPN's Shams Charania reported the sale price is around $6.1 billion, a record in North American professional sports.
The new owner of the team is Bill Chisholm, who grew up in Massachusetts and went to college at Dartmouth College in New Hampshire. Chisholm is the co-founder of Symphony Technology Group, a California-based private equity firm launched in 2002. Sporitco reported STG has roughly $10 billion in assets under management. Himmelsbach said Chisholm is a life-long fan of the Celtics, the winningest team in NBA history.
Charania also reported that current majority owner Wyc Grousbeck is expected to remain governor of the team through the transition period, when the second leg of the sale concludes in 2028. When the Grousbeck family announced their intentions to sell the team back in July of 2024, they said they hoped to sell the team in steps rather than all at once. It is unclear at the time of this writing how that may play out.
The Celtics have one of the most expensive payrolls in basketball and will look to defend their 2024 title this spring as the NBA playoffs come around.
Listen to the "Celtics Lab" podcast on:
Apple Podcasts: https://apple.co/3zBKQY6
Spotify: https://spoti.fi/3GfUPFi
This article originally appeared on Celtics Wire: Massachusetts native Bill Chisholm to buy Celtics for record sum
Continue reading...
The new owner of the team is Bill Chisholm, who grew up in Massachusetts and went to college at Dartmouth College in New Hampshire. Chisholm is the co-founder of Symphony Technology Group, a California-based private equity firm launched in 2002. Sporitco reported STG has roughly $10 billion in assets under management. Himmelsbach said Chisholm is a life-long fan of the Celtics, the winningest team in NBA history.
Charania also reported that current majority owner Wyc Grousbeck is expected to remain governor of the team through the transition period, when the second leg of the sale concludes in 2028. When the Grousbeck family announced their intentions to sell the team back in July of 2024, they said they hoped to sell the team in steps rather than all at once. It is unclear at the time of this writing how that may play out.
The Celtics have one of the most expensive payrolls in basketball and will look to defend their 2024 title this spring as the NBA playoffs come around.
Listen to the "Celtics Lab" podcast on:
Apple Podcasts: https://apple.co/3zBKQY6
Spotify: https://spoti.fi/3GfUPFi
This article originally appeared on Celtics Wire: Massachusetts native Bill Chisholm to buy Celtics for record sum
Continue reading...
