• Loading stock data...
Saturday, September 13, 2025
Tuned In is Almost Sold Out! Limited Tickets Remain!
exclusive
Asset Class

Celtics Buyer Has Secured Enough Funding to Close Deal 

The deal will be finalized within the next week or so and comply with NBA private equity ownership rules, sources tell FOS.

Bill Chisholm
Bob DeChiara-Imagn Images

The record $6.1 billion Boston Celtics sale will be finalized within the next week or so and the deal structure will be compliant with NBA private-equity ownership rules, Front Office Sports has learned.

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. 

It wasn’t just media speculation. Steve Pagliuca, a minority owner since 2002 who lost to Chisholm’s group in the battle to buy the Celtics, wrote a fiery public letter to fans last month that said his proposal was “fully guaranteed and financed” and had “no debt or private equity money that would potentially hamstring our ability to compete in the future.” Pagliuca even said: “If the announced transaction does not end up being finalized, my partners and I are ready to check back into the game…”

In a highly unusual move, even though Chisholm will become the controlling owner upon approval of the agreement, Grousbeck will remain in his roles of CEO and governor through the 2027-28 season. 

The full sale will still take place in two parts, one source says, and existing minority owners will have the ability to retain their positions until 2028. 

Those minority owners will get to sell their stakes for up to 20% more than the original deal price, in accordance with a revenue-based formula set by the league, and when all is said and done that will bring the final blended value of the deal close to $7.3 billion.

NBA owners are expected to vote on the deal at some point in June. The NBA declined to comment. 

On the court, the Celtics eliminated the Orlando Magic earlier this week and await the winner of the New York Knicks-Detroit Pistons series. Boston has the second-best odds in Vegas to repeat as NBA champions. 

For all the latest in sports finance, investment, and transaction activity, subscribe to Ben’s twice-weekly Asset Class newsletter.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

exclusive

Field of 68’s Jeff Goodman, Rob Dauster to Lead On3’s College Hoops..

Goodman previously worked for ESPN, CBS Sports, and Stadium.

YouTube’s Revised NFL Game Rating Still Has Fox, ESPN Execs Upset 

Adjusted viewership metrics from the streamer reignited debate about the game.
PHILADELPHIA, PENNSYLVANIA - APRIL 19: A detailed view of the MLB Debut patch on the jersey of Patrick Monteverde #44 of the Miami Marlins prior to game against the Philadelphia Phillies at Citizens Bank Park on April 19, 2025 in Philadelphia, Pennsylvania.

The Tiny Jersey Patch at the Center of the MLB Rookie Card..

Autographed cards containing a piece of baseball history have upended the market.

Massachusetts Sues Kalshi To Block Sports Prediction Markets

A lawsuit claims the company’s offerings are indistinguishable from traditional sports bets.

Featured Today

Eagles-Chiefs Super Bowl Rematch Could Set More NFL Ratings Records

Fox will nationally televise Sunday afternoon’s matchup.
September 10, 2025

ESPN’s ‘MNF’ Ratings Up 8% As NFL Surges to Strong Start

ESPN posts its second-best Week 1 “Monday Night Football” audience.
Sep 7, 2025; Orchard Park, New York, USA; Buffalo Bills fans react during the fourth quarter against the Baltimore Ravens at Highmark Stadium.
September 9, 2025

As Bills Ascend, Their Next Frontier Lies in Canada

Buffalo and the powerful Canadian entity MLSE come together in a new pact.
opinion
September 9, 2025

The Good, The Bad, and The Ugly from NFL’s Week 1 Broadcasts

Many viewers decried the addition of ads to “NFL RedZone.”

Dexter Fowler Wants to Change the Narrative on Athlete Ownership

The former MLB All-Star owns a stake in Premier League team Bournemouth.
April 27, 2025; Anfield, Liverpool, BRITAIN; Liverpool player Mohamed Salah scores the fourth goal against the Tottenham Hotspur in a Premier League match.
September 8, 2025

Tottenham Hotspur ‘Not for Sale’ Amid Takeover Interest

Two groups made offers in just the last week.
[Subscription Customers Only] Jul 9, 2025; East Rutherford, New Jersey, USA; Real Madrid CF forward Kylian Mbappe (9) reacts after a semifinal match of the 2025 FIFA Club World Cup at MetLife Stadium.
September 11, 2025

CVC Builds Out Sports Division Amid Crowded PE Market

The firm’s sports portfolio is reportedly worth $13.6 billion.
Sponsored

How World Series Champ Dexter Fowler Became a Premier League Team Owner

Dexter Fowler discusses navigating retirement and embracing new roles as an owner & investor.
StubHub
September 8, 2025

StubHub Seeks Big Valuation in Revived IPO Despite $112M Loss

The ticket marketplace looks to raise as much as $851 million.
Dec 21, 2015; New Orleans, LA, USA; New Orleans Saints wide receiver Marques Colston (12) makes a 12-yard touchdown catch in front of Detroit Lions defensive back Dwight Bentley (41) in the fourth quarter of the game at the Mercedes-Benz Superdome.
exclusive
September 5, 2025

Marques Colston Wants You to Invest in Sports Assets With Him

The former NFL star is launching a fund anyone can invest in.
Aug 21, 2025; East Rutherford, New Jersey, USA; New York Giants quarterback Jaxson Dart (6) throws a pass during the first quarter against the New England Patriots at MetLife Stadium.
September 4, 2025

Giants Sell Minority Stake to Kochs at Reported $10B Valuation

It’s the latest in a flurry of minority-stake deals for NFL teams.
August 31, 2025

MLB Extends Leaves of Clase, Ortiz as Betting Probe Continues

Their paid non-disciplinary leaves have been extended “until further notice.”