Record $6.1B Celtics Sale Lets Grousbeck Hold Team Until 2028

Celtics ownership has agreed to sell the team to William Chisholm, managing director and cofounder of Symphony Technology Group, for $6.1 billion. The deal was announced Thursday morning to Celtics investors by Irving and Wyc Grousbeck, the leaders of the team’s majority ownership group.

It is the largest sale of a North American sports franchise, eclipsing the $6.05 billion sale of the NFL’s Commanders last year. 

The sale does not include the TD Garden, the team’s home arena, since that is owned by the NHL’s Bruins. The Celtics’ lease at TD Garden runs until the end of the 2035–2036 season.

Chisholm is a Dartmouth graduate who grew up in Georgetown, Mass. Symphony Technology Group is a private equity firm based in Menlo Park, Calif. 

The Grousbeck family announced in June that the team was up for sale—just weeks after they had set the NBA record with an 18th NBA championship. The Grousbeck family originally purchased the Celtics in 2002 for $360 million. Wyc Grousbeck, the Celtics’ current team governor, will remain in the position until the 2027–2028 season.

Boston is on pace to pay a record $500 million for its payroll next season with more than half of the charges coming from tax penalties. 

The $6.1 billion sale price sets the market value for the NBA’s potential expansion teams. Las Vegas and Seattle are expected to be front-runners.

Celtics minority owner Steve Pagliuca, who made a competing bid for the team, issued a statement Thursday morning.