Bill Chisholm Buys Celtics For Record-Breaking Price

According to ESPN’s Shams Charania, the Boston Celtics are set to change ownership, where the Grousbeck family has agreed to sell the franchise to Bill Chisholm for a record-breaking USD$6.1 billion (AUD$9.68 billion), marking the highest sale price for a North American sports team.

This move follows the Grousbecks’ announcement last year regarding their intention to sell after over two decades of ownership, particularly after a triumphant season that culminated in an NBA title.

The Grousbecks initially acquired the Celtics in 2002 for USD$360 million (AUD$571.15 million), resulting in an astounding profit exceeding USD$5.5 billion (AUD$8.73 billion) upon the completion of this sale.

This transaction surpasses the previous record set by the sale of the Washington Commanders to Josh Harris for USD$6.05 billion (AUD$9.60 billion) in 2024.

As outlined by the Boston Globe, Chisholm will not be alone in his ownership endeavours; he joins forces with current co-owner Robert Hale, Bruce Beal Jr., president of Related Companies, and the global investment firm Sixth Street as part of the new ownership group.

Who is Bill Chisholm?

Chisholm serves as the managing partner and chief investment officer of Symphony Technology Group, a private equity firm that focuses primarily on technology and software businesses.

Established in 2002, the firm has grown significantly, managing considerable assets, with figures reportedly as high as USD$10 billion (AUD$15.87 billion) as recently as March 2023, according to Sportico.

Prior to his role at STG, Chisholm founded The Valent Group and has considerable experience from his time at Bain & Company and PaineWebber.

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