In a historic move, the majority ownership of the Boston Celtics franchise was reportedly sold to Bill Chisholm, managing partner at Symphony Technology Group, for a sports team-record $6.1 billion. Chisholm, co-founder of the California-based private equity firm, procured the stake from the Grousbeck family, with Wyc Grousbeck set to remain as team CEO and governor until 2027-28. The deal is considered the largest sale for a sports franchise in North America and could potentially have significant ripple effects on the NBA and its future league expansion plans.
The sale of the Celtics has sparked speculation about the possible return of the Seattle SuperSonics, with rumors swirling that the NBA could be looking to add two expansion teams. Seattle Kraken majority owner Samantha Holloway expressed interest in bidding to bring the team back to town, emphasizing the group’s readiness with Climate Pledge Arena and the city’s passionate fanbase. While Seattle and Las Vegas are frequently mentioned as top contenders for expansion teams, the sale of the Celtics may impact the timing and selection of new franchises.
The new Celtics ownership group’s winning bid did not include the purchase of TD Garden, the team’s home arena, leading to speculation that the expansion fee for a new franchise could start around the $5 billion mark. Holloway’s father, David Bonderman, is a current minority owner of the Celtics, but the sale will divest the family from any potential conflicts of interest related to franchise ownership. The deal marks a significant shift in ownership for the Celtics and raises questions about how it will influence the future landscape of the NBA.
The sale of the Boston Celtics has generated excitement among NBA fans, particularly in Seattle, where there is a strong desire to see the return of a professional basketball team. With the league potentially considering expansion, the sale of the Celtics could play a key role in determining the future of the NBA and its plans for new franchises. As the new ownership group takes over, there is anticipation and curiosity about the changes and developments that may unfold in the coming years. The historic sale of the Celtics has set a new benchmark for sports team transactions and could have far-reaching implications for the league as a whole.
