A consortium led by private equity investor Bill Chisholm has acquired a majority stake in the Boston Celtics, valuing the franchise at an initial $6.1 billion.
The transaction marks the largest private equity sports investment to date. The deal, structured in two parts, could ultimately push the Celtics’ valuation to $7.3 billion, according to Axios.
This acquisition surpasses Josh Harris’ 2023 purchase of the NFL’s Washington Commanders for $6.05 billion, making the Celtics deal the largest transaction in sports history.
Chisholm, a Boston native, is the co-founder of Symphony Technology Group, a middle-market private equity firm focused on technology investments.
Sixth Street Partners is contributing $1 billion to the investment, according to multiple reports. The firm has been active in sports investments, having acquired a 10% stake in the San Francisco Giants earlier this week.
The Celtics were last sold in 2002 for $360 million to investors including venture capitalist Wyc Grousbeck, who is the current CEO and will continue to oversee team operations through the 2027-28 NBA season, and private equity investor Steve Pagliuca.
For this process, Pagliuca also made a “fully guaranteed and financed offer” for the team, which was not accepted, Pagliuca shared in a statement.
Still, according to PitchBook data, the team’s valuation increased by 1,594% between the 2002 deal and Thursday’s majority sale, and private equity firms continue to pounce on opportunities with professional sports franchises.
Advisers to the Grousbeck family and the Boston Celtics included BDT & MSD Partners, JP Morgan and the Jordan Park Group, while Cooley and Gunderson Dettmer served as legal counsel. The consortium tapped Goldman Sachs as financial adviser and Wachtell, Lipton, Rosen & Katz as legal counsel.
Data analyst Nick Zambrano contributed to this article.
Update: Gunderson Dettmer also represented the sellers. (Mar. 25, 2025)
Featured image by Adam Glanzman/Getty Images
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