Boston Celtics Change Ownership in Historic Sale

By: Dillon George

April 25th, 2025

Photo Credit: Sports Illustrated

Two years ago, businessman Matt Ishbia set a new NBA record by purchasing a controlling stake in the Phoenix Suns for $4 billion. Bill Chisholm just blew that number out of the water. Chisholm, managing partner at Symphony Technology Group, agreed to purchase the storied Boston Celtics franchise for a North American franchise record $6.1 billion. 

Chisholm’s group purchased the franchise from Boston Basketball Partners, LLC, a group that had been led by Wyc Grousbeck and Steve Pagliuca since 2002 and widely considered one of the more stable ownership groups around the league. While Chisholm will hold a 51% stake in the Celtics, pending approval from the board of governors, Grousbeck plans to remain as CEO and overall consultant for the next three years, before final sale of the existing owners’ shares takes place in 2028 (ESPN). 

When Ishbia took over the Suns in 2023, he facilitated a trade for superstar Kevin Durant within the next week. While Chisholm didn’t take such drastic measures during the first days of his new gig, he does have looming payroll decisions to make. The Celtics are on track to become the first team paying half a billion dollars in combined payroll and luxury tax this offseason, on the heels of Jaylen Brown’s supermax deal as well as Jason Tatum’s upcoming extension talks. 

With the Celtics sale setting a new benchmark for franchise valuation, league insiders believe that this might have been the final hurdle before the NBA seriously considers expansion conversations. Commissioner Adam Silver has long hinted about new teams in cities like Las Vegas, but the league was waiting for a few key sales to finalize, such as the one in Boston, before diving in. Additionally, while expansion domestically is the likely next step, whispers suggest the NBA is also studying feasibility for international franchises, such as their long standing relationship with Mexico City, or even a return to Europe, with preseason games abroad serving as a soft launch.

While timing of a midseason sale of one of the leagues highest valued franchises may seem bizarre, Grousbeck and Pagliuca saw a rare opportunity to maximize their return while leaving the franchise in strong hands. The looming cost of keeping the roster intact also played a role, with financial realities of the new CBA possibly forcing their hand.