By Jordan Valinsky of CNN
Photo: Mark Halmas/Icon SMI
The Boston Celtics, one of the most successful NBA teams in history, has been sold for $US6.1 billion, ($NZ10.6b), marking the largest sale of a sports franchise in North America.
The Celtics deal is the largest in the NBA and is a US major league sports record, bypassing the $US6.05b ($NZ 10.5b) deal for NFL team Washington Commanders in 2023 and the $US4b ($NZ6.95b) purchase of NBA team Phoenix Suns in 2023.
An investor group led by William Chisholm, a billionaire who amassed much of his wealth from private equity, is buying the Celtics.
The group also includes includes Rob Hale, a current Celtics investor, and Bruce Beal Jr, president of real estate giant Related Companies.
"Bill is a terrific person and a true Celtics fan, born and raised here in the Boston area," Celtics chief executive Wyc Grousbeck said in a statement.
"His love for the team and the city of Boston, along with his chemistry with the rest of the Celtics leadership, make him a natural choice to be the next governor and controlling owner of the team."
The Grousbeck family bought the Celtics, who have won 18 championships in their history, in 2002 for $US360 million, representing a nearly 1600 percent gain in value.
Grousbeck will remain the team's governor through the 2027-28 season.
Chisholm co-founded and is the managing partner of Symphony Technology Group, a California-based private equity firm that invests in tech.
"Growing up on the North Shore and attending college in New England, I have been a die-hard Celtics fan my entire life," Chisholm said in a media release.
"I understand how important the Celtics are to the city of Boston - the role the team plays in the community is different than any other city in the country."
-CNN
