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Boston Celtics Becomes Most Expensive Team in $6.1 Billion Deal
Posted
March 20, 2025
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March 20, 2025
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5:34Now PlayingA consortium that includes tech and real estate investors, alongside a private equity firm, has reached a deal to buy the National Basketball Association’s Boston Celtics for $6.1 billion.
The takeover is not only the biggest NBA deal ever, surpassing the $4 billion valuation hit when Mat Ishbia struck an agreement for the Phoenix Suns in late 2022, but also the largest ever sports takeover. The Washington Commanders were sold in 2023 for $6.05 billion.
Bill Chisholm, co-founder of California-based private equity firm STG Partners, led the takeover of the Celtics. Sixth Street committed more than $1 billion to the Celtics deal, according to people with knowledge of the matter. The deal is the second major sports investment the private equity firm has made this week, after buying a 10% stake in the San Francisco Giants.
Chisholm’s consortium also includes Bruce A. Beal Jr., president of Related Cos., and Rob Hale, a pre-existing Celtics investor and head of Granite Telecommunications. Wyc Grousbeck will remain the Celtics governor until the end of the 2027-28 season.
“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,” Chisholm said in a statement.
Born and raised in Massachusetts, Chisholm is the managing partner and chief investment officer of STG, a private equity firm that makes bets on software firms and other tech businesses. He’s a die-hard Celtics fan.
The former ownership group, led by Wyc Grousbeck and including Bain Capital’s Stephen Pagliuca, purchased the team for $360 million in 2002 and have benefited from soaring valuations for US sports franchises in the past few years, alongside the team’s performance on the court.
Bloomberg News reported Chisholm’s consortium had emerged as the front-runner earlier Thursday. Sportico's Scott Soshnick breaks down what this means for the future of the Celtics.
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