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New York (CNN) — The Boston Celtics, one of the most successful NBA teams in history, has sold for $6.1 billion, marking the largest sale of a sports franchise in North America.
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 CEO Wyc Grousbeck said in a statement Thursday. “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 $360 million, representing a nearly 1,600% gain in value. Wyc 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 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.”
The Celtics deal is the largest in the NBA and is a US major league sports record, bypassing the $6.05 billion deal for NFL team Washington Commanders in 2023 and the $4 billion purchase of NBA team Phoenix Suns in 2023.
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