William Chisholm

Celtics’ Grousbeck Talks Tax Aprons, Sale, Chisholm, Arena

March 21st, 2025 at 11:01pm CST by Luke Adams

Celtics governor Wyc Grousbeck has agreed to sell his controlling stake in the franchise, but the plan is for Grousbeck to remain in his current position with the team through the 2027/28 season, collaborating with William Chisholm and his investors as the defending champions transition to a new ownership group.

A major part of that transition will involve determining how long to maintain one of the NBA’s highest payrolls. The Celtics are operating over the second tax apron, restricting their ability to make certain roster moves and ensuring that their 2032 draft pick will become “frozen” this offseason, making it ineligible to be traded.

According to Grousbeck, those roster-related restrictions imposed on teams operating above the second apron are of greater concern than the prospect of repeatedly pay substantial luxury tax bills.

“It’s not the luxury tax bill, it’s the basketball penalties,” Grousbeck said during a WEEI appearance when asked about the Celtics’ ability to remain well above the tax line (story via Brian Robb of MassLive.com). “The new CBA was designed by the league to stop teams from going crazy. They decided that it’s not good enough to go after the wallets because the fans can be like, ‘Hey find someone who can afford to spend $500 million dollars a year or whatever it is, like the English Premier League. I know seven guys who own Premier League teams in England with no spending caps and most of them don’t know what the hell is going on.”

“The basketball penalties mean that it’s even more of a premium now to have your basketball general manager be brilliant and lucky,” Grousbeck continued. “Because you have to navigate because you can’t stay in the second apron, nobody will, I predict, for the next 40 years of the CBA, no one is going to stay in the second apron more than two years.”

This is the second consecutive season the Celtics have been in second-apron territory, so Grousbeck’s comments about the sustainability of that approach are eyebrow-raising.

Of course, it’s worth noting that not all of the apron-related penalties had been implemented during the 2023/24 season, so a third season above the second apron might be more viable for the Celtics or another team in ’25/26 than it would be going forward. Still, based on Grousbeck’s remarks, it sounds like some cost-cutting could be in Boston’s future.

Here are a few more noteworthy comments from Grousbeck’s media appearances this week:

On how the Celtics, specifically, plan to navigate the second apron in the short term:
(via Robb)

“We have Brad Stevens, the reigning Executive of The Year, and thank God we do. He’s the one who really brought us this championship with his brilliant moves –along with many other people — but Brad is at the forefront. He’s looking at this and is going to extend our window and make it work. We’ll find out in June or July what we’re going to do.”

On what he told Stevens, head coach Joe Mazzulla, and stars Jayson Tatum and Jaylen Brown about the sale:
(via Sanjesh Singh of NBC Sports Boston)

“I’ve actually talked to Jayson, Jaylen, Joe and Brad and said, ‘Just so you know…these small group of finalists are all great and they can all do the job, and we won’t let it go to anybody who would fall short of that.’ I told them basically just a few days ago when I saw them all at practice, ‘It’s OK. Don’t put it on your mind. Take it off your mind if you can. Because we’ve got you, this is going to go fine.’

“They said, ‘We trust you.’ Jayson Tatum literally looked at me and said, “I trust you, Wyc. Got it.’ And with good reason, hopefully, that he trusts me. Everything’s good on that front.”

On what advice he has given to Chisholm:
(via Singh)

“Be yourself. You are a fan. The fans are going to love you. We’re not going to win every game together. They want to see that you care, that you’re a fan who bought the team. That’s our group here, we’re fans who bought this team. You’re a fan who’s buying in…we’re going to be fans who’s running this team for Celtic pride on and off the court…When you do that, everything else follows.”

On why there are no plans to build a new arena that the Celtics would own:
(via Robb of MassLive.com)

“It’s not broken over there, and we have a great partnership with (the Jacobs family, which owns the Boston Bruins and the TD Garden). Honestly, there’s room for one arena in Boston, not two. Because you need to have concerts and events to fill out the bill. And if we ever talked to the Jacobs, we all decided to renovate the Garden very seriously – there have been huge, hundreds of millions of dollars of renovations. But if we ever decide to do anything, I’m sure we’d do it together and have both teams playing there.

“It shouldn’t be on everybody’s mind. We’ve got a lease in the Garden until, like, the 2030s, and we’ve got a good partnership with them, and we’ll both upgrade whatever we need to do to keep the fans happy, because we’re fans ourselves.”

More Details On Celtics’ Impending Sale

March 20th, 2025 at 12:20pm CST by Rory Maher

In a press release via Business Wire, Boston Basketball Partners LLC officially confirmed that it has reached an agreement to sell its majority stake in the Celtics at a record valuation of $6.1 billion to a group led by William (Bill) Chisholm.

Other members of the new group include current minority owner Robert Hale, Bruce A. Beal Jr., and Sixth Street, a private equity firm.

Sixth Street, which also purchased a stake in the Spurs in 2021, will invest more than $1 billion in the Celtics, a source tells Mike Vorkunov, Jay King and Jared Weiss of The Athletic.

The impending sale still needs to be approved by the NBA’s Board of Governors. According to The Athletic’s trio, the transaction is expected to take a few months to be finalized.

“Bill is a terrific person and a true Celtics fan, born and raised here in the Boston area,” Wyc Grousbeck said. “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. I know he appreciates the importance of the Celtics and burns with a passion to win on the court while being totally committed to the community. Quite simply, he wants to be a great owner. He has asked me to run the team as CEO and Governor for the first three years, and stay on as his partner, and I am glad to do so.”

“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 his own statement. “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. I also understand that there is a responsibility as a leader of the organization to the people of Boston, and I am up for this challenge.

“My partners and I have immense respect for Wyc, the entire Grousbeck family and their indelible contributions to the Celtics organization over the last 23 years. We look forward to learning from Wyc and partnering with Brad Stevens, Joe Mazzulla and the talented team and staff to build upon their success as we work to bring more championships home to Boston.”

Stevens, Boston’s president of basketball operations, met with four prospective ownership groups in the month preceding the sale, sources tell The Athletic. A group led by another current minority owner, Steve Pagliuca, had been considered the frontrunner to purchase the team, per The Athletic’s report. However, Pagliuca released a statement (via Twitter) confirming his bid was unsuccessful.

“I recruited new partners with deep resources and expertise in technology and international markets to maximize the Celtics’ successes to ensure we can always compete for Championships, luxury taxes be damned,” Pagliuca said in part. “We made a fully guaranteed and financed offer at a record price, befitting the best sports fans in the world, and with all the capital coming from individuals who are fully committed to winning on and off the court.

“We had no debt or private equity money that would potentially hamstring our ability to compete in the future. We have felt it was the best offer for the Celtics. It is a bid of true fans, deeply connected to Boston’s community and we’ve been saddened to find out that we have not been selected in the process.”

Celtics’ Controlling Stake To Be Sold For $6.1 Billion

March 20th, 2025 at 9:20am CST by Dana Gauruder

9:37am: The new ownership group also includes minority owner Robert Hale, Himmelsbach tweets.

9:20am: The Celtics are being sold to William Chisholm for a valuation of $6.1 billion, a new record for a controlling stake in a North American sports franchise, Scott Soshnick of Sportico reports (via Twitter).

Chisholm is the managing director and co-founder of Symphony Technology Group, a California-based private equity firm, Adam Himmelsbach of the Boston Globe reports. Chisholm is a Massachusetts native and lifelong Celtics fan. His involvement in the bidding was first reported last week.

The Celtics’ sale of $6.1 billion surpasses the NFL’s Washington Commanders ($6.05 billion) for the highest sum ever for a North America sports team, ESPN’s Shams Charania tweets.

Celtics co-owner Wyc Grousbeck is expected to remain governor through the ownership transition. He’ll remain in that role, continuing to oversee the team’s operations, through the 2027/28 season, Mike Vorkunov of The Athletic tweets.

The Grousbeck family expected a handful of bids for the franchise during the sales process. The Grousbeck family announced last July 1 that it was putting the team up for sale, just a few weeks after the Celtics won their 18th championship.

The Grousbeck family said then that it intended to sell 51 percent of the team in late 2024 or early 2025. The Grousbeck family is selling the team for estate and family planning considerations.

The sales price is a huge jump from the amount paid by Grousbeck 20-plus years ago. Grousbeck founded and led the group, Boston Basketball Partners L.L.C., which bought the Celtics for $360MM in 2002.

Four Groups Identified As Bidders For Celtics

March 12th, 2025 at 2:51pm CST by Luke Adams

Four prospective ownership groups remain involved in bidding for the Celtics and have taken part in management presentations with the team, according to a report from Eben Novy-Williams and Scott Soshnick of Sportico.

Here are those four groups, per Sportico’s reporting:

Steve Pagliuca‘s group: Pagliuca is a current minority stakeholder in the Celtics who has expressed interest throughout the process in assuming majority control of the franchise. Sportico reported on Tuesday that he was a “near certainty” to be involved in the second round of bidding and was considered by some industry sources to be the frontrunner.
The Friedkin Group: Described by Sportico as “a privately held consortium based in Texas,” The Friedkin Group has holdings that include a pair of soccer clubs, AS Roma in Italy and Everton in the English Premier League. Dan Friedkin, the owner and CEO, is reportedly worth $7.5 billion.
Stan Middleman‘s group: Middleman, the president and CEO of Freedom Mortgage, bought a minority stake in MLB’s Philadelphia Phillies in 2023 and has explored pursuing majority control of other sports franchises, including the Cleveland Guardians and Washington Nationals, according to Sportico.
Bill Chisholm‘s group: Chisholm, whose involvement was first reported by Bloomberg, is the co-founder, managing partner, and chief investment officer of Symphony Technology Group, which manages about $10 billion in assets, per Sportico.

The Celtics’ majority ownership group first announced last July that it would be putting control of the franchise up for sale. The plan laid out at that time was to sell a majority share (ie. 51%) of the team in late 2024 or early 2025, with Celtics governor Wyc Grousbeck remaining in his current role until the balance of the sale is completed in 2028.

It’s unclear whether or not that’s still the plan, according to Novy-Williams and Soshnick, who note that the messiness of the Timberwolves’ ownership transfer prompted commissioner Adam Silver to suggest that the league may try to avoid sales that play out in multiple stages going forward.

The deadline for potential buyers to submit their initial offers was January 23. A second round of revised bids is reportedly due this Friday.

It’s not yet known whether the four groups involved in the process are fully funded or exactly how much they’re willing to offer for a controlling stake in the defending NBA champions, Novy-Williams and Soshnick write. During the site’s latest round of NBA franchise valuations, Sportico estimated that the Celtics are worth $5.66 billion.