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[Saba Sports News] A new ownership group is set to take over the Boston Celtics—at a price that just made history.
Billionaire Bill Chisholm, managing partner at Symphony Technology Group, has agreed to purchase a majority stake in the Celtics from the Grousbeck family, valuing the team at a whopping 6.1 billion.
That figure sets a new record for a North American sports franchise, edging out the $6.05 billion valuation of the Washington Commanders when they were sold in 2023. It also dwarfs the $4 billion Mat Ishbia paid for the Phoenix Suns.
NBA owners are undoubtedly thrilled with the Celtics’ valuation—especially considering the team doesn’t even own its home arena.
The news instantly sparked fan chatter about what franchises like the Lakers or Warriors could be worth if they ever hit the market. And with good reason: CNBC recently ranked the Celtics seventh in franchise value, behind teams like the Warriors ($9.4B), Knicks ($7.5B), Lakers ($7B), Bulls, Rockets, and Nets.
Despite the sale, it’ll be business as usual in Boston—at least for now. Wyc Grousbeck, who led the group that bought the Celtics in 2002, will stay on as CEO and Governor for the next three years before transitioning to a partner role under the new ownership.
Grousbeck announced his plans to sell the team shortly after the Celtics captured their record-setting 18th NBA title this past summer.