The NBA on Wednesday authorized the sale of the Boston Celtics to an funding group led by Invoice Chisholm, 5 months after the deal price a then-record $6.1 billion was agreed.
“The NBA Board of Governors has unanimously authorized the sale of the controlling pursuits within the Boston Celtics to an investor group led by Invoice Chisholm,” the league stated in a quick assertion.
“The transaction is anticipated to shut shortly.”
Chisholm is the managing director and co-founder of Symphony Expertise Group. When he and his co-investors agreed to buy the storied Celtics franchise “at an preliminary valuation of $6.1 billion,” that was the best ever provided for a North American sports activities workforce.
It has since been surpassed by the $10 billion sale, in June, of the Los Angeles Lakers by the Buss household to billionaire Mark Walter.
When the Celtics sale was introduced, it was said that Wyc Grousbeck would proceed in his roles of chief government officer and governor, overseeing workforce operations by the 2027-28 season.
The Grousbeck household and Steve Pagliuca bought the Celtics for $360 million in 2002.
However US media reported this week that Chisholm — a Massachusetts native who calls himself a “die-hard Celtics fan” — will assume the function of governor as a result of underneath the phrases of the deal, Grousbeck will not have the required 15% possession stake the league requires to carry that function.
Nonetheless, ESPN reported that Chisholm and Grousbeck “plan to run the workforce collectively as initially deliberate.”
The Celtics are one of the vital storied within the NBA’s historical past, with a document 18 championships, the latest in 2024. — Agence France-Presse
