Ownership Transition for the Boston Celtics
In a significant shift for the Boston Celtics franchise, Bill Chisholm has officially taken ownership, promising continuity and a commitment to winning. Chisholm, who hails from Massachusetts and built his fortune in private equity, leads an investment group that acquired the Celtics for a staggering $6.1 billion, a historic figure for American sports. This deal, which was unanimously approved by the NBA last month, reveals Chisholm’s deep-seated passion for the team he grew up idolizing.
“The Celtics have brought me joy my entire life,”
he expressed during a news conference alongside former lead owner Wyc Grousbeck and current team executives Rich Gotham and Brad Stevens.
Commitment to Success
Chisholm emphasized his dedication to maintaining the franchise’s successful trajectory established by Grousbeck and his partners, who took ownership in 2002 for $360 million. Under their stewardship, the Celtics not only captured two NBA championships but also reached the playoffs in 20 out of 23 seasons, including their most recent title in 2024, driven by stars like Jayson Tatum and Jaylen Brown.
Grousbeck will remain with the team for five years as CEO, indicating his intention to continue contributing to the Celtics’ success, albeit in a slightly reduced role as his ownership stake falls below the 15% needed to act as the primary local governor for league matters.
“There’s a governor, and the governor has the final say, and that’s me,”
Chisholm made it clear he will be the decision-maker moving forward.
Future Aspirations
Beyond focusing on the Celtics, he expressed interest in possibly bringing a WNBA team to Boston, alluding to discussions about the Connecticut Sun being an option for relocation, though the NBA has prioritized other markets for expansion.
“Philosophically, it makes so much sense to have a WNBA team here,”
he noted.
The new owner is also keen on the Celtics’ current home at TD Garden, indicating no plans for relocation as he believes both the Celtics and the Bruins, who share the venue, are well-positioned there. Chisholm’s comments echoed sentiments shared by Aditya Mittal, a prominent businessman and Celtics supporter, who reminisced about the enchantment of attending a game at the old Boston Garden during the 1980s.
Challenges Ahead
However, obstacles lie ahead for Chisholm and the organization, particularly regarding the impending challenges tied to the NBA’s salary cap structure. Recently, the team lost its key players, Jrue Holiday and Kristaps Porzingis, in trades necessary to sidestep punitive salary tax penalties. Despite this tumultuous time, with Tatum recovering from surgery after a significant injury during the last playoffs, Chisholm reassured fans, stating,
“Whatever the Boston Celtics need me to do, I will do whatever it takes to win championships.”
With many members of the previous ownership group staying on, including Stevens, Gotham, and head coach Joe Mazzulla, the Celtics’ core leadership remains intact, signaling stability in a pivotal moment for the franchise.
