Celtics Sold To Private Equity-Led Group For $6.1 Billion—Biggest Sports Sale In U.S. History

Forbes Daily Briefing

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🗓️ 21 March 2025

⏱️ 5 minutes

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Summary

A group led by investor Bill Chisholm and the private equity firm Sixth Street reached an agreement on Thursday to buy the NBA’s Boston Celtics at a $6.1 billion valuation.

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0:00.0	Here's your Forbes Daily Briefing for Friday, March 21st.
0:05.4	Today on Forbes, Celtics sold to private equity-led group for $6.1 billion, biggest sports sale in U.S. history.
0:15.1	A group led by investor Bill Chisholm and the private equity firm 6th Street reached an agreement on Thursday to buy the
0:22.0	NBA's Boston Celtics at a $6.1 billion valuation. The deal would mark the largest ever
0:28.2	sale for an American sports franchise, a massive price tag after the team's outgoing owner
0:33.5	acknowledged last year it was, quote, losing money.
0:43.2	Chisholm, a managing partner at Symphony Technology Group, and 6th Street, reached an agreement to buy most of the Celtics from a group led by father and son Irving and Wick Grousebeck
0:47.8	over two stages, according to the Grousebeck-led group. The deal includes backing from
0:53.3	billionaire Robert Hale,
0:55.1	who holds a minority stake in the Celtics, and Bruce Beale Jr., president of the real estate
1:00.2	firm related companies. Under the deal, Wick Grousebeck will remain the Celtics governor
1:05.7	through the 2027-28 NBA season. Forbes ranked the Celtics as the fourth most valuable NBA franchise in
1:14.0	2024, with an estimated valuation of about $6 billion. The price tag for the Celtics
1:20.2	eclipses a record set by private equity billionaire Josh Harris, who purchased the NFL's
1:25.3	Washington Commanders in a $6.05 billion deal in April
1:29.5	2023, with backing from billionaire Mitchell Rails and former NBA star Magic Johnson.
1:36.1	The Grousebeck-led Boston Basketball Partners announced in July 2024 the team was looking
1:41.8	to sell the Celtics, shortly after the franchise won its first
1:45.1	NBA championship since 2008. The decision was brought on by, quote, estate and family
1:51.1	planning considerations of the Grousebeck family, which took over the franchise in 2002.
1:57.1	The Celtics made it to the playoffs 19 times and won two championships during Boston Basketball
2:02.2	Partners tenure, though the franchise has signed high dollar player contracts in recent years
	...

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