Connect with us

    Hi, what are you looking for?

    Sports

    Billionaire businessman, Bill Chisholm officially takes over basketball club Boston Celtics in $6.1bn deal

    National Basketball Association aka NBA has approved the sale of the Boston Celtics to an investment group led by American billionaire businessman, Bill Chisholm, five months after the record $6.1 billion deal was agreed.

    “The NBA Board of Governors has unanimously approved the sale of the controlling interests in the Boston Celtics to an investor group led by Bill Chisholm,” the league announced. “The transaction is expected to close shortly.”

    Chisholm, managing director and co-founder of Symphony Technology Group, made the purchase alongside co-investors at an initial valuation of $6.1 billion — the highest ever for a North American sports team at the time. That figure has since been surpassed by the $10 billion sale of the Los Angeles Lakers to billionaire Mark Walter.

    When the sale was first announced, Wyc Grousbeck was expected to remain CEO and governor of the franchise through the 2027-28 season. However, reports indicate Chisholm will assume the governor role since Grousbeck will no longer meet the league’s 15% ownership requirement.

    Despite this, Chisholm — a Massachusetts native and lifelong Celtics fan, and Grousbeck are expected to continue running the team together as initially planned.

    The Celtics, one of the NBA’s most iconic franchises, hold a record 18 championships, with their most recent title won in 2024.

    Spread the love
    Click to comment

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    ad

    You May Also Like

    E-Financial

    Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has confirmed that 14 Nigerian banks have fully met the new capital requirements set...

    E-Financial

    Polaris Bank, Nigeria’s leading digital retail, and commercial bank, on Tuesday hosted corporate customers in the non-oil sector at its Global Trade Forum. The...

    News

    Bill Gates, Chair of the Bill & Melinda Gates Foundation, has called on global leaders to make bold choices that could save millions of...

    News

    President Bola Tinubu has declared Nigeria’s ambition to host the 2030 Commonwealth Games a “dream” that must be realised, urging the international sporting body...