Summarize this content to 2000 words in 6 paragraphs Majority ownership of the Boston Celtics franchise was reportedly sold for a sports team-record $6.1 billion on Thursday.BREAKING: Bill Chisholm, managing partner at Symphony Technology Group, has agreed to purchase the Boston Celtics from the Grousbeck family for a valuation for $6.1 billion, sources tell ESPN. This now is the largest sale for a sports franchise in North America. pic.twitter.com/iPphqSQswe— Shams Charania (@ShamsCharania) March 20, 2025
An ownership group fronted by William (Bill) Chisholm, the co-founder and managing partner of the California-based private equity firm Symphony Technology Group, procured the stake from the Grousbeck family.More Boston Celtics News: Boston Celtics Officially Have New Owner in Historic $6.1 Billion SaleWyc Grousbeck, son of family steward Irv Grousbeck, is reportedly set to remain in his current role as team CEO and governor through 2027-28, after which Chisholm will take over.The deal could have some major ripple effects for the NBA, specifically the future of its league expansion plans, opines Tim Booth of The Seattle Times.
Per Booth, Seattle Kraken majority owner Samantha Holloway released a statement following news of the sale, hinting that her ownership group was interested in getting into the bidding to bring the Seattle SuperSonics back to town.More Boston Celtics: Recent Jaylen Brown Trade Rumors Hit Different Following Celtics SaleThe team was moved to Oklahoma City ahead of the 2008-09 season and renamed the Oklahoma City Thunder, but rumors have circulated ever since that the NBA was looking to add two expansion clubs to its 30-team league, with Seattle and Las Vegas frequently cited as top contenders for the opportunity.
A towel with the Boston Celtics logo lays on a chair before Game Five of the Eastern Conference Second Round Playoffs at TD Garden against the Cleveland Cavaliers on May 15, 2024 in Boston, Massachusetts….
A towel with the Boston Celtics logo lays on a chair before Game Five of the Eastern Conference Second Round Playoffs at TD Garden against the Cleveland Cavaliers on May 15, 2024 in Boston, Massachusetts. Boston recently waived an intriguing veteran player.
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“We understand that today’s news will pique the interest of NBA fans in Seattle,” Holloway said. “As we have said before, our ownership group is ideally positioned for an NBA team with Climate Pledge Arena and the incredible fans in Seattle, but we will always be respectful of the Commissioner’s process and timeline.”Booth wonders how the sale of the Celtics will affect the timing of the long-rumored league expansion, and whether Seattle and Las Vegas were certified shoo-ins or if other cities would be on the table.The new Celtics ownership group’s winning bid did not include a purchase of Boston’s home arena, TD Garden. Booth suggests that, thanks to this $6.1 billion sticker tag, an expansion fee for a new franchise would probably start around the $5 billion mark.Holloway’s father, David Bonderman, is currently a minority owner of the Celtics franchise, although this forthcoming sale should divest the family from any potential conflicts of interest when it comes to franchise ownership.More Boston Celtics News:Celtics Stars Pranked Into (Almost) Signing Jerseys for NCAA RivalsGetting to Know New Boston Celtics Owner Bill ChisholmInsider Proposes Celtics Trade All-Star to Save MoneyFor more on the Celtics and the NBA at large, head to Newsweek Sports.
