The Grousbeck family stunned the basketball world on Thursday when it was officially announced that they had has sold their majority stake in the Boston Celtics for a record $6.1 billion. The Grousbecks have owned the franchise since 2002, and have stewarded the club through four NBA Finals berths and two championships in that time.
The NBA’s winningest franchise will now fall under the purview of businessman William (Bill) Chisholm, per Scott Soshnick of Sporitco.
hisholm, who was raised in Massachusetts and grew up a Celtics superfan, currently serves as the managing director of his California-based private equity firm Symphony Technology Group, per Adam Himmelsbach of The Boston Globe.ccording to The Athletic’s Mike Vorkunov, Wyc Grousbeck — son of fellow co-owner Irv — will “continue to oversee team operations” and stay on as Boston’s governor and CEO through 2027-28. In fairness, former Dallas Mavericks majority owner Mark Cuban was also expected to remain as his team’s lead decision-maker when he first sold the franchise to the Adelson and Dumont families last year.
By the time the Mavericks were trading 26-year-old All-NBA superstar guard Luka Doncic to the Los Angeles Lakers for a fairly paltry sum in Feb., Cuban was compelled to explain that he did not have anything to do with that franchise-altering move.
Boston Basketball Partners LLC, the grup fronted by Chisholm, announced the purchase in a Business Wire press release.
“Growing up on the North Shore and attending college in New England, I have been a die-hard Celtics fan my entire life,” Chisholm was quoted as saying in that press statement. “I understand how important the Celtics are to the city of Boston – the role the team plays in the community is different than any other city in the country. I also understand that there is a responsibility as a leader of the organization to the people of Boston, and I am up for this challenge.”