Boston Celtics Secured by New Owners for $6.1 Billion
After 23 years, the basketball powerhouse from Massachusetts has new ownership. The Boston Celtics will now be under the management of the Symphony Technology Group, moving on from the Grusbeck family.
According to Shams Charania, a prominent NBA journalist at ESPN, William Chisom, the general partner of the firm, has finalized an agreement to acquire the Boston Celtics for an estimated price of $6.1 billion.
This transaction is reported to be the largest sale of a sports franchise in North America, exceeding the sale price of the NFL’s Washington Commanders, which was sold for $6.05 billion in 2023.
Under the stewardship of the Grusbeck family, the Celtics clinched the championship title twice, in 2008 and 2024.
Vic Grusbeck and his associate Steve Pagliuca spearheaded the consortium that acquired the Celtics in 2002 for $360 million.
The Grusbeck family revealed last June their plans to sell a majority stake in the Celtics by 2024 or 2025, with the completion of the remaining transaction slated for 2028. They also mentioned that they anticipate Vik Grusbeck will remain with the team until the final sale is concluded in 2028.
The Symphony Technology Group, now at the helm of this iconic franchise, is an American private investment firm based in California. William Chisom, who founded the firm in 2002, serves as its chief investment officer.
The Celtics are among the giants of American sports, boasting 18 NBA championships. Only the New York Yankees (27 titles) and the Montreal Canadiens (24 titles) have more championships to their name.
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