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Direct Investment  + Alternative Assets  + M&As  + Private Equity  |  March 20, 2025
Boston Celtics Sold for Record $6.1B to Chisholm-Led Investor Group
By: Joe Palmisano

Boston Celtics Sold for Record $6.1B to Chisholm-Led Investor Group 

A consortium led by William Chisholm, managing partner of Symphony Technology Group, and backed by private equity powerhouse Sixth Street, has struck a deal to purchase the Boston Celtics for a record-breaking $6.1 billion.  

The transaction eclipses the prior North American sports franchise high of $6.05 billion, set by the NFL’s Washington Commanders sale in 2023, and stands as the most expensive NBA team acquisition to date.  

The purchase will unfold in two stages, mirroring the Grousbeck family’s exit strategy. Sixth Street is injecting over $1 billion in equity, joined by current Celtics investor Rob Hale and Bruce A. Beal Jr., president of Related Companies. Pending approval from the NBA Board of Governors, the deal highlights the surging valuations of elite sports franchises, bolstered by the Celtics’ 18th championship win in June 2024. 

Sixth Street, managing over $100 billion in assets, is deepening its sports portfolio with this move. Beyond its Giants LP fund, the firm owns Legends (a sports hospitality company) and NWSL’s Bay FC, while holding minority stakes in the San Antonio Spurs, Real Madrid, and FC Barcelona. Its commitment to the Celtics deal amplifies its influence on high-stakes sports investments. The investor group is rounded out by Hale and Beal, blending continuity with fresh capital. 

Meanwhile, private equity’s role in sports is expanding. The $10 billion Kentucky County Employees’ Retirement System recently invested $70 million in Arctos Partners’ Arctos American Football Fund, targeting NFL team stakes—a move enabled by the NFL’s 2024 rule change allowing private equity firms like Ares Management and Sixth Street Partners to acquire up to 10% of franchises. This convergence of institutional and private equity interest underscores a broader trend of alternative investments gaining traction. 

BDT & MSD Partners, J.P. Morgan and the Jordan Park Group are acting as financial advisors. Cooley LLP is serving as legal counsel to the Grousbeck family and Gunderson Dettmer is representing the Boston Celtics. Goldman Sachs & Co. LLC is acting as exclusive financial advisor and Wachtell, Lipton, Rosen & Katz is serving as legal counsel to the investor group. 

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.