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.