American billionaire Bill Chisholm has agreed to buy powerhouse NBA franchise, Boston Celtics for about $6.1 billion.
Recently, the Celtics have had a good run, picking up their 18th NBA title in June last year over arch-rivals Los Angeles Lakers. They had beaten the Dallas Mavericks in five games during the finals.
They have maintained the record of being one of the most sustainable franchises in the NBA. So, it came as a shock when the current ownership group, Boston Basketball Partners, LLC, said they wanted to sell their controlling stake after twenty-two years of stability.
Co-owners Wyc Grousbeck and Steve Pagliuca bought the franchise back in 2002 for $360 million. Now, they are just happy to sell it to someone who would take good care of it.
“Bill is a terrific person and a true Celtics fan, born and raised here in the Boston area,” Grousbeck said.
“His love for the team and the city of Boston, along with his chemistry with the rest of the Celtics leadership, make him a natural choice to be the next Governor and controlling owner of the team. I know he appreciates the importance of the Celtics and burns with a passion to win on the court while being totally committed to the community. Quite simply, he wants to be a great owner.”
Chisholm has also confirmed the agreement for the controlling stake sale.
“Growing up on the North Shore and attending college in New England, I have been a die-hard Celtics fan my entire life,” Chisholm said in a 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.”
