Boston Celtics have been sold for a record-breaking $6.1 billion, making it the most expensive transaction in NBA and U.S. sports history, according to reports from media outlets such as AP and ESPN. The group of investors acquiring the Celtics is led by Bill Chisholm, co-founder of Symphony Technology Group (STG), a private equity firm specializing in technology.
The sale surpasses the previous record set in 2023 when the NFL’s Washington Commanders were acquired for $6.05 billion.
The deal was confirmed by current Celtics owner Wyc Grousbeck, who announced that the sale will take place in two phases: first, 51% of the team will change hands, and the remaining 49% will be transferred in 2028. During this time, Grousbeck will remain as the team’s governor.
Who is William Chisholm?
Bill Chisholm, whose full name is William Chisholm, is a high-profile investor and co-founder of Symphony Technology Group (STG), a private equity firm specializing in software and technology. Born and raised in Massachusetts, Chisholm has a strong connection to New England, making him a logical choice to lead the new ownership group of the Boston Celtics.
With a bachelor’s degree from Dartmouth College and an MBA from the Wharton School of Business, Chisholm has built his reputation in the financial world through investments in high-impact tech companies. His previous experience includes roles at Bain & Company and PaineWebber, which helped him develop a deep understanding of the investment and acquisitions market.
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What is Bill Chisholm’s net worth?
While Bill Chisholm’s exact net worth has not been publicly disclosed, it is estimated to be in the tens of millions of dollars, primarily derived from his role as managing partner at STG. The private equity firm he co-founded manages approximately $10 billion in assets and has been involved in the acquisition and transformation of several tech companies, including McAfee Enterprise and RSA Security.
Chisholm has accumulated wealth through successful investments and acquisitions that have resulted in the appreciation of key technology firms. His influence in the financial and technology sectors positions him as a key player in the world of private investments.
How did Bill Chisholm make his money?
William Chisholm generated most of his fortune through Symphony Technology Group, which has led strategic acquisitions and mergers in the software and technology sectors. His business approach focuses on transforming mid-sized companies into global leaders within their respective industries.
Some of the most notable investments he has led include:
- McAfee Enterprise and FireEye: Merged to create Trellix.
- RSA Security: Acquired and turned into an independent cybersecurity company.
- Avid Technology: Purchase of the audiovisual editing software company.
- Dynatrace: A company that went public with a valuation of over $6 billion.
These acquisitions have significantly contributed to his wealth growth and his reputation as a successful investor in the technology and digital security sectors.
How much did Bill Chisholm pay for the Boston Celtics?
The group led by Bill Chisholm agreed to buy the Boston Celtics for $6.1 billion, setting a record as the most expensive transaction in North American sports history. This purchase surpasses the 2023 sale of the Washington Commanders, which closed at $6.05 billion.
The transaction will take place in two stages, according to the wishes of current owner Wyc Grousbeck. In the first phase, Chisholm and his group will acquire 51% of the team, while the second phase, scheduled for 2028, will complete the ownership transfer. During this period, Grousbeck will continue serving as the franchise governor.
Who are the new Celtics owners alongside Bill Chisholm?
According to revealed information, the new ownership group of the Boston Celtics includes:
- Rob Hale: Current co-owner of the Celtics.
- Bruce Beal Jr.: President of Related Companies, a real estate firm.
- Sixth Street: A global investment firm with over $100 billion in assets under management.
This consortium consists of investors with expertise in technology, real estate, and sports, which could bring new growth opportunities for the Celtics franchise.
What impact will the purchase have on the Boston Celtics?
The acquisition of the Celtics by Bill Chisholm and his group could bring significant changes to the team’s management, although the franchise’s stability seems assured in the short term. With a competitive core consisting of stars like Jayson Tatum, Jaylen Brown, and Kristaps Porziņģis, the Celtics remain championship contenders in the NBA.
Financially, the NBA remains in a healthy state, with a $76 billion broadcasting contract signed with ESPN, NBC, and Amazon in 2024. Additionally, Forbes ranked the Celtics as the fourth most valuable NBA team in 2023, with an estimated value of $6 billion.
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