Bill Chisholm is now the owner of the Boston Celtics, the team announced on Tuesday morning. Chisholm, a longtime Celtics fan with professional roots in private equity, reportedly agreed to a deal to purchase the team last March that was approved by the NBA’s Board of Governors last week.
Now — more than a year after the Celtics first announced they were up for sale — the ownership transition is official. The new investor group, led by Chisholm, also includes longtime Celtics owners Wyc Grousbeck and Rob Hale, as well as Aditya Mittal, Bruce Beal, Andrew Bialecki, Dom Ferrante, Mario Ho, Ian Loring, and global investment firm Sixth Street. The team was purchased for a historic $6.1 billion, and $1 billion of that amount comes in the form of an investment from Mittal, the CEO of a steel giant, per Sportico.
In an official press release, the Celtics detailed the team’s new ownership structure. As reported by ESPN’s Ramona Shelbourne last week, Chisholm will serve as Governor, though the plan was initially for Wyc Grousbeck to hold the position for the next three years. Grousbeck and Mittal will serve as Alternate Governors. Grousbeck will also serve as CEO and run day-to-day operations alongside Chisholm.
“This truly is a dream come true for me and my family,” Chisholm said in an official statement. “I feel so fortunate to be here as part of this new investor group, who are accomplished, driven people who care deeply about the Celtics and the Boston community. On behalf of our group, I am thrilled to partner with Wyc, Brad Stevens and Rich Gotham to move this outstanding organization forward. We are committed to building on the legacy of the Celtics and raising banners, and I can’t wait for the team to get back out there this fall.”
Grousbeck, who served as the face of the ownership group over the last two decades, expressed his excitement in an official press release.
“The Celtics have been my life’s work for the past 23 years,” he said. “This incredible ride is now continuing. I am fired up to be shoulder to shoulder with Bill as we pull every lever to go after another banner. There is nothing better than winning.”
A closer look at the new Celtics ownership group
The Celtics listed ten stakeholders in their official press release:
Bill Chisholm: Chisholm will serve as the investor group’s top stakeholder. A lifelong Celtics fan, Chisholm is the managing partner of private equity firm STG Partners.
Forbes Billionaire rank: 1242
Forbes Net Worth: $3.2 billion
Wyc Grousbeck: Grousbeck has served as one of the Celtics’ owners for the last 23 years. He is the son of Irv Grousbeck, who founded Continental Cablevision, which became a major cable television provider.
Family’s Forbes Billionaire rank: 1720
Family’s Forbes Net Worth: $2.2 billion
Aditya Mittal: Mittal is a member of one of India’s wealthiest families and is the CEO of steel giant ArcelorMittal. He is reportedly investing $1 billion in the team, per Sportico.
Bruce Beal: Beal is a Boston native and has a minority stake in the Miami Dolphins. He is the president of Related Beal, a real estate firm focused on development and investment opportunities in Boston and the surrounding area.
Forbes Billionaire rank: 3010
Forbes Net Worth: $1.1 billion
Andrew Bialecki: Bialecki is the cofounder and CEO of Klaviyo, which sells marketing automation software.
Forbes Billionaire rank: 1248
Forbes Net Worth: $3.2 billion
Dom Ferrante: Ferrante is the managing partner of the Ferrante group, a Florida-based private equity firm. He was previously a managing director of Bain Capital.
Rob Hale: Hale first joined the Celtics investor group in 2012 and is the founder and CEO of Granite Telecommunications, a wholesale telecommunications provider based in Quincy, Massachusetts. He is a resident of Hingham and is one of the few carryovers from the previous ownership groups.
Forbes Billionaire rank: 638
Forbes Net Worth: $5.8 billion
Mario Ho: Ho is the founder of an esports company and the youngest founder of a Nasdaq-listed company in Asia. He is the son of casino tycoon Stanley Ho.
Ian Loring: Loring is the senior managing director of Haveli Investments, a Texas-based private equity firm focused on technology and gaming. He was previously a managing director at Bain Capital.
Sixth Street: It was previously reported that Sixth Street, a global investment firm, is expected to own around 12.5% of the Celtics. The equity giant also owns a stake in the San Antonio Spurs.
