After the Boston Celtics secured their 18th championship last year, team owner Wyc Grousbeck announced his decision to sell his majority stake. Months later, after little public update, it was revealed that Bill Chisholm, co-founder of Symphony Technology Group, had purchased the team for a record $6.1 billion. A lifelong Celtics fan from Georgetown, Massachusetts, Chisholm has been vocal about his enthusiasm, making appearances on NBC Sports Boston and even during a Celtics game broadcast.
However, there may be a complication with the sale. According to Dan Primack of ‘Axios’, Chisholm’s purchase could violate NBA ownership rules. Sources indicate that Sixth Street Partners, a private equity firm involved in the deal, may have contributed more funding than Chisholm himself. Under NBA regulations established in 2021, a private equity firm’s stake cannot exceed 20% or be greater than that of the controlling owner, who must hold at least 15%.
To resolve this, Chisholm has two potential options. One is to bring in additional investors, reducing Sixth Street’s financial role so that it no longer holds a larger stake than he does. The other is to seek a waiver from the NBA, banking on the likelihood that owners won’t reject such a high-priced sale.
While a resolution seems likely, the sale remains at risk unless Chisholm addresses the issue. This unexpected hurdle adds a layer of drama to the Celtics’ ownership transition.
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