By now, you’ve likely heard about William Chisholm a lifelong Boston Celtics supporter who struck a deal in mid-March to acquire the team from the Grousbeck family. Although Chisholm is the public face of the new ownership group, he’s not the only one committing substantial resources to the franchise.
Aditya Mittal, CEO of steel powerhouse ArcelorMittal, has pledged a $1 billion investment toward the Celtics’ purchase, according to Sportico. Mittal is expected to become the second-largest investor in the group.
Chisholm remains the leading stakeholder, having agreed to buy the team for a record-setting $6.1 billion — the highest price ever paid for a North American sports franchise. At the time of the deal, funding had not yet been fully secured, but Chisholm’s dedication to the acquisition was clear. “He seems like a great person and super excited about the Cs,” Celtics executive Brad Stevens said after the announcement. “He’s always been a big fan.”
In recent months, Chisholm’s group has made significant progress toward covering the purchase price. In addition to Mittal’s $1 billion commitment, private equity firm Sixth Street — which also has a stake in the San Antonio Spurs — is expected to acquire about 12.5% of the Celtics.
Who is Aditya Mittal?
Aditya Mittal, who may become the Celtics’ second-largest stakeholder, hails from one of India’s wealthiest families. Based in London, he earned his degree from the University of Pennsylvania’s Wharton School. He is the son of Lakshmi Mittal, executive chairman of ArcelorMittal, the world’s largest steel and mining company, which brings in roughly $68 billion annually. Bloomberg pegs Aditya’s net worth at $23.9 billion.
“Aditya has been a longtime fan of the Boston Celtics,” a spokesperson told Sportico. “When Wyc and Bill approached him, he viewed it as an exciting opportunity to contribute to such an iconic team. While he continues to focus on ArcelorMittal, he’s also enthusiastic about supporting the Celtics going forward.”
Other members of the ownership group include Rob Hale, a current investor in the team, and Bruce A. Beal Jr., president of Related Companies. Further details about the ownership group have not yet been disclosed.
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