Photo: Chris Fama/ WBZ NewsRadio
BOSTON (WBZ NewsRadio) — The Boston Celtics have a new majority owner.
A group led by private equity executive Bill Chisholm officially took control of the team on Tuesday. The group bought the NBA's most decorated franchise for $6.1 billion dollars from a group led by Wyc Grousbeck. The deal set a new record price tag for an American professional sports team.
Chisholm, a Massachusetts native, called the deal a "dream come true."
"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," Chisholm said.
The deal, which was reached in March, originally called for Grousbeck to stay on as governor, but it was later announced that Chisholm would take on the role instead. Grousbeck will stay on as CEO and serve as an alternate governor alongside Aditya Mittal.
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“The Celtics have been my life’s work for the past 23 years," Grousbeck 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.”
Grousbeck's ownership group bought the Celtics for $360 million in 2002. The deal finalized Tuesday gives Chisholm a majority stake in the team, but he is expected to take full control by 2028.