NBA formally approves Celtics to sell Trail Blazers

NBA board of directors today unanimously approved the sale of the Boston Celtics to a consortium led by private equity giant Bill Chisholm, a deal that valued the team more than $6.1 billion, the highest ever sold price for professional sports teams in the U.S. The

alliance said the deal is expected to be completed soon. After the deal is completed, Chisom will own at least 51% of the team and will gain full control of the team in 2028 at a total price of $7.3 billion.

Previously, the highest price of a US sports franchise was $6.05 billion from the 2023 NFL Washington Commanders. The highest price for NBA teams is the $4 billion paid by mortgage company owner Mat Ishbia for the Phoenix Suns in 2023.

Chisom is a Massachusetts native and a graduate of Dartmouth College and the University of Pennsylvania Wharton. He is a managing partner at California-based Symphony Technology Group. The new ownership group also includes Boston businessman Rob Hale, who is currently a shareholder of the Celtics, and Bruce Beal Jr. The consortium led by Wyc Grousbeck bought the team for $360 million in 2002 and led the team to win the NBA championship in 2008 and 2024. The team has 18 NBA championships, a record that no one can match.

Chisom beat at least two other consortiums, one of which was led by former Celtic minority shareholder Steve Pagliuca. Paliaca has announced plans to acquire the WNBA's Connecticut Suns for $325 million and move it to Boston, but the sale and potential relocation will require approval from the WNBA board of directors. The Trail Blazers found a buyer, and the $4 billion NHL Carolina Hurricanes owner Tom Dundon agreed to acquire the Portland Trail Blazers from Paul G. Allen at a valuation of just over $4 billion, a deal that sources confirmed to ESPN on Wednesday. The Trail Blazers officially announced their sale in May, and the proceeds from the sale will be used for charity.

Allen died of cancer in 2018 and his will demanded that the team be sold "at some point." Ever since, Allen's sister Jody Allen has served as the team's chairman and executive of Paul Allen Trust.

The Lakers changed hands with 10 billion yuan, Trail Blazers 40 and Green Kai 6.1 billion yuan, I wonder who will be next? Will the Thunder cash out at a high position or the Rockets win the championship?