New Boston Celtics owner solves NBA rule issue, will finalize sale (report)

The Celtics $6.1 billion sale to lead owner Bill Chisholm and his group is expected to be finalized within the next week according to a new report from Front Office Sports.

Chisholm was reportedly seeking out additional investors for his group as recently as the past week. However, FOS reports that Chisholm has found enough investors for his group to complete the purchase and is even “oversubscribed” per two sources.

Chisholm has also secured the necessary funding to ensure the deal will be compliant with NBA private-equity rules. A global investment firm named Sixth Street will be an investor in the deal but was not allowed to be the largest stakeholder per league rules. It’s unclear just how big of a stake Chisholm will have in the team, but he must purchase at least 15 percent of the $6.1 billion price tag per league rules.

Current Celtics minority co-owner Robert Hale, Bruce A. Beal Jr. and Sixth Street are other known investors in the purchase alongside Chisholm.

Celtics governor Wyc Grousbeck hinted last month in an interview with WBZ that the team’s sale process was going smoothly.

“I think this can be a really positive transformation,” Grousbeck said. “It’s going to happen this summer, but it’s definitely going to happen. I think we’re oversubscribed. We have more capital coming in than we even have room for. Appreciation to those people who are believing. A lot of former partners are coming in now, which is a new change, and that’s great.

“So it’s the old and the new mixing in together. But there’s new energy and there’s new excitement. We’ve been in 22 years, my group, and now most of us are going to be in going forward, including me. I’m doubling down on all my stuff and putting everything I’ve got in to stay for a while. It’s really exciting. There’s a new vibe. They don’t want to change anything. They want it to be just the way it’s been.”

Chisholm’s group will ultimately take a controlling stake in the franchise if the deal is approved by the league in the first part of a two-part sale, with 51 percent occurring this summer. Current governor Wyc Grousbeck is expected to remain in his current role until the close of the sale in 2028.

The NBA board of governors is expected to vote on the deal in June for final approval.

More Celtics content

• Jrue Holiday injury: Boston Celtics coach gives update before Knicks series
• Boston Celtics battling unique challenge with Knicks in playoffs
• 4 key things to know as Boston Celtics face Knicks in 2nd round
• Why Celtics should be disappointed with Western Conference playoffs