Celtics Sell for $6.1 Billion

[Roy H.]

That sale figure is insane.

The new ownership group must know something that we the public do not. As a private equity firm, they only want financial returns (either short or long term).

The Boston Celtics obviously do not own their own arena, so unlike the Warriors ownership group, the Celtics cannot look to expand revenue streams.

Chisholm is the majority investor in the group buying the team is the way I read this. And while he's made his money in private equity, a private equity firm isn't buying the Celtics. So I don't think financial returns are the main objective, though these franchises all escalate in value it seems and with expansion around the corner that's not likely to change. 

I do think the key question is does he want to build an arena? And then, of course, where is the even bigger question - I strongly doubt it would be within the city of Boston, but who knows?

Per an Athletic article. a private equity firm is involved. 

Sixth Street, a private equity firm, is also buying a portion of the team and will put in more than $1 billion, an industry source said. The firm bought into the Spurs in 2021 and is now one of three firms with investments in multiple NBA franchises.

I was surprised to learn that the same firm can own parts of multiple teams.  I assume they must be walled off somehow from decisions related to the roster, etc. 

[tenn_smoothie]

Bet Red would have wanted Pags to have the team.
His comments sounded like his heart was broken. Sometimes, there are more important qualities to consider in our owner than their checkbook balance, especially for the Celtics, who remain at least still a little unique, in the NBA to my mind. I'm being nai've I know. Always the dollar.

This guy said a lot of perfect things, but let's hope he is not another John Y ...................

[ozgod]

As long as he maintains the level of investment necessary to maintain the standards of the team, not just at this time when luxury tax and payroll is high, but in other times, I will be happy. We're all on the outside looking in so we don't know what else he brings to the table other than the requisite investment. I doubt anyone spending $6.1m doesn't have the best interest of the team at heart though, and (AFAIK) unlike John Henry and Fenway Sports Group it's not like he has a portfolio of teams where his focus can get diluted.

He just needs to be supportive of his (very good) front office crew and leadership team and management/coaching staff, listen to Wyc for the next 3 years so he learns, and sign the checks when needed.

[ozgod]

That sale figure is insane.

The new ownership group must know something that we the public do not. As a private equity firm, they only want financial returns (either short or long term).

The Boston Celtics obviously do not own their own arena, so unlike the Warriors ownership group, the Celtics cannot look to expand revenue streams.

Chisholm is the majority investor in the group buying the team is the way I read this. And while he's made his money in private equity, a private equity firm isn't buying the Celtics. So I don't think financial returns are the main objective, though these franchises all escalate in value it seems and with expansion around the corner that's not likely to change. 

I do think the key question is does he want to build an arena? And then, of course, where is the even bigger question - I strongly doubt it would be within the city of Boston, but who knows?

I don't believe that's in the short term horizon.

The Celtics lease TD Garden from Delaware North, the Jacobs family-led group that also owns the Bruins. There have been suggestions that a new owner could look to build a new arena for the Celtics.

When asked about that possibility Thursday, Chisholm said he had thoughts about the situation but deferred to Grousbeck, who pointed out that the current lease runs through the 2035-36 season.

?We?ll always do something together with [Delaware North], I would predict, and it?ll be renovating the Garden together with them overall, as we?ve done for many years together,? Grousbeck said. ?We?ve each chipped into that. It?s really a partnership in that regard. That?s going to continue into the 2030s, and then we?ll probably both look and see what we should do.?

https://www.bostonglobe.com/2025/03/20/sports/boston-celtics-team-sale-william-chisholm/

[MattyIce]

Pags? statement on the sale. I feel bad for him and his group. A poster said maybe there?s a rift between him and Wyc, which might be a factor in not giving his group the winning bid.

https://www.reddit.com/r/bostonceltics/comments/1jfqusu/steve_pagliucas_statement_on_the_celtics/

I don't think there's a rift.  There's been a lot of speculation about why Pags didn't get the team.  It's probably as simple as money.  A split valuation of $6.1 billion now, $7.3 billion in stage two is pretty wild.  I doubt Pags could beat it.

I?m not saying theres a ?rift? but there is definitely something off between the two imho, the way they interact on the court (at games) and off (at functions..weddings/birthday parties etcetera) is for a lack of better word, strange for two co owners.  I guess another word is ?cold? unless they are the center of attention together?.or at minimum cooler than you?d expect.

I wanted Pags to get it as well, but hardly surprised.

[trickybilly]

I have a question. So next year's entire roster if kept 100% will be a 500M payroll. Will it go down the year after that since KP's deal is off the books and so is Horford? Or is it like 500M next year, and still a very high number the following year?

I know I know, 500M for one year is a ton, but could they theoretically be fine paying it for a year if they know for sure it'll go down in 2027, and then by then Horford retires, the cap rises, maybe KP re-signs on a much cheaper deal and you can slot in guys like Scheierman into the lineup?

I mean Phoenix is paying about 410M for this season's roster (roster + luxury tax)

Ultimately I do think Jrue gets traded either this offseason or next regardless. I would hope they can keep everyone else though (The Jays, White, KP, PP)

Have a look at Spotrac

[celticinorlando]

If you have 6. billion to by the team....you have enough to keep the  title window open.

Also...time to build the Cs their own arena.

[boscel33]

If you have 6. billion to by the team....you have enough to keep the  title window open.

Also...time to build the Cs their own arena.

I said this years ago.  I was able to ask someone from the C's directly, maybe Wyc himself, when I called into 1510 the Zone.  Hey, I got free tickets to a game too though.  LOL

[aefgogreen]

Bet Red would have wanted Pags to have the team.
His comments sounded like his heart was broken. Sometimes, there are more important qualities to consider in our owner than their checkbook balance, especially for the Celtics, who remain at least still a little unique, in the NBA to my mind. I'm being nai've I know. Always the dollar.

This guy said a lot of perfect things, but let's hope he is not another John Y ...................

I think if you own something you are looking to sell, you're going to choose the highest bidder. 

[Roy H.]

It's weird that there aren't a lot of estimates of Chisolm's net worth out there.  For an owner of a "crown jewel" franchise, that seems strange to me.

Of course, that stuff isn't always clear.  For a very long time, people assumed Wyc was the primary owner of the team, rather than his father.  Also, the internet would have us believe that Wyc's net worth hadn't changed in a decade, making him one of America's worst businessmen despite being in charge of a $6 billion asset.

[aefgogreen]

It's weird that there aren't a lot of estimates of Chisolm's net worth out there.  For an owner of a "crown jewel" franchise, that seems strange to me.

Of course, that stuff isn't always clear.  For a very long time, people assumed Wyc was the primary owner of the team, rather than his father.  Also, the internet would have us believe that Wyc's net worth hadn't changed in a decade, making him one of America's worst businessmen despite being in charge of a $6 billion asset.

I've seen very little information on him at all.

[tenn_smoothie]

That sale figure is insane.

The new ownership group must know something that we the public do not. As a private equity firm, they only want financial returns (either short or long term).

The Boston Celtics obviously do not own their own arena, so unlike the Warriors ownership group, the Celtics cannot look to expand revenue streams.

Chisholm is the majority investor in the group buying the team is the way I read this. And while he's made his money in private equity, a private equity firm isn't buying the Celtics. So I don't think financial returns are the main objective, though these franchises all escalate in value it seems and with expansion around the corner that's not likely to change. 

I do think the key question is does he want to build an arena? And then, of course, where is the even bigger question - I strongly doubt it would be within the city of Boston, but who knows?

Tear down whatever now sits on the site of the old Garden and build a new Boston Garden within inches of the TD Garden. 

[Donoghus]

I said it awhile back but the time to have built a new arena in the city would've been in the late 2000s/early 2010s when the Seaport started getting built up. 

I'm not sure where in the city they could build the thing now.

[bdm860]

Bet Red would have wanted Pags to have the team.
His comments sounded like his heart was broken. Sometimes, there are more important qualities to consider in our owner than their checkbook balance, especially for the Celtics, who remain at least still a little unique, in the NBA to my mind. I'm being nai've I know. Always the dollar.

This guy said a lot of perfect things, but let's hope he is not another John Y ...................

I wonder how close Pags's offer was, and if there was any type of bidding war, or was it just best and final right out the gate?

Part of Pags's statement after losing out was: "we made a fully guaranteed and financed offer at a record price." Washington Commanders sold for $6.05b so if that's the record Pags was referring to then the offer seems like it would have been pretty close to Chisolm's, at least on the surface. Of course he could also be referring to a record for NBA franchises, which has a much lower bar of only $4b (Phoenix Suns).

[Celtics2021]

I said it awhile back but the time to have built a new arena in the city would've been in the late 2000s/early 2010s when the Seaport started getting built up. 

I'm not sure where in the city they could build the thing now.

I wonder if they could put together enough parcels of land near the new East Somerville stop, in the Lechmere direction.  There is a fair amount of industrial/storage use land there that is screaming to be redeveloped, there is T access, it?s not far from 93, and there are multiple commuter rail lines that converge there on their way into North Station so you could put in a new stop.  Probably not, of course, but I?m surprised how little development has occurred there compared to Union Square and Lechmere, which are each under a mile away.