Boston Celtics to be sold in record-breaking £4.7bn deal

The biggest deal in North American sports history will see the Boston Celtics sold for $6.1bn (£4.7bn), according to ESPN.

Managing partner at Symphony Technology Group Bill Chisholm, a life-long Celtics fan from the Boston area, has agreed to buy the NBA franchise from Wyc Grousbeck, whose family leads the ownership group, in a deal that would top the 2023 sale of NFL's Washington Commanders for $6.05bn (£4.66bn) in 2023.

The sale - if approved by the NBA's board of governors after a thorough vetting process - would likely not be completed until the summer, at the earliest.

Grousbeck's group bought the Celtics for $360m (£277m) in 2002 and is expected to remain the Celtics' governor through the 2027-28 season.

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The previous record for purchasing a NBA team was set by Mat Ishbia in 2022 after the American billionaire bought the Phoenix Suns for $4bn (£3bn).

"My partners and I have immense respect for Wyc, the entire Grousbeck family and their indelible contributions to the Celtics organisation over the last 23 years," Chisholm said in a release announcing the agreement, the details of which were confirmed by the agencies representing both sides involved in the sale.

"We look forward to learning from Wyc and partnering with Brad Stevens, Joe Mazzulla and the talented team and staff to build upon their success as we work to bring more championships home to Boston."

Grousbeck: Chisholm is the natural choice

Grousbeck himself has since commented on the potential sale of the franchise to Chisholm while speaking to Businesswire, where he said: "Bill is a terrific person and a true Celtics fan, born and raised here in the Boston area.

"His love for the team and the city of Boston, along with his chemistry with the rest of the Celtics leadership, make him a natural choice to be the next Governor and controlling owner of the team.

"I know he appreciates the importance of the Celtics and burns with a passion to win on the court while being totally committed to the community. Quite simply, he wants to be a great owner. He has asked me to run the team as CEO and Governor for the first three years, and stay on as his partner, and I am glad to do so."

To which Chisholm added: "Growing up on the North Shore and attending college in New England, I have been a die-hard Celtics fan my entire life.

"I understand how important the Celtics are to the city of Boston - the role the team plays in the community is different than any other city in the country.

"I also understand that there is a responsibility as a leader of the organisation to the people of Boston, and I am up for this challenge."