The detail that changed everything: this is how Bill Chisholm managed to buy the Celtics

The historic sale of Boston Celtics took a decisive turn in March when Bill Chisholm (a fan of the franchise since childhood) managed to take control of the team after winning a blind auction by less than $100 million against the second-highest bidder. His final offer of $6.1 billion not only secured ownership but also set an absolute record: it was the highest amount paid for a controlling stake in the NBA and the most expensive sports franchise sale in North America.

Chisholm, who admitted that at the beginning of the process he estimated his real chances of acquiring the team at just 1%, spent the moments before the final call from sales advisor Frank Ghali nervously pacing a conference room in Menlo Park.
"It's a once-in-a-lifetime investment," he said later. "Something irreplaceable."

The final round of bids included four groups: Chisholm himself; minority co-owner Stephen Pagliuca; also a minority shareholder of the Phillies, Stan Middleman; and the Friedkin Group. According to various sources, Middleman was the one behind Chisholm with an offer exceeding $6 billion, while Pagliuca fell around $5.5 billion.

The deal garnered significant interest as it was the first NBA franchise to be sold after the league's 11-year, $76 billion media rights agreement. Additionally, the announcement of the process came just weeks after Boston secured its 18th championship. The then majority governor, Wyc Grousbeck, approved the sale in July 2024.

This is how the purchase of the Celtics was completed

To finalize the purchase, Chisholm assembled a group of investors that includes Rob Hale and Bruce Beal Jr. as minority partners. Additionally, the private equity firm Sixth Street contributed around $600 million in exchange for a 10% stake, albeit without governance rights. This stake is structured as preferred shares guaranteeing an 8% return tied solely to the appreciation of the franchise's value.

After the deal closed, several investors who had initially aligned with Pagliuca ended up joining the winning group. Among them is Aditya Mittal, a member of one of the world's wealthiest families, who joined the new ownership consortium led by Chisholm.

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