The Bill Chisholm Era in Boston is set to begin.
The NBA Board of Governors has unanimously approved the sale of the Boston Celtics to a group led by Chisholm, the league announced in a statement Wednesday.
The transaction is “expected to close shortly,” per the NBA.
Last July, Boston Basketball Partners, LLC — a group led by current lead governor Wyc Grousbeck — announced its intention to sell the team in two phases, giving up a majority ownership stake now and parting with the remaining stake in 2028.
An investment group led by Chisholm agreed to purchase the team for a record $6.1 billion in March, with Grousbeck agreeing to stay on until 2028. On Tuesday, it was reported that Grousbeck will transition from lead governor to alternate governor when the sale goes through, with Chisholm assuming the role of lead governor. (Grousbeck will retain his CEO title.)
Wednesday’s approval of the Celtics sale means that process is officially happening. And when the transaction is finalized, Chisholm officially will take the baton from Grousbeck, who will remain with the franchise but in a slightly different role.
“(It’s) a little bit of a change from what was expected, but I don’t think this is going to change a whole lot in how the dynamic is going to work moving forward,” our Celtics Insider Chris Forsberg noted Tuesday night about the dynamic between Chisholm and Grousbeck.
“I think that Bill Chisholm is going to enjoy having Wyc here to help steward the franchise forward in this transition process, but Bill, after paying $6.1 billion, is understandably going to sit in the lead chair. He’ll be the guy who goes to the Board of Governors meetings and has that bigger role as the Celtics chart a path forward here.”
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