The Boston Celtics have officially transitioned to new ownership under Bill Chisholm, who stated emphatically, “Coming in second is not the objective, and it’s not acceptable.” This was shared shortly after he acquired the team from Wyc Grousbeck. He emphasized the importance of winning championships, reflecting on Grousbeck’s two titles with the team and expressing his determination to secure more.

Chisholm’s investment group made a record bid of $6.1 billion, which the NBA sanctioned last week, allowing for the transfer of ownership on this day.

“We are dedicated to enhancing the legacy of the Celtics and raising more banners,” he expressed. Chisholm, who grew up in Massachusetts, fondly recalls his early memories of the Celtics during their storied past, particularly the teams that included legends like Dave Cowens, JoJo White, and John Havlicek. His childhood fandom escalated during the era of Larry Bird, Robert Parish, and Kevin McHale.

In an interview, he remarked, “How can you be a teenager in Massachusetts, or New England, with that group and not end up being a lifelong Celtics fan?”

The team was made available for purchase last summer after the Celtics secured a win against the Dallas Mavericks in the NBA Finals. Chisholm won the bidding war this March, gaining majority control, with plans for complete ownership by 2028 that could escalate the total investment to $7.3 billion.

This marks the highest price ever for a team in North American sports, even surpassing the valuation of the Los Angeles Lakers, whose franchise is estimated at $10 billion.

Other notable investors in Chisholm’s group include Aditya Mittal, Bruce Beal, Andrew Bialecki, Dom Ferrante, Rob Hale, Mario Ho, and Ian Loring. The news release confirmed Sixth Street as a major participant in this investment venture.

Wyc Grousbeck, who, along with co-owner Steve Pagliuca, acquired the Celtics for $360 million back in 2002, oversaw a successful era that culminated in two NBA titles and 20 playoff appearances in 23 seasons. The most recent championship win came in 2024, largely credited to standout performances from Grousbeck’s team members, including Jayson Tatum and Jaylen Brown.

Chisholm’s leadership is set to maintain the existing structure, as team president Rich Gotham, general manager Brad Stevens, and coach Joe Mazzulla are all expected to keep their roles. Grousbeck will remain as co-owner and CEO, working closely with Chisholm in daily operations.

Chisholm remarked on the team’s current strengths, saying he believes in their potential to continue excelling without making drastic changes. His passion and respect for the franchise’s heritage, noted by Grousbeck, affirm that Chisholm recognizes the responsibility of owning one of the NBA’s flagship teams with its rich history and notable accolades.