The Boston Celtics will have a new owner for the first time in more than two decades and two NBA championships. William Chisholm, the managing partner of Symphony Technology Group, will buy the franchise at a $6.1 billion valuation, a source briefed on the deal confirmed to The Athletic.

The sale price is the largest for a North American sports franchise, topping the $6.05 billion a group led by Josh Harris paid for the NFL’s Washington Commanders and far surpassing the $4 billion valuation the Phoenix Suns got when Mat Ishbia bought the team in 2023. It could also set a new baseline for NBA team sales as the league weighs whether to expand and could push prices up for those potential new franchises.

The deal still needs approval from the NBA’s Board of Governors.

Chisholm is a lifelong Celtics fan and grew up on Boston’s North Shore. Sixth Street, a private equity firm, is also buying a portion of the team, as well as current Celtics minority owners Rob Hale and Bruce A. Beal Jr. Sixth Street bought into the Spurs in 2021 and is now one of three firms with investments in multiple NBA franchises.

Wyc Grousbeck, the Celtics’ current governor and CEO, will remain in those roles through the 2027-2028 NBA season, a source briefed on the deal said, and continue to oversee team operations.

Current Celtics minority owner Stephen Pagliuca and Philadelphia Phillies minority owner Stan Middleman were among the other bidders for the Celtics. Pagliuca had been considered the favorite by industry sources for the last few months. Brad Stevens, the team president, met with the final four sales candidates in the final month preceding the sale, according to league sources.

“I trust Wyc and Pags and those guys in their decision,” Celtics star Jayson Tatum said previously. “And understanding the culture that we’ve set and we have, and sustaining that and trying to make it better. We’ve got some great people in this organization and on this team and we’ve worked really hard to build something special. I trust that they’ll make the right decisions in whoever that next group is.”

The Celtics went on sale last July, just days after the franchise won its latest NBA title. The team has been owned by a consortium led by the Grousbeck family since 2002. That group bought the Celtics for $360 million and now sells it for nearly 20 times as much. Jordan Park Group led the sales process as the financial advisor for the Grousbeck family, while Goldman Sachs was the financial advisor for the investor group led by Chisholm.

Boston is the ninth NBA team to have a controlling ownership sale since 2019, as team owners cash out for large returns.

Chisholm will take over the franchise when it is enjoying immense success but will also face difficult questions. The Celtics are set to be over the luxury tax for the fourth straight season if their payroll stays at or near its current level. With increasingly punitive repeater tax rates set to kick in next season as a part of the current collective bargaining agreement, keeping the current group together could mean a roster that costs more than $400 million in total payroll plus taxes.

What this mean’s for the Celtics’ future

The long-term impact of the ownership shift couldn’t possibly be known yet but the stakes are high for the Celtics as they aim to maximize their championship window. Just keeping the current roster together for next season would result in a bill of more than $400 million, including player salaries and luxury tax payments.

That overwhelming total suggests big roster moves could be on the horizon, regardless of whether Joe Mazzulla’s team repeats as champions this summer. At a minimum, the franchise will need to make significant decisions on their future this offseason.

How will the new arrangement work with Grousbeck set to stay in charge through the end of the 2027-28 season? How much will the new ownership group, led by Chisolm, aim to change? How much willingness will the incoming and outgoing ownership groups show to bite the enormous luxury tax bill that would come with holding onto all of the key players?

A lot of questions still need to be answered. And those are big questions. —Jay King, Celtics writer

(Photo: Brian Fluharty / Getty Images)