The Boston Celtics, one of the NBA's most successful, prestigious, and high-scoring teams, is now in the ownership of a sports enthusiast who generates $10 billion in annual revenue. The audience and business world officials are curious about the mysterious owner, who was not in the limelight before this purchase for his other activities.
Boston Celtics' New Owner
The Boston Celtics is an American professional basketball team that competes in the NBA. The record history reveals that it has the most championship titles, almost 18. Jayson Tatum and Jaylen Brown are two adorned players of the Celtics who lead the team and earn victory after victory.
Do you know that the Celtics are preparing for another championship? However, there is a change in plan, as it will jump onto the basketball court under the supervision of a new owner. According to the latest news, a businessperson and a Celtics fan has purchased the team for the staggering amount of $6.1 billion from owners Wyc Grousebeck and Steve Pagliuca.
With the selling of the Boston Celtics, Grouebeck will remain in the CEO position as before. His share in the team is limited to only 2%, which is $122 million after its sale. The recent events spread like wildfire in the entertainment industry, increasing curiosity about the mysterious owner and his net worth to afford such an expensive team. Resources reveal that Bill Chisholm bought the Boston Celtics.
Bill Chisholm: Who is He?
It is no surprise that many media people and business associates do not know about Bill Chisholm. He had never appeared in the media, shared his photos on social media, or unveiled his net worth. The curiosity of the person is valid.
After purchasing the Boston Celtics, a little bit about him is known. Bill is a lifelong Celtics fan and lives in Georgetown, Massachusetts. Now, he is in the spotlight and has revealed he is the managing partner of a private equity firm—Symphony Technology Group.
When observing from a larger lens, Bill's company generates $10 billion in assets. A funny thing happened after the purchasing incident: Bill Simmons admitted that he did not know how to pronounce his name in his show.
Resources also know Bill's chunks of background. Chisholm was born and grew up in Georgetown. He watched Boston Celtics games from the obstructed view seats at old Boston Garden. After earning a Master of Business Administration, he worked at Bain Capital. However, he co-founded Symphony Technology Group in 2022 to establish something that belongs to him.
Bill Purchasing Team: Insights
Bill's purchasing the Boston Celtics undoubtedly raised questions about how he bought the team while managing a hefty price tag. The answer is that Bill is not alone in the project; he has support from other investors, including Celtics' shareholder Rob Hale and businessman Bruce Beak Jr. In addition, a private firm, Sixth Street, also invested $1 billion in the team.
When discussing Bill Chisholm's finances alone in purchasing the team and being the lead investor, the NBA says that he must pay 15% of the purchasing price, which is appropriately $450 million. Resources reveal that Bill is collecting $500 million for now and another $500 for payment in the future.
NBA rules require the lead investor to put up at least 15% of the purchase price. That means Chisholm must pay at least $450 million, with half of that ($225 million) due immediately. Reports say he's gathering around $500 million now and another $500 million for future payments.
What's in Store for Celtics?
From now on, Bill Chisholm will lead the most successful NBA franchise. Time will tell what's in store for the Boston Celtics in the ownership of a young businessman who is also an avid Boston fan.