NEW YORK: The NBA on Wednesday approved the sale of the Boston Celtics to an investment group led by Bill Chisholm, five months after the deal worth a then-record $6.1 billion was agreed.
“The NBA Board of Governors has unanimously approved the sale of the controlling interests in the Boston Celtics to an investor group led by Bill Chisholm,” the league said in a brief statement.
“The transaction is expected to close shortly.”
Chisholm is the managing director and co-founder of Symphony Technology Group. When he and his co-investors agreed to purchase the storied Celtics franchise “at an initial valuation of $6.1 billion,” that was the highest ever offered for a North American sports team.
It has since been surpassed by the $10 billion sale, in June, of the Los Angeles Lakers by the Buss family to billionaire Mark Walter.
When the Celtics sale was announced, it was stated that Wyc Grousbeck would continue in his roles of chief executive officer and governor, overseeing team operations through the 2027-28 season.
The Grousbeck family and Steve Pagliuca purchased the Celtics for $360 million in 2002.
But US media reported this week that Chisholm — a Massachusetts native who calls himself a “die-hard Celtics fan” — will assume the role of governor because under the terms of the deal, Grousbeck will no longer have the required 15 percent ownership stake the league requires to hold that role.
Nevertheless, ESPN reported that Chisholm and Grousbeck “plan to run the team together as originally planned.”
The Celtics are one of the most storied in the NBA’s history, with a record 18 championships, the most recent in 2024.
NBA approves $6.1bn sale of Boston Celtics
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NBA approves $6.1bn sale of Boston Celtics
UAE dethrone Algeria as Jordan edge Iraq to reach Arab Cup semi-finals
- Jordan repeat Asian Cup triumph over Iraq with a 1-0 victory, Ali Olwan scoring from the spot for the 4th time in 4 consecutive matches
- UAE end Algeria’s reign as Arab Cup champions with a 7-6 penalty-shootout win after the game ends 1-1
DOHA: The UAE and Jordan booked their places in the Arab Cup semi-finals on a dramatic day of quarter-final action in which the defending champions were eliminated and a regional rivalry was renewed.
Jordan repeated their Asian Cup triumph over Iraq with another narrow victory, as Ali Olwan extended his remarkable streak of scoring from the spot to four consecutive matches.
His first-half penalty was the only goal in a cagey encounter with few clear-cut chances for either side. Jordan dominated early on but were dealt a blow when star forward Yazan Al-Naimat was forced off with a knee injury.
Iraq improved after the break, with the talismanic Ali Jasim injecting a sense of urgency and twice drawing smart saves from Yazeed Abulaila, first with a fierce long-range strike and then a driven effort moments later.
Jordan nearly sealed the victory with a second goal late on when Mohannad Abu Taha, who scored with a spectacular long-range strike earlier in the tournament, hammered another powerful attempt just wide.
Nevertheless, the Jordanians held firm to set up a semi-final clash with Saudi Arabia on Monday.
The second quarter-final delivered even more drama, as the UAE ended Algeria’s reign as Arab Cup champions with a sudden-death, penalty-shootout win.
Algeria dominated the opening half and twice found the net, only for both goals to be ruled out. They finally made their pressure count just 50 seconds after the restart, when Adil Boulbina fired home after Yacine Brahimi’s strike was parried into his path.
The UAE had struggled to gain a foothold in the game but hit back through Bruno, who converted a pinpoint, inswinging cross from Yahya Al-Ghassani midway through the second half.
As Algeria pressed for a winner they were nearly punished at the end of regulation time when Lucas Pimenta’s fine header forced a sharp save from Farid Chaal.
Extra time offered chances for Brahimi and substitute Zakaria Draoui to put Algeria ahead again, but the breakthrough never came.
And so to the shootout, in which the UAE goalkeeper, Hamad Almeqbaali, denied Mohammed Khacef before Richard Akonnor coolly dispatched the decisive kick to make it 7-6 on penalties and set up a semi-final clash with Morocco, also on Monday.
