Celtics acquisition deal is approved by league board

The NBA officially announced that the deal to acquire the Celtics by the investment group led by William Chisholm has been unanimously approved by the NBA board of directors. The voting result of

is actually no longer suspense, but this acquisition of Chisholm has not been opposed, which is of great significance. The league said the deal is expected to be completed soon.

Chisholm is a Massachusetts native and a lifelong fan of the Celtics. He reached a tentative agreement in March to acquire the team for $6.1 billion, a price that set a record for the acquisition of North American sports teams at the time. However, since then, the Lakers broke this record with a selling price of $10 billion.

Among the four groups that bid for the team, Chisholm made the highest offer. According to team reporter Brian Rob, his other shareholders include Aditya Mittal, Robert Hale, Bruce A-Bill Jr., and the private investment company Sixth Street.

In the first phase of this acquisition, Chisholm's group will acquire 51% of the team's shares from the Grosbeck family and will acquire the remaining shares in 2028.

When the deal was first announced, Grosbeck intended to continue as a team director for the 2027-28 season. However, the latest report shows that this is no longer possible, as Grossbeck's stake will be lower than the NBA's minimum shareholding required by the position holders. Instead, once the deal is officially completed, Chisholm will become chief executive, while Grosbeck will serve as deputy director and CEO for the 2027-28 season.