NBA Rumors: Celtics Might Have Issue To Address Before Sale Approval

The Boston Celtics netted a record-breaking figure of $6.1 billion following their eight-plus-month-long franchise sale process, naming Bill Chisholm the next majority owner.

However, there’s a hurdle the franchise needs to address: the NBA’s private equity ownership rules — which make Chisholm’s initial financial commitment to take the reins in Boston interesting moving forward. Chisholm, the managing partner and chief investment officer at Symphony Technology Group in California, led the long-awaited purchase of the 18-time NBA champions, all while throwing down less money than his Sixth Street Partners.

“That is not allowed by the NBA, per regulations first established in 2021,” Dan Primack of Axios reported Wednesday. “Instead, a PE fund can have the lesser of 20% or below the percentage held by the control owner (who must hold a 15% minimum stake).”

It’s tricky, but not impossible for Chisholm execute a work around. The Massachusetts native and Dartmouth College graduate has been rumored to be in search of an ownership expansion, welcoming new investors. The more investors Chisholm works alongside, the easier it would be for the 56-year-old to not rely solely on the Sixth Street investors. Chisholm’s second option would be to cross his fingers in hopes that the league provides a waiver to help alleviate the worries of recruiting new investors.

Chisholm’s bid isn’t expected to undergo its voting process by the NBA Board of Governors until June, and even once that’s settled, inheriting Celtics ownership will present its next challenge: the luxury tax. Boston is slated to endure a payroll spike from $230 million to the $500 million range once Jayson Tatum’s $315 supermax contract kicks in. That could prompt Boston to make a few immediate tough decisions, such as considering trading Sam Hauser — whose $45 million contract and $10 million annual salary could cost the organization $80 million in luxury tax penalties.

The goal for Chisholm, who on social media has been nicknamed “Billy Banners,” is to simply keep the Celtics in contention. Easy? Sure, without the layered context behind what’ll throw Chisholm in the hot seat for the next few years. Tatum and co-star Jaylen Brown have always contended since the two became teammates in 2017, reaching the Eastern Conference finals five times and the NBA Finals twice in the past seven seasons. That’s set the precedent.

So far, Chisholm has spoken like the true “die-hard” Celtics fan he claims to be. But that’s the easy part. Grousbeck, in tandem with team president of basketball operations Brad Stevens, has built a strong foundation for Chisholm to take over.

Chisholm just has to not screw it up.

“It’s a great homecoming for me and I’ve just had to pinch myself thinking about (returning to Boston),” Chisholm said while in attendance for Monday night’s Celtics-Kings game in Sacramento, per NBC Sports Boston. “A lot of friends from the Boston area that I maybe haven’t spoken to in a while reached out, and it’s a really, really special thing. I’m looking forward to really digging in with the community as well.”

Grousbeck lasted 23 years as the team’s majority owner and cemented a commendable legacy. He commissioned several rebuilds that, while painful at the moment, paid off tremendously in the form of two championships (2008 and 2024). The 63-year-old remained transparent and honest with the fanbase throughout the two-plus-decade-long run and earned Boston’s trust. His upcoming goodbye will be a well-earned ride off into the sunset with Grousbeck’s fingerprints left all over the franchise.

Boston will keep Grousbeck in his current role until the 2027-28 season.

Then it’ll officially be all up to Chisholm and company.