The Boston Celtics are set to be sold to a group led by Bill Chisholm, co-founder of private equity firm Symphony Technology Group, in a record-breaking $6.1bn deal.

The purchase price marks the highest valuation ever for a North American sports franchise, surpassing the $6.05bn sale of the Washington Commanders in 2023.

The sale follows nine months of deliberation after Celtics majority owner Wyc Grousbeck announced plans to sell the team. The Grousbeck family, which purchased the franchise for $360m in 2002, oversaw a highly successful era that included two NBA championships and four Finals appearances. Forbes valued the Celtics at $6bn in October 2024, aligning closely with the reported sale price.

Chisholm’s group was among at least four bidders for the Celtics, with final offers submitted on March 14. The Grousbeck family selected Chisholm’s bid less than a week later.

Chisholm, who co-founded Symphony Technology Group in 2002, has built the firm into a major investor in data, software, and analytics businesses. Before founding STG, he worked at The Valent Group, Bain & Company, and PaineWebber.

This acquisition underscores the increasing role of private equity in professional sports, as investors recognize the growing value of major franchises. With streaming and international expansion driving revenues, high-profile sports assets continue to attract institutional capital. The Celtics’ sale sets a new benchmark for franchise valuations, reflecting the sustained demand for elite sports teams among private equity investors.