Celtics
“We’ve got more capital coming in than we even have room for.”
Some old will remain with the new when Bill Chisholm’s group replaces the Grousbeck family as the Celtics’ majority owner later in 2025.
Wyc Grousbeck, the Celtics’ current governor and front-facing owner, shared that “former partners” have recently joined Chisholm’s ownership group, including “most” members of the current ownership group.
“I think this can be a really positive transformation. It’s going to happen this summer, but it’s definitely going to happen,” Grousbeck told WBZ’s Dan Roche. “We’re like, oversubscribed. We’ve got more capital coming in than we even have room for. So, an appreciation for all of those people who are believing. A lot of former partners are coming in now, which is a new change and that’s great. So, it’s the old and the new coming in, mixing together.
“But there’s a lot of new energy and excitement. We’ve been in 22 years, my group, and now most of us are going to be in going forward, including me. I’m doubling down on all of my stuff and putting everything I’ve got to stay in for a while.”
Grousbeck sharing his plans to remain involved with the Celtics isn’t a new development. When it was announced that the Chisholm-led group bought the team for $6.1 billion in March, the team also shared that Grousbeck would remain as their governor and CEO until the end of the 2027-28 season.
Grousbeck didn’t share which other members of the current ownership group would be involved with the new ownership group, but there is one that’s already known. Granite CEO Rob Hale will remain on board when Chisholm takes over, after he reportedly showed interest in purchasing the team.
It was also reported at the time that Chisholm’s group included global investment firm Sixth Street and Related Companies president Bruce Hale. However, there have been some questions about how Chisholm’s group will finance the purchase. Chisholm had committed less money than Sixth Street to the two-part deal as of late March, which would be a violation of NBA rules, according to Axios.
As for which other current investors might stay on with Chisholm’s group, co-owner Steve Pagliuca indicated that he wasn’t going to be a part of ownership moving forward when he lost the bidding process.
“My family and I will continue to be lifelong fans and cherish the honor of being part of the organization for so many years. I will never stop being a Celtic,” Pagliuca wrote in a statement when the sale of the team was announced.
Pagliuca didn’t fully close the door, though, on potentially purchasing the team if Chisholm’s deal fell through.
“If the announced transaction does not end up being finalized, my partners and I are ready to check back into the game and bring it home, to help continue what the Celtics do best — win,” Pagliuca wrote.
The NBA has yet to vote on approving the Celtics’ sale. But as some more details are being worked out, Grousbeck is bullish on what the future has in store.
“It’s exciting. It’s really exciting,” Grousbeck said. “There’s a new vibe. Yet, they don’t want to change anything. They want it to be just the way it’s been. So, there’s going to be a mix of those two approaches.”
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