Boston Celtics Sale: LeBron James and Other High-Profile Buyers Who Failed To Buy the NBA Giant

It’s a known truth that the Boston Celtics is one of the NBA’s most beloved franchises. Today they stand tall with 18 championships and an iconic history. A year ago, they added another banner to the rafters, their 18th, cementing their place as one of the greatest teams in basketball. And in the summer of 2024, Wyc Grousbeck found himself at a crossroads, one he never imagined he’d face so soon. The team he and his family had helped shape into one of the NBA’s greatest dynasties, was officially on the market. But this wasn’t a decision driven by ambition or desire for a change. It was personal—deeply personal.

Wyc’s father, Irving, now nearing 90, had played a key role in the Celtics’ ownership. Now, as he ages, looks like the time has come to pass the torch. The family is beginning a new chapter, no they aren’t making changes or giving the team a new look this time, rather they are giving away the team. Yes, you read it right, and we aren’t joking. Since 2002, he has been in charge of the green team, and will only continue it till the 2027-28 season. Now, this means he is selling the team, but his legacy isn’t ending and he is not leaving his position as CEO and Governor till the 2027-28 season.

Boston has one of the massive fan bases, and the team is valued at an impressive $5.64 billion, as pre-Sportico. But, do you know they are selling it for $6 billion? But, wait, we aren’t here to look at their history or what went behind, rather we are here to look at the list of people who wanted to buy the iconic team but failed.

Who were the dreamers who failed to buy?

Well, the list has some big names, but the biggest or the most famous is LeBron James. Once the four-time NBA champion, expressed his ambition to own an NBA team one day. Can’t complain because we have seen players owning sports teams like Micheal Jordon being became part-owner and head of basketball operations for the Charlotte Hornets or Magic Johnson a former part-owner of the Lakers and was the team’s president of basketball operations in the 2010s. Then how will Bron not own one? However, the Ohio veteran owns minority stakes in the English football club Liverpool, but you know the NBA team was his dream, so now with the Celtics situation, it seemed perfect. His group, Fenway Sports Group (FSG), was one of the prominent suitors.

But here are two major catches: how can someone own a team when they are still playing? And then comes the NBA’s rules, which makes sense in his case  and prevents him from owning a team until after he retires. It’s a rule that much might not have thought about, but it threw a wrench into his plans. So, despite his clear desire to own the Celtics, he is not eligible. But, he understands it, “I want to buy a team for sure,” LeBron said on The Shop. “I would much rather own a team before I talk.” But, not yet.

Alongside King James, others who had their eyes set on the Celtics, was Steve Pagliuca, a name that stands out at the second highest. If you take a look at the Celtics ownership page you will notice Pagliuca’s name as a co-owner of the. Or you must have already seen him at the front many times. Now, this makes more sense, he’d been with the team for years, and his passion for the Celtics was undeniable. But, is it a perfect choice?

Nevertheless, his group, the Friedkin Group, is a major group in the sports industry. Having ties to sports teams in Europe, like Serie A club Roma of the Premier League. But, then came a twist! One day major news came up, that Pagliuca and his group were ready to back up their bid with a strong financial offer. Shocking right? Despite all their preparation and the years he had already spent with the team, his bid fell short.

It was a tough blow, but he wasn’t ready to back it down so easily. “We made a fully guaranteed and financed offer at a record price,” he said. But seems like even his best offer wasn’t enough to clinch the deal.

Lastly, we have another big name, Stan Middleman, the minority owner of the Philadelphia Phillies. He is the president and CEO of Freedom Mortgage and since 2023, he owns a 16.25 percent stake in the Phillies. Which means he knows how to handle a sports team. But, to handle the green team, they need someone more efficient, and they have found it.

Who is the new owner of the Boston Celtics?

After months, we finally have a name, William Chisholm. This wasn’t a top choice on everyone’s list, but he has made it. The Celtics got their new owner,  but he was a lifelong Celtics fan. He is from Massachusetts and is aware of what his duties are. He is ready to take on the challenge of becoming the next big man of this legendary team.

“I have been a die-hard Celtics fan my entire life,” Chisholm shared with pride. “I know what this team means to Boston. I know the responsibility that comes with it. I am up for this challenge.”

For Chisholm, buying this team was a dream come true. Imagine this: you grew up cheering for your team and once you grow older, you own it. That is what he is going through, a feeling words cannot describe. After spending his entire year in high-stakes finance as the co-founder and chief investment officer of Symphony Technology Group (STG), Chisholm has finally fulfilled his dream.

But who was behind him? It was the private equity firm named Sixth Street, which helped him seal the deal. Together, they offered a massive $6.6 billion for the team. With this, Celtics have set a record- the most expensive NBA sale in history.

And this makes Wyc confident of his decision. “Bill is a terrific person and a true Celtics fan, born and raised here,” he said. And with Chisholm excited and ready to take whatever for the team, it’s clear that he wasn’t just looking to buy the team—he was looking to bring the Celtics back to the top. His statement is a promise: “We work to bring more championships home to Boston.”

However, the transition from the Grousbecks to Chisholm may have looked like a business transaction on paper, but to Boston fans, it’s a new day. However, today we have some of our favorite players in new hands, and the fire will burn higher.