So… What exactly is going on with the sale of the Boston Celtics?
That’s a question many had Tuesday in the wake of a report that Wyc Grousbeck won’t remain the Celtics’ lead owner after his ownership group completes a $6.1 billion sale of the team to new owner Bill Chisholm.
While ESPN’s Shams Charania initially reported that Grousbeck “will no longer stay on as governor” of the franchise, multiple outlets later clarified that Grousbeck will still be with the franchise until 2028, but with the title of alternate governor instead of lead governor.
Grousbeck also is expected to retain his CEO title through 2028, while Chisholm will take over as lead owner when the sale goes through, which could happen as soon as next week.
What does this all mean for the future of the organization? As Celtics Insider Chris Forsberg explained Tuesday on Arbella Early Edition, the team’s day-to-day operation shouldn’t change much under this arrangement.
“(It’s) a little bit of a change from what was expected, but I don’t think this is going to change a whole lot in how the dynamic is going to work moving forward,” Forsberg said.
“I think that Bill Chisholm is going to enjoy having Wyc here to help steward the franchise forward in this transition process, but Bill, after paying $6.1 billion, is understandably going to sit in the lead chair. He’ll be the guy who goes to the Board of Governors meetings and has that bigger role as the Celtics chart a path forward here.”
According to The Athletic’s Mike Vorkunov, the NBA doesn’t allow someone to serve as lead governor if they don’t own at least 15 percent of the franchise. With Chisholm set to take at least a 51 percent ownership stake in the team until the full sale is complete in 2028, it makes sense that he’d assume that “lead role” given his financial investment.
As Forsberg noted, however, Grousbeck still will be involved in the franchise’s operations, even if Chisholm is atop the masthead.
“The fans probably won’t notice much change from the outside,” Forsberg added. “It’s still going to be a collaborative effort. But I do believe that when you pay a hefty price — we thought that at some point, Bill would elevate to that role maybe even before 2028.
“But Wyc will still have a part of this, and Bill Chisholm can start leaving his imprint on this new franchise and finding a way to get them back to a championship level.”
For his part, Chisholm has placed his trust in Celtics president of basketball operations Brad Stevens, who has aggressively trimmed salary this offseason in an effort to get under the second apron of the luxury tax but has ownership’s blessing to spend in the future and rebuild a contender in Boston when Jayson Tatum returns from his ruptured Achilles.
“Bill has been pretty clear from the get-go that he wants to make sure that we’re prioritizing basketball assets and the ability to retool this thing at the highest level that we can,” Stevens said last month.
