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Celtics Announce New Ownership Structure, Titles

August 19th, 2025 at 9:09am CST by Luke Adams

Following last week’s announcement that the NBA’s Board of Governors had approved the sale of the Celtics to a group led by William Chisholm, the team put out a press release on Tuesday confirming the ownership change and the closing of the sale while sharing more details on the new hierarchy at the top of the organization.

As expected, Chisholm has taken over as the Celtics’ governor, with Aditya Mittal and former majority owner Wyc Grousbeck named alternate governors.

Although the plan to have Grousbeck retain his governor position until 2028 fell through, he’ll still hold the CEO and co-owner titles, and will run day-to-day operations alongside Chisholm, per today’s press release. Grousbeck retained a stake in the franchise, but no longer controls at least a 15% share, making him ineligible to remain on as the team’s primary governor.

As for Mittal, reporting in May indicated that he was expected to be the second-largest stakeholder in Chisholm’s ownership group. In addition to Chisholm, Mittal, and Grousbeck, shareholders in the franchise include Bruce Beal, Andrew Bialecki, Dom Ferrante, Robert Hale, Mario Ho, Ian Loring, and the investment firm Sixth Street.

“This truly is a dream come true for me and my family,” Chisholm, a lifelong Celtics fan, said in a statement. “I feel so fortunate to be here as part of this new investor group, who are accomplished, driven people who care deeply about the Celtics and the Boston community. On behalf of our group I am thrilled to partner with Wyc, (president of basketball operations) Brad Stevens and (president of business operations) Rich Gotham to move this outstanding organization forward. We are committed to building on the legacy of the Celtics and raising banners, and I can’t wait for the team to get back out there this fall.”

The Celtics’ announcement also includes a brief statement from Grousbeck:

“The Celtics have been my life’s work for the past 23 years. This incredible ride is now continuing. I am fired up to be shoulder to shoulder with Bill as we pull every lever to go after another banner. There is nothing better than winning.”

Aditya Mittal Joining Celtics’ New Ownership Group

May 22nd, 2025 at 12:53pm CST by Luke Adams

Aditya Mittal is expected to be the second-largest stakeholder of the Celtics once the sale of the team to William Chisholm‘s group is completed, according to Scott Soshnick, Kurt Badenhausen, and Eben Novy-Williams of Sportico, who say Mittal could also become the team’s alternate governor in the future.

Mittal, the CEO of the steel giant ArcelorMittal and a member of one of India’s richest families, is investing roughly $1 billion in the Celtics, per Sportico.

Chisholm reached an agreement in March with the current Celtics ownership group to buy the team in two stages — his group is expected to assume 51% control of the organization this year and then buy out the remaining shares in 2028, with current governor Wyc Grousbeck remaining in that position for a few more years.

However, reporting in the wake of that agreement indicated that Chisholm’s bid – which initially valued the franchise at $6.1 billion (the valuation will reportedly increase to $7.3 billion for the second part of the sale) – was not yet fully financed. Subsequent reports have suggested that Chisholm’s bid is now fully financed and the sale is expected to close in the near future. Mittal’s investment helped close the funding gap, according to Sportico.

As Soshnick, Badenhausen, and Novy-Williams outline, Mittal is the son of Lakshmi Mittal, a Goldman Sachs board member since 2008 who is worth $23.9 billion, per Bloomberg. Goldman Sachs has served as the financial advisor for Chisholm’s group during the sale process.

In addition to Chisholm and Mittal, the new Celtics ownership group will include current minority stakeholder Robert Hale, Bruce A. Beal Jr., and private equity firm Sixth Street, as previously reported.

According to Sportico, Sixth Street is expected to own roughly 12.5% of the team once the sale is finalized. Earlier in the process, there were concerns about Sixth Street having committed more money to the bid than Chisholm, which wouldn’t be permitted, but that will no longer be the case once the deal is finalized. The majority stakeholder in an NBA franchise – Chisholm, in this case – must control at least 15% of the team.