The Boston Celtics have officially transitioned to new ownership after the NBA’s Board of Governors unanimously approved the franchise’s $6.1 billion sale, the largest in American professional sports history. Bill Chisholm, whose investment group struck the agreement back in March, now assumes the role of team governor.

Chisholm, raised in Georgetown, Massachusetts, described the milestone as deeply personal. “This truly is a dream come true for me and my family,” he said in a statement cited by Inside Asian Gaming. Wyc Grousbeck, who purchased the Celtics in 2002 for $360 million and helped lead the team to multiple championships, will remain as co-owner, CEO, and alternate governor. One of the most notable newcomers to the ownership structure is Mario Ho, the 30-year-old son of the late Macau casino magnate Stanley Ho and his fourth wife, Angela Leong. A graduate of MIT and co-founder of esports group NIP, Ho is recognized as the youngest founder of a Nasdaq-listed company in Asia.

Ho celebrated his new role on social media, writing, “I’m proud to announce I’ve become a Co-Owner and Board Member of the Boston Celtics! Thank you Bill for letting me join the consortium and this record-breaking deal. As a lifelong Celtics fan, I’ll continue to give my everything to the organization; the responsibilities officially start now! Tears of joy cloud my eyes as l write all this, this is undoubtedly one of the happiest moments of my life.”

In addition to Ho, the Managing Board will feature Bruce Beal, president of Related Companies and minority owner of the Miami Dolphins; Andrew Bialecki, CEO and co-founder of marketing platform Klaviyo; Dom Ferrante, managing partner of The Ferrante Group; Rob Hale, founder of Granite Telecommunications and returning Celtics co-owner; and Ian Loring, senior managing director at Haveli Investments.

Aditya Mittal, CEO of steel giant ArcelorMittal and a member of one of India’s wealthiest families, invested $1 billion into the group, making him the second-largest shareholder after Chisholm. He joins Grousbeck as an alternate governor. Private equity firm Sixth Street is also a “major participant” in the investment group, holding about 12.5% of the franchise, in compliance with NBA ownership regulations.

Challenges Ahead for the Team

While the new ownership era begins with optimism, the Celtics face pressing competitive and financial hurdles. The team secured its 18th championship banner in 2024, but star contracts have heavily strained payroll flexibility. Jaylen Brown signed a five-year, $304 million deal in 2023, and Jayson Tatum followed with a $315 million agreement after the title run. These massive commitments push Boston close to the luxury tax threshold, leaving limited room to maneuver without incurring penalties.

Outgoing minority owner Steve Pagliuca, who had mounted his own bid for the Celtics before the sale, praised the new leadership while announcing his family will maintain a small investment for three more years. “As a lifelong Celtics fan and a co-owner and managing partner for the last 23 years, the Celtics’ success has always been, and will continue to be, what’s most important to me,” Pagliuca said. “As this chapter closes, I’ll now take on a different role — as a superfan who will spend more time with my family, and in the sun at my home in Florida, while cheering on the team from afar.”

As Chisholm and his group officially take control, the Celtics enter a new chapter defined by record investment, rising financial challenges, and an ownership group deeply connected to both Boston and global markets. With Mario Ho and other new co-owners on board, the franchise looks to maintain its championship tradition while navigating an increasingly complex NBA landscape.