Wyc Grousbeck, who has been a majority owner of the Boston Celtics since his family bought the team in 2002 for $360 million, is parting ways with the team earlier than expected as new ownership takes over.
Bill Chisholm bought the team earlier this year for $6.1 billion. Chisholm is a co-founder and managing partner of Symphony Technology Group, a private equity firm.
At the time of the sale, Grousbeck said he would continue to run the Celtics as CEO and governor through the 2027-28 NBA season.
But on Tuesday, several media reports indicated the Grousbeck will no longer stay on as governor as the team changes hands. Chisholm will instead assume that role.
ESPN insider Shams Charania was the first to report the news.
Chisholm was born in Georgetown, Massachusetts and attended Dartmouth College in New Hampshire.
When he bought the team, Chisholm said “I have been a die-hard Celtics fan my entire life.”
Grousbeck also spoke about Chisholm at the time of the sale in March.
“He’s born and raised. I think it really helped him make his bid the best bid because he really wanted this,” Grousbeck said. “I think when the fans and all of us really get to know him, we’re going to be really excited.”
Coming off a disappointing end to the 2024-25 season, the Celtics have spent the offseason shedding salary in an effort to get under the NBA’s second apron. If they remain above that apron, the Celtics will face loft tax implications and other restrictions for how they build their roster.
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