A record-breaking NBA team sale is once again stirring hope for professional basketball’s return to Seattle.
Shortly after private equity executive William Chisholm agreed to purchase the Boston Celtics in a deal valuing the franchise at a minimum of $6.1 billion, Seattle Kraken owner Samantha Holloway responded with a reminder: Seattle is ready.
“We understand that today’s news will pique the interest of NBA fans in Seattle,” Holloway said Thursday. “As we have said before, our ownership group is ideally positioned for an NBA team with Climate Pledge Arena and the incredible fans in Seattle, but we will always be respectful of the Commissioner’s process and timeline.”
The NBA has not announced plans for expansion, but Thursday’s Celtics sale — the largest in American pro sports history — has fueled speculation about the league’s financial momentum and possible future cities.
Seattle has long been considered a leading candidate for an expansion franchise, more than 15 years after losing the SuperSonics.
Meanwhile, in Boston, Chisholm’s agreement to buy the Celtics sets a new benchmark in the sports world. The deal, which is subject to approval by the NBA’s board of governors, would surpass the $6.05 billion paid for the NFL’s Washington Commanders in 2023.
Chisholm is the managing partner of Symphony Technology Group, a private equity firm based in California. A native of Massachusetts and lifelong Celtics fan, Chisholm graduated from Dartmouth College and the Wharton School of Business at the University of Pennsylvania.
“Growing up on the North Shore and attending college in New England, I have been a die-hard Celtics fan my entire life,” Chisholm said in a statement. “I understand how important the Celtics are to the city of Boston... and I am up for this challenge.”
The deal includes Boston investors Rob Hale, a current Celtics shareholder, and Bruce Beal Jr. Chisholm reportedly beat out multiple bidders, including a group led by current Celtics minority partner Steve Pagliuca, who said his team submitted a record, fully guaranteed bid with “deep resources and no debt.”
The agreement includes a two-part transaction: Chisholm would immediately acquire at least 51% of the team, and the remaining shares — currently held by the group led by Wyc Grousbeck — could be sold by 2028 at a valuation that could reach $7.3 billion, depending on NBA revenue growth.
Grousbeck, whose group purchased the team in 2002 for $360 million, will remain on as CEO and Governor for the next three seasons at Chisholm’s request.
“Bill is a terrific person and a true Celtics fan, born and raised here in the Boston area,” Grousbeck said. “He wants to be a great owner.”
Chisholm expressed gratitude toward the outgoing ownership and emphasized a commitment to working with team leaders such as President Brad Stevens and Head Coach Joe Mazzulla.
The Celtics are one of the NBA’s cornerstone franchises, winning their 18th championship last June — the most in league history — and are favorites to contend again this season behind stars Jayson Tatum and Jaylen Brown.
The sale was first reported by Sportico and ESPN. The NBA board of governors is expected to vote on the deal this summer.
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