The madness is here in full force.
March Madness live updates, scores, highlights: NCAA tournament Day 1 includes Creighton tops Louisville, Purdue vs. High Point
The opening day of March Madness is here.
Boston Celtics being sold to Bill Chisholm for North American record $6.1 billion
Bay Area tech investor Bill Chisholm has agreed to purchase the Boston Celtics for a record $6.1 billion — the most ever paid for any North American sports franchise, a story broken by Shams Charania of ESPN and confirmed by the Grousbeck family and the Boston Basketball Partners (the sellers).
The sale breaks the record of $6 billion paid for the NFL's Washington Commanders. The previous record price for an NBA franchise is $4 billion (what Mat Ishbia paid for the Phoenix Suns).
“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 released statement. “I understand how important the Celtics are to the city of Boston – the role the team plays in the community is different than any other city in the country. I also understand that there is a responsibility as a leader of the organization to the people of Boston, and I am up for this challenge.”
“Bill is a terrific person and a true Celtics fan, born and raised here in the Boston area,” team governor Wyc Grousbeck said. “His love for the team and the city of Boston, along with his chemistry with the rest of the Celtics leadership, make him a natural choice to be the next Governor and controlling owner of the team. I know he appreciates the importance of the Celtics and burns with a passion to win on the court while being totally committed to the community. Quite simply, he wants to be a great owner. He has asked me to run the team as CEO and Governor for the first three years, and stay on as his partner, and I am glad to do so.”
The sale still needs to be approved by the NBA Board of Governors (the other owners) but is expected to go through.
Chisholm is purchasing a championship team — Boston won the NBA title a season ago and is among the favorites to win this season. The team is set up to contend for seasons to come, but it's going to get very expensive for ownership to keep the team at that level.
The Celtics were put up for sale last summer by the majority owner Grousbeck family, which had a controlling interest in the Boston Basketball Partners, a group of investors who owned the team. Wyc Grousbeck is the face and team governor, but his father, Irving Grousbeck, 90, was the largest single owner in the family (about 20% of the team) and reportedly had pushed for the sale.
The Grousbecks surprised the NBA last July with the announcement they were selling a 51% interest in the team and want to do so in phases, starting now and running until 2028, with Wyc Grousbeck remaining the team's governor until then. Whether Chisolm or the NBA — which just saw a messy sale of the Milwaukee Bucks to Mark Lore and Alex Rodriguez in part because of a dragged-out sale — will want this sale to close sooner remains to be seen.
Chisholm is the managing partner of Symphony Technology Group (STG), a San Francisco-based private equity firm that invests in "market leaders across the mid-market software and software-enabled tech services landscape," according to its website. RSA and SurveyMonkey are among the better-known companies in the STG portfolio.
The NBA was hoping for a $6 billion or higher price tag for the sale because it will impact the buy-in price for expansion, if the NBA still plans to continue down that road. The Grousbeck and partners purchased the Celtics in 2002 for $360 million.
Beyond the purchase price, owning Celtics could be very expensive, both on and off the court, in the coming years.
On the court, keeping the Celtics' championship core together will send the team deep into the tax apron. Jaylen Brown's new max contract kicked in this season, and next season Jayson Tatum's already signed max contract begins (2025-26), plus next season there is $32.4 million to Jrue Holiday, $30.7 million for Kristaps Porzingis, $28.7 million for Derrick White and dealing with free agents like Al Horford and Luke Kornet. Payroll and taxes are expected to come out to $252 million for the Celtics this season (fourth most in the league), and that is expected to balloon up to more than $450 million for the 2025-26 season (when the repeater tax kicks in with a vengeance).
Off the court, the Celtics don't own TD Garden (it is owned by the same group that owns the NHL's Boston Bruins). There is speculation that part of the reason Chisholm purchased the team is to use them in a real estate deal to build a new arena (and likely some retail and other infrastructure around it, depending on the exact location).
March Madness 2025: How to watch the Gonzaga vs. Georgia NCAA tournament game today
Gonzaga plays Georgia in the NCAA Tournament First Round — here's the scoop on how to watch today's game.
How St. John’s made a March Madness comeback
Dan Patrick and Co. discuss Rick Pitino's comeback with St. John's basketball, the most iconic moments from Pitino's career, and how far the crew expects St. John's to go in March Madness this year.
Yale, Ivy League and other March Madness upset seekers face uncertain future amid college upheaval
Nobody does the underdog thing at March Madness better than the Ivy League. These days, that means nobody does it better than Yale.
3 coaches in 3 seasons equals the same reward with Utah State back in March Madness
Reaching March Madness is hard any season. Going back-to-back takes some doing, especially with the transfer portal along with name, image and likeness in the mix. All of which makes Utah State’s latest NCAA Tournament berth especially impressive.
A look at injuries that could shape the NCAA Tournament
Health is always a factor in the NCAA Tournament, shaping the way games transpire.
Bill Chisholm reportedly agrees record $6.1bn deal to buy NBA champion Boston Celtics
A group led by Bill Chisholm, the founder of private equity firm Symphony Technology Group, has agreed a deal to buy the Boston Celtics for $6.1bn, according to ESPN.
The deal would be a record sum for a US sports franchise: a group led by Josh Harris and Mitchell Rales bought the NFL’s Washington Commanders for $6.05bn in 2023.
The Celtics’ current owners, the Grousbeck family, said last June that they intended to sell the team in 2024 or 2025. ESPN reports that Wyc Grousbeck will continue as the team’s CEO until the end of the 2027-28 season.
The sale would represent a huge return in investment for the Grousbecks and partner Steve Pagliuca: they led a group that bought the team for $360m in 2002. Pagliuca had hoped to take sole ownership of the Celtics but was outbid by Chisholm. On Thursday, he said he was “saddened to find out that we have not been selected in the process.”
Related: Boston’s brilliant technocrats micromanaged their way to the NBA title
The Celtics are one of the NBA’s blue chip franchises. They have won a record 18 championships, including their win in last season’s NBA finals over the Dallas Mavericks. Their core of Jaylen Brown, Jayson Tatum and Kristaps Porziņģis are still in their prime but Tatum, Boston’s best player, is due a huge payday and keeping the roster together in the long-term could prove difficult. However, this season has been a strong one for the Celtics and they sit second in the NBA Eastern Conference.
The NBA is also in rude financial health. Although audience figures have been slightly down this year, the league agreed a new $76bn 11-year broadcasting deal with ESPN, NBC and Amazon in 2024.
Last year, Forbes ranked the Celtics as the fourth-most valuable NBA team at $6bn. The Golden State Warriors were ranked No 1 with an estimated value of $8.8bn.
Chisholm is a Celtics fan and grew up in the Boston area.
William Chisholm to Buy Celtics in Record $6.1 Billion Deal
A group led by William Chisholm and backed by private equity fund Sixth Street has reached an agreement to buy the Boston Celtics, according to multiple people familiar with the agreement, in what will be the most expensive NBA team sale in history.
The managing partner of Symphony Technology Group, Chisholm has agreed to buy the team in two stages, which was the stated goal of the Celtics’ current ownership, led by the Grousbeck family. The deal values the team at $6.1 billion in the first payment.
More from Sportico.com
Irving and Wyc Grousbeck announced the deal Thursday morning in a letter to Celtics investors. Sixth Street has committed more than $1 billion to the deal, according to multiple people familiar with the process. The group also includes Rob Hale, a current Celtics investor, and Bruce A. Beal Jr., president of Related Companies.
“This was an extremely thorough, rigorous sale process,” the Grousbecks said in the letter. “We had tremendous interest from potential control owners and we’re grateful for the considerable time and effort bidders put in over the past few months, especially. In the end, Bill and the group he put together came in with a superior final bid.”
Wyc Grousbeck will remain the team’s governor through the 2027-28 season.
The agreement concludes a sale that was closely tracked, both in the NBA and other U.S. leagues, as a barometer for sports valuations overall. The Celtics are among the NBA’s most successful and most popular franchises, but they are a tenant in their arena and own just a small piece of their local media partner. Sportico values the team at $5.66 billion. A common question among insiders over the past few months has been whether the team would sell for more or less than $6 billion.
This deal carries a blended valuation of about $6.6 billion. That’s by far the most ever paid for control of an NBA team, eclipsing the $4 billion valuation when Mat Ishbia bought the Phoenix Suns a few years ago.
Chisholm was born and raised in Massachusetts and attended Dartmouth College, as did two of his children. He is the co-founder, managing partner and chief investment officer of STG, which is based in Menlo Park, Calif. STG’s portfolio includes more than 50 active and closed investments, with about $10 billion of assets under management, as of March 2023. Prior to starting STG, Chisholm co-founded The Valent Group, and he also worked at Bain & Company and PaineWebber.
Sixth Street has more than $100 billion in assets under management. In addition to its Giants LP, its other sports holdings include Legends and NWSL club Bay FC, plus minority investments in the San Antonio Spurs, Real Madrid and FC Barcelona.
Sixth Street would join Arctos Partners and Blue Owl as PE firms with multiple NBA team investments. Arctos is invested in the Golden State Warriors, Philadelphia 76ers, Sacramento Kings and Utah Jazz, while Blue Owl holds stakes in the Atlanta Hawks, Minnesota Timberwolves and Kings.
The current Celtics owners bought the NBA team in 2002 for $360 million. They announced that the franchise was for sale last July, less than two weeks after winning an NBA-record 18th championship. The group’s stated reason was estate planning in the Grousbeck family, who currently control the team. Irving Grousbeck is about 90 years old, and his son Wyc has run the team for years. Wyc said that week that his family wanted to sell the Celtics in two stages—51% now, and the rest in 2028—with the provision that he stays in control until the second transaction closes.
Sportico reported last week that four groups remained engaged in the process. They were Chisholm, Phillies owner Stan Middleman, the Friedkin Group, and existing investor Steve Pagliuca. Pagliuca was viewed by many throughout the process as a front-runner.
BDT & MSD and JPMorgan Chase co-led the sale process for the Celtics. Jordan Park served as an advisor the Grousbecks.
(This has been updated with an excerpt from the Grousbecks letter to investors.)
Best of Sportico.com
Sign up for Sportico's Newsletter. For the latest news, follow us on Facebook, Twitter, and Instagram.
Mount St. Mary’s vs Duke Prediction: Odds, Expert Picks, Betting Trends and Stats for 2025 March Madness
Mount St. Mary's Mountaineers vs. Duke Blue Devils Game Preview
Brown shares Kornet's hilarious reaction to Giannis' fake handshake
Brown shares Kornet's hilarious reaction to Giannis' fake handshake originally appeared on NBC Sports Boston
One of the most memorable Boston Celtics moments from early in the 2024-25 season happened during a Nov. 11 win over the Milwaukee Bucks on the road.
Bucks superstar Giannis Antetokounmpo hit Celtics forward Jaylen Brown with an elbow to the face and was called for an offensive foul. As the two of them jogged back down the court, Antetokounmpo did a fake high-five with Brown — extending his hand and then pulling it back at the last second.
Brown wasn’t pleased with Antetokounmpo after the game, saying “Giannis is a child. I’m just focused on helping my team get a win, and that’s what we did tonight.”
There’s more to the story.
According to Brown, Celtics center Luke Kornet was contemplating doing something with Antetokounmpo in Brown’s defense, but he ultimately chose not to escalate the situation.
In a recent interview with NBC Sports Boston’s Chris Forsberg, which can be watched in the video player above, Brown told the hilarious story.
“Luke came to me, and this was the first time I’ve seen Luke serious, and he said, ‘I didn’t like that.’ He was straight faced,” Brown said. “And I was like, ‘It’s whatever.’ He was like, ‘I should’ve done something.’ I said, ‘What were you gonna do, Luke?'”
It sounds like Kornet regrets not doing more in that moment.
“Lamenting that I wasn’t more of an enforcer is exactly what happened,” Kornet told Forsberg. “I’m generally a peacemaker type of person, but you realize sometimes there’s an appropriate level of ‘this is unacceptable.’ I think I’ve been growing in my defending — protecting justice?”
Brown also added, while laughing: “He was like, ‘I should’ve done something. I didn’t like that. I was right there, and I contemplated it, and I thought about it, and I analyzed it, and I did nothing. But I should have done something.'”
“I was just angry at myself for not having been like a vigilante and taking justice into my own hands,” Kornet added.
When asked if he’s ever been in a fight, Kornet explained he got three days of lunch duty once as a kid before saying the real answer is, “No, not really.”
It’s always good to stick up for your teammates, but Kornet probably made the right decision not to engage with Antetokounmpo. In the end, the Celtics won the game, which is what’s more important.
Oklahoma vs UConn Prediction: Odds, Expert Picks, Betting Trends and Stats for 2025 March Madness First Round
Oklahoma Sooners vs. UConn Huskies Game Preview
Why Butler vs. Barnes matchup is key to Warriors-Raptors outcome
Why Butler vs. Barnes matchup is key to Warriors-Raptors outcome originally appeared on NBC Sports Bay Area
When the Toronto Raptors take the court against the Warriors on Thursday night, their best player, Scottie Barnes, will be facing a familiar opponent wearing an altogether different jersey.
Barnes can reacquaint himself with Jimmy Butler III, formerly of the Miami Heat but now of the Golden State Warriors, when the teams meet at Chase Center. Coverage on NBC Sports Bay Area begins at 6 p.m. with Warriors Pregame, with tipoff scheduled for 7.
The game is the finale of a seven-game homestand for the Warriors (40-29), who occupy sixth place in the Western Conference standings. The rebuilding Raptors (24-45, 11th in the East) are crossing their fingers and hoping for luck in the 2025 NBA draft lottery.
Toronto already has identified Barnes, 23, as a core member of its future; he received a rookie maximum extension last summer worth $224.9 million over five years. The 6-foot-8, 225-pound forward owns, like Butler, a comprehensive set of skills as he leads the Raptors in assists (5.9 per game) and steals (1.5 per game) and is second in scoring (19.5 points per game) and rebounding (7.8 per game).
Put simply, Barnes, a 2024 NBA All-Star, is the Raptors’ best route to pulling off an upset.
And Butler is Golden State’s first line of defense against that possibility.
Barnes and Butler faced each other nine times as Eastern Conference foes, and each was the primary defender of the other. Butler posted slightly better individual statistics – including two triple-doubles – but the Raptors posted a 5-4 edge over the nine games.
Butler, 35, has been at the root of Golden State’s recent resurgence, providing stable leadership and the kind of court generalship that has enhanced the games of complimentary players but also allowed stars Stephen Curry and Draymond Green to flourish.
In 17 games as a Warrior, Butler is averaging 17.2 points on 44.8-percent shooting from the field, including a paltry 22.9 percent from distance – but 87.4 percent from the line. His 127 free-throw attempts rank eighth in the league over that span.
Butler’s scoring and efficiency have increased in recent games, as over his last seven games he is averaging 18.9 points on 45.9 percent shooting, including 40 percent from deep. He was Golden State’s top scorer for the first time Tuesday with 24 points in a victory over Milwaukee.
The Warriors, amid a heated playoff race in the West, have won eight of their last nine games and are seeking their first 6-1 homestand since January 2022.
Liberty vs Oregon Prediction: Odds, Expert Picks, Betting Trends and Stats for 2025 March Madness First Round
Liberty Flames vs. Oregon Ducks Game Preview