Record Sales of the Celtics and the Lakers

This year, two of the NBA's most famous teams have been sold at record prices. In March, the Boston Celtics agreed a sale to a group led by Bill Chisholm at a valuation of $6.1 billion, and in June the Buss family agreed to sell control of the Los Angeles Lakers to Mark Walter at a valuation of $10 billion.

The Celtics deal was structured in stages. Chisholm, co-founder of Symphony Technology Group, would take at least 51% of the team when the deal closed, with full control coming by 2028 at a price that could value the club at up to $7.3 billion. Wyc Grousbeck, whose group bought the Celtics for $360 million in 2002, would stay as chief executive and governor until the 2027-28 season. Chisholm outbid at least two other groups, including one led by former minority owner Steve Pagliuca, and the NBA Board of Governors unanimously approved the sale this month.

The Lakers deal also left the previous owners with a stake, with Jeanie Buss expected to keep at least 15% of the team. Walter, who already controls baseball's Los Angeles Dodgers, bought control at a valuation far above the previous NBA record of $4 billion paid for the Phoenix Suns in 2023. Both sales needed approval from the league's owners, a step similar to the Premier League's Owners' and Directors' Test, where the league itself decides whether a buyer is suitable.

Staged sales let long-standing owners step back gradually, while buyers pay record prices for control of some of the most valuable teams in sport.