The 4 reported bidders still in the running to purchase the Celtics

The ongoing sale of the Boston Celtics has four confirmed bidders in the running to hold a majority stake in the franchise, according to a report from Sportico. 

In a new story from Sportico’s Eben Novy-Williams and Scott Soshnick, the Friedkin Group, Phillies minority owner Stan Middleman, STG Group managing partner William Chisholm, and current Celtics co-owner Stephen Pagliuca are among the groups still engaged in the bidding process. 

The sale of the Celtics has been an ongoing process ever since lead owner Wyc Grousbeck announced on July 1, 2024 that Boston Basketball Partners L.L.C. — the ownership group of the Boston Celtics — announced its intention to sell all shares of the team. 

According to The Boston Globe, the sale is expected to be completed in two separate phases, with the new owner set to control 51 percent of the franchise if a deal is completed this spring. The remaining 49 percent will be sold in 2028. 

Speaking on CNBC in July 2024 shortly after the plan to sell was first announced, Grousbeck acknowledged he expected to remain with the organization through that second phase in 2028 — adding last month that he’d remain involved with the team for a “good portion” even if in the initial sale is struck soon. 

According to Sportico, the next round of bids will be due by the end of this week. 

Pagliuca — who announced his interest in purchasing the Celtics shortly after the sale announcement was released — was tabbed by Sportico as being “viewed by many in the industry as a front-runner to land the team given his insider status.” 

The report added that Pagliuca, who is owner and co-chairman of the Atalanta soccer club in Italy’s Serie A, has hired a pair of banks in Allen & Co. and Raine to assist in the ongoing bidding process. 

Chisholm is the managing partner and Chief Investment Officer at Symphony Technology Group, a private equity firm based in California. Chisholm co-founded STG Group in 2002, which Sportico reported had about $10 billion of assets under management, as of March 2023.

The Friedkin Group is a privately held consortium in Texas that holds an lengthy portfolio of sporting and entertainment assets. Dan Friedkin — the owner and CEO — has a net worth of $7.5 billion, according to Forbes. The consortium’s sports portfolio includes ownership of soccer clubs AS Roma and Everton. 

Middleman, the CEO and president of Freedom Mortgage, bought his minority ownership of the Phillies in 2023. Sportico noted that Middleman “has kicked the tires on investments in other major sports teams, including the Cleveland Guardians and Washington Nationals.” 

The Celtics, who were purchased by the Grousbeck-led group in 2002 for $360 million, are projected to be worth $5.66 billion in 2025, per Sportico’s rankings.

 

Conor Ryan is a staff writer covering the Bruins, Celtics, Patriots, and Red Sox for Boston.com, a role he has held since 2023.