Since Wyc Grousbeck put the Celtics for sale, things have changed. The initial plans saw him assume control as a governor till 2028. However, those plans couldn’t stick due to complications. That led to some doubts. There was no certainty about the structure of the deal as Bill Chisholm stood over his $6.1 billion acquisition.
But there’s finally some headway.
After finalizing Chisholm’s appointment, the process moved smoothly despite difficulties in locating Grousbeck’s role. The NBA approved the model of the two-part sale a week ago. On Tuesday, money changed hands, and Chisholm officially owned a 51% majority stake in the Shamrocks. But good news for their fans, Grousbeck isn’t going anywhere till 2028.
A recent statement from the Boston Celtics cleared up the roles for the future.
“Chisholm will serve as Governor, and Wyc Grousbeck and Aditya Mittal will serve as Alternate Governors. Grousbeck will be a Co-Owner and CEO, running day-to-day operations with Chisholm and the existing basketball and business management teams,” it read.
So Wyc Grousbeck, a Celtics fan since childhood, will still be involved. Although an alternate governor, the 64-year-old will still have a say in major decisions around the franchise. The reason he couldn’t stay as the governor as initially planned was because of the league’s rules. They state that the governor has to own 15% of the franchise to remain in that position.
An alternate governor doesn’t come with any stipulations. And since the complications arose, Chisholm and his group were clear in wanting Wyc Grousbeck to maintain a role within the team.
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