Almost two months after news broke of the Celtics‘ $6.1 billion sale to an investment group led by private equity executive Bill Chisholm, the official ownership contingent has been finalized.
According to a letter sent to Celtics shareholders, Chisholm has reached the requisite threshold of commitments from investors to officially complete the sale. The deal itself will not formalized until it passes a vote from the NBA’s Board of Governors, which per Adam Himmelsbach of The Boston Globe, is expected to happen “likely in June or July.”
At the time of the sale’s announcement in late March, Chisholm reportedly lacked the full commitment to fund the entirety of the multibillion-dollar fee (though this is reportedly not uncommon in deals of such immense size).