Boston Celtics secure $1 billion investment from Indian steel tycoon Aditya Mittal in historic $6.1 billion sale | NBA News – Times of India

The Boston Celtics are set for a transformative ownership shift after Indian steel magnate Aditya Mittal committed a staggering $1 billion to the franchise. This investment is part of a landmark $6.1 billion sale led by private equity executive William Chisholm, marking one of the most expensive team acquisitions in NBA history.

Aditya Mittal becomes second-largest stakeholder in the Boston Celtics

Aditya Mittal, CEO of global steel leader ArcelorMittal and son of billionaire Lakshmi Mittal, will emerge as the Boston Celtics’ second-biggest owner after Chisholm. Mittal’s involvement bridges a crucial funding gap for Chisholm’s ownership group and positions him for a potential role as alternate governor in the future.

Key details about the ownership transition: – Primary investor: William Chisholm will take over as team governor after the 2027-28 season, succeeding current governor Wyc Grousbeck. – Mittal’s role: While remaining ArcelorMittal CEO, Mittal will bring his business expertise to the Celtics’ strategic decisions. – Governance shift: The Grousbeck family, who guided the team to four Finals appearances since 2002, will relinquish their majority stake.

Why the Boston Celtics sale comes at a critical juncture

The ownership change arrives during a pivotal offseason for the Celtics. After a second-round playoff exit and concerns over Jayson Tatum’s injury, the franchise faces roster adjustments and financial challenges. Aditya Mittal’s investment provides stability and resources to navigate: – Luxury tax implications – Offseason roster moves – Long-term championship contention A Mittal spokesperson called the Boston Celtics investment a “tremendous opportunity,” emphasizing his commitment to both the NBA franchise and his corporate leadership role. (H/t Sportico)The NBA Board of Governors is expected to approve the sale this summer, solidifying the Celtics’ valuation as a benchmark in professional sports. The deal also highlights the growing trend of international investors entering American sports ownership. With Aditya Mittal’s $1 billion backing, the franchise gains not only financial muscle but also global business acumen. The new ownership group will focus on: 1. Stabilizing the team’s competitive future 2. Managing salary cap challenges 3. Leveraging Mittal’s international network for brand growthAlso read: Shai Gilgeous-Alexander’s New Deal With OKC Thunder Could Bank Him $1 Million…PER GAMEThe Celtics’ $6.1 billion sale sets a new precedent, proving that elite NBA franchises remain lucrative assets for high-profile investors.