Are problems coming with the Celtics’ sale and NBA rules?

The Celtics sold to Bill Chisholm and partners ... right?

Well yes, but it's more complicated. The sale is still awaiting approval from the other NBA owners - a vote will be held in June - and there are certain stipulations in the league's rules that may actually complicate the sale.

Technically, a deal was made back in March between current Celtics ownership and the Chisholm group for the team to be sold to Chisholm and co. for $6.1 billion. However, there's a chance the deal may not actually go as smoothly as they hope. This is because of Chisholm's partners.

According to Dan Primack at Axios, the private equity firm Sixth Street Partners has committed more money to the deal than Chisholm, which is in direct violation of NBA rules.

"A PE fund can have the lesser of 20% or below the percentage held by the control owner (who must hold a 15% minimum stake)," writes Primack.

So, with less money committed than his private equity backer, Chisholm could find his deal, as it's currently structured, blocked by the NBA. Primack says that there are options for Chisholm to ensure the deal goes through.

First, Chisholm could find more investors to dilute ownership and take less financial support from Sixth Street.

The other option, however, would be much more interesting. He could petition for a waiver from the NBA because of the size of the deal. Now, there is no telling if the league would agree, but if they did, it would open up the ability for more private equity involvement going forward - essentially changing the way NBA teams are owned forever.

Luke Graham is a digital sports content co-op for 98.5 the Sports Hub. He is currently a sophomore at Northeastern University studying communications and media studies. Read all his articles here, and follow him on X @LukeGraham05.