New major player emerges as massive stakeholder in new Celtics ownership group
The Celtics new second-largest stakeholder has been revealed. Is this a unique development for the NBA?
Apr 4, 2025; Boston, Massachusetts, USA; Bill Chisholm, center, who leads a group that is buying the Boston Celtics, stands with current owner Wyc Grousbeck and Chisholm’s wife, Kimberly Chisholm before the game between the Boston Celtics and the Phoenix Suns at TD Garden.
Credit: Winslow Townson-Imagn ImagesBill Chisholm, the incumbent majority stakeholder in the Boston Celtics' new ownership group, needed to find more investors to front the $6.1 billion cost. This is so he could diminish the percentage his private equity partner was providing. Otherwise, the sale may not have complied with NBA rules.
Well, he found more investors, and information has come out about who his helping Chisholm finalize his purchase of the C's. As reported by ESPN on Thursday, the second-largest stakeholder in the Celtics will be Indian businessman Aditya Mittal, who contributed $1 billion to the ownership group.
Mittal is the heir to the fortune of his father Lakshmi Mittal, and the CEO of ArcelorMittal, a major steel production and distribution conglomerate.
With his investment, Mittal has the potential to serve as the Celtics' "alternate governor" at some point during his ownership. However, he has to keep his ownership "passive," meaning he cannot be the controlling or managing partner, due to the NBA's rules surrounding foreign investments.
"The new guidelines restrict sovereign funds, which are broadly found in oil-rich Middle Eastern countries, to so-called 'passive' ownership, meaning for now they can't become controlling owners," wrote Brian Windhorst of ESPN about this specific topic back in 2022.
With Mittal being added into the picture - and as a sizable contributor - the Celtics are now an internationally owned enterprise. It will also be interesting to see how he acts as a benchmark for foreign investors in the NBA going forward.
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.
