New Boston Celtics owner Bill Chisholm only outbid the second-highest bidder by $100 million in the blind auction that directly led to him purchasing the team. The phrase “only” and “$100 million” shouldn’t belong in the same sentence, but when the total figures are in the billions, that number quickly becomes very small in the grand scheme of things.
“But he almost didn’t win. Chisholm bought the Celtics at a $6.1 billion valuation but only outbid the second-place suitor by less than $100 million in the blind auction, two sources with knowledge of the bids said,” wrote Mike Vorkunov of The Athletic. “That gap is a relative pittance in such a high-priced transaction, but it was enough. For a Celtics fan who grew up in nearby Georgetown, Mass., it was barely believable.”
Vorkunov’s behind-the-scenes article detailing the sale provided the information also added some insight into who else could have bought the team.
Bill Chisholm almost wasn't Celtics owner
Per Vorkunov, Stan Middleman, a minority owner of the Philadelphia 76ers, finished second in the blind auction, and Steve Pagliuca, who was a part owner of the Celtics, ended third.
“A day later, he learned the number was just high enough,” Vorkunov wrote of Chisholm’s bid. “The second-place bidder, believed to be Middleman, came in at more than $6 billion. Pagliuca, multiple sources briefed on the negotiations said, offered $5.5 billion.”
Since entering the Celtics’ world, Chisholm has been a constant face. He’s employed the help of former lead owner Wyc Grousbeck, who is still around the team and is always at games.
Chisholm sits in the same courtside seats that Grousbeck used to frequent, and the animation with which he watches Celtics games should be endearing to anyone who is a fan of the team.
It’s painfully obvious that Chisholm cares about the Celtics a lot. He grew up in Massachusetts and has loved the team since he was a kid. That much is obvious when you watch the way he acts next to the court.
Every basket, block, and fast break opportunity, Chisholm is up and out of his seat, cheering for the Celtics. He may be the most passionate fan in the entire building. And he almost wasn’t the owner.
It was a blind auction. Anything could have happened. If Chisholm had decided to bid just a little bit less, Boston fans could be rallying behind a different person, and who knows what their priorities would have been?
Maybe they wouldn’t want to pay the tax. Maybe they would have wanted a cheaper roster.
Chisholm wants to win.