Aditya Mittal, CEO of ArcelorMittal and heir to one of India’s wealthiest families, is investing $1 billion into William Chisholm’s planned acquisition of the Boston Celtics, according to a report citing multiple people familiar with the transaction.
The investment positions Mittal as the likely second-largest shareholder of the 18-time NBA champions and a potential alternate governor for the franchise in the future, the sports business news site Sportico reported on Thursday.
Chisholm, who is leading the purchase, will become the team’s governor following the 2027-28 NBA season, taking over from longtime principal owner Wyc Grousbeck.
The deal values the team at $6.1 billion in its initial stage, making it the most expensive control sale of a professional sports team to date.
At the time of the agreement, the Chisholm group had not finalized full financing.
In September, The Post reported that Grousbeck’s 90-year-old father, Irving Grousbeck, refused to absorb future losses that would inevitably arise from the team’s burgeoning payroll — thus forcing his 63-year-old son to put the franchise up for sale.
The Celtics’ ownership transition was first announced in March, when Chisholm’s group agreed to buy the team in a two-part transaction, aligning with the Grousbeck family’s plan to phase out of control.
Over recent weeks, the consortium has worked to raise capital and finalize the roles of existing minority investors.
Mittal’s contribution helped close the remaining funding gap and solidify the deal.
Mittal is the son of Lakshmi Mittal, executive chairman of ArcelorMittal, the world’s second-largest steel and mining company by revenue after China’s Baowu.
Lakshmi Mittal built the business from the ground up, launching Mittal Steel in the late 1980s and orchestrating its merger with France’s Arcelor in 2006.
His current net worth is estimated at $23.9 billion, according to Bloomberg.
Mittal has served on Goldman Sachs’ board since 2008.
Goldman Sachs acted as financial advisor to the Chisholm group.
“Aditya has long been a huge supporter of the Boston Celtics,” a spokesperson for Mittal said in a statement to Sportico.
“When Wyc and Bill approached Aditya, he saw it as a tremendous opportunity to get involved with this incredible team. Obviously he remains super focused on ArcelorMittal and also very much looks forward to supporting the team further.”
ArcelorMittal and JPMorgan Chase, which co-led the sale alongside BDT & MSD, declined to comment. Goldman Sachs and BDT representatives did not respond to inquiries ahead of publication.
Private equity firm Sixth Street, which owns a minority stake in the San Antonio Spurs, was part of Chisholm’s original group.
While its initial investment has since been scaled back, the firm is expected to retain approximately a 12.5% stake in the Celtics. The NBA limits private equity ownership to 20% per firm.
Other investors in the group include current Celtics stakeholder Rob Hale and Bruce A. Beal Jr., president of Related Companies.
Aditya Mittal, who resides in London, holds a degree from the University of Pennsylvania’s Wharton School and became CEO of ArcelorMittal in 2021.
[Notigroup Newsroom in collaboration with other media outlets, with information from the following sources]
