In a historic move, Aditya Mittal, CEO of ArcelorMittal, has entered into a $1 billion investment deal to acquire a significant stake in the Boston Celtics, potentially becoming the team's second-largest shareholder. The Celtics are set to undergo a major ownership change, with William Chisholm leading a group that struck a record-breaking $6.1 billion deal for the franchise, marking the highest price ever paid for a U.S. sports team. Chisholm, a private equity executive, is expected to take over as the team's governor in the coming years, solidifying Mittal's role as a key figure in the Celtics' ownership structure.
Mittal, hailing from one of India's wealthiest families, brings a wealth of business acumen and financial resources to the table, aligning with his family's legacy in the global steel industry through ArcelorMittal, the world's largest steel and mining company. With Mittal's investment bolstering the financial foundation of Chisholm's group, the acquisition of the Celtics is inching closer to completion, highlighting the convergence of sports and business at the highest levels. As the Celtics navigate this transformative ownership transition, all eyes will be on the team's future trajectory under the stewardship of Chisholm and the influential backing of Mittal.