SEATTLE — The sale of the Boston Celtics is likely to trigger an NBA expansion process in the near future, according to multiple sources.
A group led by private equity mogul Bill Chisholm agreed to purchase the Celtics Thursday for a valuation of $6.1 billion, the most a sports franchise has been bought for in North American history — even though the Celtics do not own their own arena.
It has been widely believed that NBA owners were waiting on that deal to set a market valuation for expansion.
It also clears a path for Kraken Owner Samantha Holloway, daughter of the late David Bonderman. Bonderman owned a share of the Celtics franchise and the league stipulates you cannot own parts of two franchises.
“We understand that today’s news will pique the interest of NBA fans in Seattle,” Holloway said in a statement to KOMO News. “As we have said before, our ownership group is ideally positioned for an NBA team with Climate Pledge Arena and the incredible fans in Seattle, but we will always be respectful of the Commissioner’s process and timeline.”
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The deal is subject to league vetting, and approval. Owners are meeting next week to discuss it, and the complicated transaction involving the Minnesota Timberwolves. It is unclear whether either issue will be resolved in that meeting.
The NBA is not expected to address expansion at that time, according to multiple sources.
However, once that deal is complete, the green and gold floodgates may open with a likely expansion fee of $4-to-5 billion based on the valuation of the Celtics.
Multiple people close to the situation noted that NBA Commissioner Adam Silver told KOMO News in September of 2024 that the league would address expansion “this season.” Silver has also openly discussed league expansion into Europe.
The regular season ends April 13.
Basketball Hall of Famer and Sonics Legend Lenny Wilkens called the Celtics sales price “unbelievable,” but said he believes Holloway is well positioned with the building that is adjacent to the street named after him.
“I will never get over it,” Wilkens said Thursday about the Sonics departure in 2008. “I have never gotten over it, but to get an opportunity to get one back they would certainly be well supported.”
Wilkens spoke with KOMO News as he was sitting in a room at a Bellevue restaurant, adorned with photos of his Supersonic years.
“I remember Slick Watts, he went out and did clinics, talk to young people. Gus Williams, Fred Brown, Jack Sikma, all of them were very active in the community,” he said.
Wilkens said he believes the return of the NBA to Seattle will make the city a better place.
“It’s great for young people, young people need to have someone to look up to,” Wilkens continued. “They need to be able to have an impact, be a part of the community. I think that’s so important. When you look at Climate Pledge Arena today, they did a wonderful job. It is NBA-ready.”
Lauren Anderson, the director of the University of Oregon’s Warsaw Sports Business Center, believes the Celtics sale will set the price for Seattle.
“I don’t know how you pay much more than four or four and a half in Seattle. I mean, yes, the city is clamoring for it. It is a legacy city for the NBA,” Anderson said.
Holloway and others in Seattle have been quietly preparing for an expansion effort in the event the NBA signals it is ready to commit to a process. All of the original Sonics banners, trophies, and artifacts have been preserved in Seattle for a team’s return.
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The last time the NBA expanded was in 2002 when the then-Charlotte Bobcats, for a team that began play in 2004.
Tim Reynolds and Jimmy Golen, AP Sports Writers, contributed to this story.
