Cooley LLP and Wachtell, Lipton, Rosen & Katz led the legal work on the $6.1 billion sale of the National Basketball Association’s Boston Celtics, announced on Thursday.
The franchise with more NBA titles than any other was purchased by an investor group led by William Chisholm, a die-hard Celtics fan who co-founded private equity firm STG Partners, which makes bets on software firms and other tech businesses.
Chisholm’s group is represented by Wachtell, which has scored a role in major sports transactions in recent years including the National Football League’s Washington Commanders, the PGA Tour, and a recent stake sale involving the NFL’s Miami Dolphins.
Wachtell’s partners leading the deal are Edward Herlihy, David Anders, and Eric Feinstein, according to a firm release.
The team was sold by an investor group led by Wyc Grousbeck, who purchased the team for $360 million in 2002. The Celtics and Grousbeck’s family are represented by Cooley, according to a release. The Cooley team was led by partners Matt Hemington, Steve Tonsfeldt and David Silverman.
Sports deals have grown to such a scale and frequency that major law firms have been keen to grow in the area, including by hiring partners with relationships in the industry.
To contact the reporter on this story:
To contact the editor responsible for this story:
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.