Celtics’ Aditya Mittal and Wyc Grousbeck join forces in bid to purchase the NFL’s Seahawks
The Boston Globe • • sports
Key Points:
- Lakshmi Mittal, CEO of ArcelorMittal and part of one of India's wealthiest families, committed $1 billion to Bill Chisholm’s group that purchased the Boston Celtics, initially valued at $6.1 billion.
- Wyc Grousbeck, former majority owner of the Celtics, will see his stake reduce from 13% to about 3% by the deal's final phase in 2028, while Mittal and Grousbeck may establish part-time residences in Seattle if they acquire the Seahawks.
- Mittal initially sought to lead the Celtics ownership but ultimately backed Chisholm with a $100 million pledge that grew tenfold, and both Mittal and Grousbeck have permission to pursue ownership of the Seattle Seahawks.
- It is increasingly common for owners to hold stakes in both NBA and NFL teams, with notable examples including Josh Harris, Gayle Benson, Stan Kroenke, and the Haslams.
- The Seattle Seahawks, valued around $6.59 billion, are being sold from Paul Allen's estate with proceeds directed to charity, and billionaire Vinod Khosla is also preparing a bid for the team.
