Mario Ho, son of the late Macau “King of Gambling” Stanley Ho and his fourth wife Angela Leong, announced today that he has become a co-owner and member of the Managing Board of NBA franchise the Boston Celtics.
The Celtics issued a press release confirming that the franchise had been acquired by an investor group led by William Chisholm. The group includes Wyc Grousbeck, Aditya Mittal, Bruce Beal, Andrew Bialecki, Dom Ferrante, Rob Hale, Mario Ho and Ian Loring.
They will become co-owners and members of the Managing Board of the 18-time championship-winning team with Chisolm to serve as Governor and Grousbeck and Mittal as Alternate Governors. Grousbeck will also be Co-Owner and CEO, running day-to-day operations with Chisolm.
Ho was quick to post the news on social media on Wednesday, stating, “I’m proud to announce I’ve become a Co-Owner and Board Member of the Boston Celtics!
“Thank you Bill for letting me join the consortium and this record-breaking deal. As a lifelong Celtics fan, I’ll continue to give my everything to the organization; the responsibilities officially start now! Tears of joy cloud my eyes as l write all this, this is undoubtedly one of the happiest moments of my life.”
According to US media reports, the transaction is worth a staggering US$6.1 billion, setting a new record as the largest such buyout in the history of American professional sports.
After winning their 18th championship in 2024, the Wyc Grousbeck investment group, which had been in control of the Celtics, immediately announced plans to sell the team. Grousbeck purchased the Celtics in 2002 for US$360 million.
It is rumored that one of the reasons for the sale is the contract amounts of the team’s two star players, Jaylen Brown and Jayson Tatum. Brown renewed his contract in 2023 for five years at US$304 million, while Tatum signed a new deal last year after winning the championship for five years at US$315 million. Their salaries are among the highest in the NBA.
However, by retaining these two superstars, the Celtics have further narrowed their salary cap space. If they wish to maintain their championship-winning roster, they may have to exceed the luxury tax line.
Tatum suffered a right Achilles tendon rupture during this year’s playoffs and is in doubt to return for the start of the new season, beginning on 21 October.
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