Boston, Massachusetts - The NBA's Boston Celtics are being sold to the head of a California private equity firm for $6.1 billion, a record price for a US sports franchise, The Boston Globe reported Thursday.

The newspaper, citing a league source, said the Celtics ownership had agreed to sell the iconic team to William Chisholm, managing director and co-founder of Symphony Technology Group.

It said the $6.1 billion purchase price is the highest ever offered for a North American sports team, surpassing the $6.05 billion paid for the NFL's Washington Commanders in 2023.

The sale of the Celtics, the current NBA champions, still requires the approval of the NBA Board of Governors.

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The team is one of the most storied in the league's history, with a record 18 championships.

Chisholm, a Massachusetts native, is a longtime fan of the team, according to the Globe.

The new ownership group reportedly also includes current Celtics co-owner Robert Hale, president of Related Companies Bruce Beal Jr., and the global investment firm Sixth Street.

The Gloe said three other buyers had been under consideration: Steve Pagliuca, a Celtics co-owner, Stan Middleman, a co-owner of MLB's Philadelphia Phillies, and The Friedkin Group.

The Grousbeck family and Pagliuca bought the Celtics for $360 million in 2002.

Three NBA teams were sold in 2023: the Phoenix Suns for $4 billion, the Milwaukee Bucks for $3.5 billion, and the Dallas Mavericks for $3.5 billion.