BOSTON (AP) — The NBA on Wednesday unanimously approved the sale of the Boston Celtics to a group led by private equity mogul Bill Chisholm, a deal that values the franchise at $6.1 billion.

The league said the transaction is expected to close shortly. When it does, Chisholm will take ownership of at least 51% of the team, with full control coming by 2028 at a price that could bring the total value to $7.3 billion.

That's the largest price ever paid for an American professional sports team, though Los Angeles Dodgers owner Mark Walter has agreed to buy a controlling share of the Lakers in a deal that would place the value of the entire franchise at $10 billion. It’s not clear how much Walter would own; current owner Jeanie Buss is expected to retain at least 15% of the team.

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