Boston Celtics sale is done. Bill Chisholm takes over as owner of NBA’s most-decorated franchise.

Boston (AP) The Boston Celtics were sold on Tuesday, and Wyc Grousbeck’s organization, which had owned the team for more than 20 years, gave it to private equity tycoon Bill Chisholm. The Boston Celtics are the most decorated team in the NBA.

Shortly after winning its record 18th NBA championship, the club was placed on the market last summer.With an offer worth over $6.1 billion, the most amount ever paid for an American professional sports team, Chisholm won the bidding in March.

The money was transferred on Tuesday after the NBA unanimously approved the arrangement last week.

At a price that might reach $7.3 billion, Chisholm acquires at least 51% of the team, with complete control expected by 2028. Although a portion of the Los Angeles Lakers sold this summer for a price that would have valued the entire team at $10 billion, that is the highest price ever paid for a team in the four major North American sports.

In 2002, Grousbeck led a group that paid $360 million to acquire the Celtics. The Celtics made the playoffs 20 out of 23 seasons while they were owned, won two NBA titles, and lost twice in the finals.