Wyc Grousbeck, who has been a majority owner of the Boston Celtics since 2002, is no longer planning to stay on as the team's governor, stepping away from the role earlier than expected as new ownership takes over.

The sale of the Boston Celtics has been finalized. Private equity mogul Bill Chisholm has taken control of the NBA’s most-decorated franchise from a group led by Wyc Grousbeck that had owned them for more than two decades.

The deal will close in two phases, with Chisholm’s group taking 51 percent ownership now, and the balance closing in 2028.