The Boston Celtics have entered a transformative era, reshaped by a landmark ownership transition, a devastating injury, and a strategic reset poised to redefine their future. In August 2025, Bill Chisholm’s investor group completed its $6.1 billion acquisition of the team, a record-breaking valuation for an NBA franchise at the time of the agreement, though later surpassed. Yet, the path to this moment has been turbulent, marked by seismic shifts that have tested the franchise’s resilience.

In the five months since Chisholm first agreed to buy the Celtics from the Grousbeck family, the franchise has undergone seismic changes. Nearly $300 million in salary and luxury tax obligations were cleared, the roster lost key championship contributors, and, perhaps most devastating of all, franchise cornerstone Jayson Tatum ruptured his Achilles tendon in May, ending Boston’s hopes of defending its 2024 NBA title. At the same time, even the succession plan for leadership had to be rewritten when the NBA ruled that outgoing lead governor Wyc Grousbeck no longer met ownership requirements.

Yet, through all this turbulence, Chisholm insists the Celtics’ vision hasn’t wavered. The lifelong Boston fan turned NBA lead governor now carries the responsibility of steering the franchise forward, and that means setting the course for how the Celtics will compete in the upcoming season without Jayson Tatum.

Originally, Grousbeck was expected to remain the team’s lead governor until 2028, allowing Chisholm time to gradually assume control. But the NBA requires a governor to own at least 15% of a franchise, and Grousbeck’s stake dipped below that threshold after the investor pool expanded with high-profile names like Aditya Mittal, CEO of ArcelorMittal, joining the group. The demand for shares diluted Grousbeck’s position.

That technicality forced the NBA’s hand. Chisholm immediately became lead governor, while Grousbeck shifted to CEO and alternate governor. Both men have brushed off the change as cosmetic. “The day-to-day operational approach here is the same as it ever was,” Chisholm explained, while Grousbeck emphasized they remain “shoulder to shoulder.”

For Celtics fans, the message is clear: the new ownership structure is less about hierarchy and more about continuity. The vision is still aligned, Boston isn’t rebuilding, it’s resetting with an eye on more banners.

Of course, the headline challenge for Boston isn’t just financial restructuring, it’s playing without Jayson Tatum. The All-NBA forward ruptured his Achilles in the 2025 Eastern Conference semifinals against the Knicks, requiring surgery and putting his entire 2025-26 season in jeopardy. Brad Stevens has made it clear there will be no rushing his recovery, with medical precedent suggesting a return could take 10–12 months, meaning Tatum might not be fully ready until the 2026-27 campaign.

That leaves Chisholm, Stevens, and coach Joe Mazzulla to answer the pressing question: Can the Celtics still contend without their superstar? Chisholm’s response is emphatic. “We’re not playing for second; we’re playing for championships and banners,” he said. “We’re playing for them in the near term… but also the medium and long term.”

Jaylen Brown’s spotlight moment in Jayson Tatum’s absence

The first part of that plan is simple: Jaylen Brown becomes the face of this team in Jayson Tatum’s absence. Fresh off knee surgery but ahead of schedule in rehab, Brown is preparing for a season where his responsibilities will soar. The Celtics went 8-2 in games without Tatum last year, even winning a playoff game by 25 points in the immediate aftermath of his injury, largely behind Brown’s do-it-all performance.

Not everyone is convinced, though. Celtics legend Bob Cousy recently voiced skepticism, saying, “Jaylen is not quite at the superstar level that Tatum is at,” and questioning whether he can “carry the load by himself.” That doubt adds intrigue. Can Brown rise to the challenge and quiet the critics? Or does this season prove the Celtics still need Tatum at the helm to truly contend?

While Brown shoulders the spotlight, Chisholm and Stevens are betting heavily on the depth around him. Derrick White, Payton Pritchard, and newly extended coach Joe Mazzulla are all viewed as pivotal to the franchise’s resilience. Players like Pritchard have voiced confidence, saying, “We will put a good team together, a lot of competitors.” Veteran Torrey Craig echoed the sentiment: “Even without JT, this team could still compete for a championship.”

Mazzulla’s contract extension underscores that ownership sees him as part of the long-term solution. His ability to develop players and foster an underdog identity is being put to the test. Chisholm summed it up perfectly: “When [Mazzulla] doesn’t have the loaded team, what can he do? I think that’s going to be really interesting, and I have every confidence he’s going to crush it.”

On the surface, the Celtics’ shedding of contracts like Jrue Holiday and Kristaps Porzingis looked like a cost-cutting purge. But in reality, it’s a calculated move. By dipping below the luxury tax and eventually escaping repeater penalties, the Celtics will be positioned to spend aggressively again in the future, likely aligning with the return of Jayson Tatum.

It’s a high-wire act: sacrifice some short-term comfort for long-term flexibility. And Chisholm has made it clear this isn’t about being frugal; it’s about timing the franchise’s next big push. “The second apron means you can’t do it by just throwing money at the problem,” he explained. “You have to do it with talent, you have to do it with leadership.”

For now, Celtics fans will have to embrace a team that looks different from the one that hoisted the trophy in 2024. Brown, White, and Pritchard may not carry the same star power as Jayson Tatum, but history shows the Celtics can still win games without him. The ownership transition is complete, the financial reset is underway, and the blueprint is set: survive this season, build momentum, and welcome Tatum back to a reloaded roster ready for another championship run.

The question is: will this underdog Celtics squad surprise everyone in 2025-26, or will Boston ultimately need to wait for Jayson Tatum’s return to truly chase banner No. 19?