The Boston Celtics have a new owner, and there's one thing that isn't going to change at the NBA's most-decorated franchise. “Coming in second is not the objective, and it’s not acceptable,” private equity mogul Bill Chisholm said Tuesday after taking control of the team from Wyc Grousbeck.

A group headed by Bill Chisholm is set to take control of the Boston Celtics after the NBA Board of Governors unanimously approved the sale on Wednesday.

The NBA has formally approved the sale of the Boston Celtics to an investor group led by Bill Chisholm. The league's approval comes nearly five months after the Celtics' ownership agreed to sell the franchise to Chisholm for $6.1 billion, a record for the most a North American professional sports franchise has ever sold for.