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.

The Boston Celtics now officially belong to Bill Chisholm. The investor group led by the Chisholm has completed its acquisition of the majority control of the franchise, the Celtics announced Tuesday.

Further details of the Celtics sale, including more co-owners, were released by the team following approval from the NBA's Board of Governors.