The league said the transaction is expected to close shortly. When it does, Chisholm will take ownership of at least 51% of the team.
Boston Celtics player Enes Kanter, who called Xi Jinping a "brutal dictator", posted a video wearing a T-shirt of the Dalai Lama and criticising China treatment Tibet.
Paul Pierce scored 30 points to lead the Boston Celtics to a 93-79 victory over the Toronto Raptors on Sunday.