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CELTICS PARTNERSHIP ASSETS TAKE A BIG JUMP IN '94
Published December 14, 1994
The Boston Celtics Limited Partnership "dramatically beefed up its financial clout in a three-month period this year, virtually doubling its assets to $206 million," according to a report in today's BOSTON HERALD. The partnership borrowed $85M from Shawmut Bank between June 30 and September 30, and put the funds into short-term investments. The team "is apparently making use of the expected windfall from the pending sale" of WFXT-TV to Fox Television Stations Inc., which is currently tied up by NBC's FCC probe of Fox. Partnership and team execs "declined to elaborate on the likely uses of the added financial clout" (Steve Syre, BOSTON HERALD, 12/14).