SBD/3/Franchises

CELTICS ISSUE RESPONSE TO FINANCIAL WORLD PIECE

     In a letter to the editor released to THE SPORTS BUSINESS
DAILY, Celtics CFO Joseph DiLorenzo accused FINANCIAL WORLD of
including "numerous errors of fact" and  drawing the "erroneous
conclusion" that the Boston Celtics Master Limited Partnership
has been a poor investment for its 93,000 public unitholders.  In
its May 9 issue, FINANCIAL WORLD examined the Celtics stock
concluding, among other things, that the recent sale of Boston TV
station WFXT to Fox was a good deal for the general partners, but
a bad one for the numerous limited partners.  DiLorenzo writes,
"Nothing could be further from the truth.  In fact, when the
Celtics repurchased the TV station in 1993, the principal
partners effectively reduced their own stake in the extremely
profitable TV station from 83 percent to 60 percent, before Fox's
option to purchase presented itself, which benefited all
unitholders of the Boston Celtics Limited Partnership.  The
article also insinuated exclusive profits from an affiliated
television sale that never took place and incorrectly stated both
the price of the Initial Public Offering and per unit
administrative costs associated with the master limited
partnership."  DiLorenzo concluded by stating that ownership,
chaired by Paul Gaston since '92, "has raised the net asset value
of the company and has increased cash flows dramatically.  As an
organization, the Celtics take as much pride in delivering for
our investors as we do in delivering for our fans" (Celtics).
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