Celtics President/coach Rick Pitino "has already revved
up the revenue" of the team, according to Gregg Krupa of the
BOSTON GLOBE. With an increase in attendance, season-ticket
sales and TV ratings, "it is clear that Pitino and his team
stanched the bleeding." Celtics Exec VP/Marketing & Sales
Stuart Layne: "He's reawakened fan enthusiasm in the Celtics
and it's beginning to show in every piece of business we
do." Average game attendance has increased 13.6% from
16,196 to 18,400 this season, which translates into a total
gate increase of $3.8M over the $31.8M the team reported in
'96-97. Season-ticket sales increased 26% since Pitino's
hiring, while the team's average TV rating is up from a 2.0
to a 3.0. But Krupa adds that some "sellouts" at the
FleetCenter have included a "substantial number of 'no
shows,'" suggesting the need for continued improvement next
year. The improved financial news has "done little, so far,
to bolster Celtics stock." The day Pitino was hired last
May, the stock hit its 52-week high of 28 7/8, and the low
of 18 13/16 occurred March 19. The stock closed yesterday
at 21 3/16, down 1/4 (Gregg Krupa, BOSTON GLOBE, 4/16).
CENTER COURT: Krupa adds that the Celtics are set to
break ground on a new $30M training and wellness center in
Waltham, MA. When it is completed in March, it is "expected
to be the only facility in the region in which health care
is linked to both hospitals and a professional sports team."
The 139,000-square-foot center will consist of the health
and wellness center, medical offices and the private
practice center (Gregg Krupa, BOSTON GLOBE, 4/16).
