Over the final five months of the '99-2000 NBA season,
Celtics Chair Paul Gaston purchased more than 126,000 shares
of Celtics stock in 53 transactions, valued at more than
$1.2M, according to Peter May of the BOSTON GLOBE. The
smallest purchases were of 100 shares, made on six
occasions, while Gaston's biggest purchase of 11,000 shares
came on March 21. Gaston, on the purchases: "It simply
seemed like a good business decision. It is what it is."
May noted that Gaston paid "slightly less" than $10 per
share, which, "when factored out, puts the public value of
the team at an absurdly low" $55M. May: "That's what he
[Gaston] means by a good business decision, even though he
has not bought recently, when the shares were even lower in
value." Gaston and his family control more than 60% of the
team. Gaston and Celtics Exec VP, CFO & COO Richard Pond
say that "nothing has changed" regarding a possible sale of
the team. May: "Meaning that Gaston isn't shopping but is
willing to listen to any Godfather offers" (B. GLOBE, 9/17).
