SBD/Issue 176/Franchises

Celtics Owners Use Financial Background In Team's Management

Wyc Grousbeck (2nd from l) Celebrating After
Celtics Victory In Eastern Conference Finals
Bain Capital Managing Dir Stephen Pagliuca and venture capitalist Wyc Grousbeck and his father, Irving Grousbeck, acquired the Celtics in '02 for $360M and then "sold off pieces of the team, working their network of elite contacts built up over decades," according to Peter Lattman of the WALL STREET JOURNAL. The Celtics are the team the "finance guys built." Each of the ownership syndicate's 25 members "made his fortune in private equity, venture capital or hedge funds." The various owners, who spent an "average of $10[M] each, dubbed themselves Banner 17, a show of their ambitions for the Celtics 17th NBA title." They are a "motley bunch, sometimes competing directly against one another for deals." The group applies "private-equity techniques to the team," and a "key investment tenet [is] hire good managers, and stand by them in good times and bad" (WALL STREET JOURNAL, 5/31). The following is a list of financiers who comprise the Celtics ownership group.

CELTICS OWNERSHIP GROUP
FINANCIER
COMPANY
Wyc Grousbeck
Highland Capital
Stephen Pagliuca Bain Capital Partners
Irving Grousbeck Stanford Business School
Paul Edgerley Bain Capital Partners
Glenn Hutchins Silver Lake Partners
James Pallotta Tudor Investment
Dominic Ferrante Brookside Capital
David Bonderman TPG
John Connaughton Bain Capital Partners
Joseph Lacob Kleiner Perkins
Jonathan Lavine Sankaty Advisors
Richard Aldrich RA Capital
Jim Breyer Accel Partners
David Roux Silver Lake Partners
William Helman Greylock Partners

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