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SBD Global/October 11, 2012/Franchises

Glasgow Businessman Who Saved Celtic Buys 50% Stake In Glasgow Rocks

Glasgow businessman David Low has "become part-owner" of the British Basketball League team Glasgow Rocks, according to Hugh Macdonald of the HERALD SCOTLAND. Low, who "drew up the share-buying strategy" that allowed Canadian businessman Fergus McCann to take over Celtic in '94, has signed contracts giving him and Scottish entrepreneur and business partner Joe Grimond a 50% stake in the basketball team, which plays in the Emirates Arena. Low said that he viewed the Rocks as "both a business opportunity and as a chance to develop the community projects initiated by the club." He also said that the Rocks presence in a British League "gave good marketing opportunities and indicated the brand could grow." Low said, "Basketball is also a sport that can be developed in this country" (HERALD SCOTLAND, 10/10).
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