Celtics Owners Use Financial Background In Team's Management
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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.
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CELTICS OWNERSHIP GROUP
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FINANCIER
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COMPANY
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Wyc Grousbeck
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Highland Capital
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| 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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