Celtics Boosting Ticket Prices, Sponsorships Behind Finals Run

Celtics' Finals Run Boosts Ticket Prices, Sponsorships For '08-09 Season

OWNING UP: Celtics CEO & Managing Partner Wyc Grousbeck and Managing Partners Stephen Pagliuca and Bob Epstein appeared on CNBC’s “Squawk Box” this morning with CNBC’s Darren Rovell from the court of the TD Banknorth Garden. Grousbeck, on how profitable the team has been for this ownership group: “We put a lot of the profits back into the team, into the players, into the fan experience, but over the long haul we’ll probably be just fine.” Grousbeck did note the owners did receive “recently a big number” to purchase the team, but “we just decided we’re going to keep this until the end of time, so it’s not for sale” (“Squawk Box,” CNBC, 6/5). Grousbeck, Pagliuca and Epstein also appeared on Fox Business today, and Grousbeck said they run the team by “what’s best for the franchise, what’s best for the fans, what’s best to (win a championship.” Grousbeck: “If you do all of that and have some good luck … the business will follow. But you’ve got to start with the goal of trying to do something great for the team. Fans know whether or not the ownership is committed to that and then they’ll come and support you, and it all seems to work” (Fox Business, 6/5).

CLOSED BOOK: In Las Vegas, Arnold Knightly reports sports books at all Harrah's properties for the NBA Finals will "be turning bettors away," as Harrah's Chair & CEO Gary Loveman "owns a piece of the Celtics." Loveman in late '07 acquired a 2.4% stake in the team, prompting the NBA to "require Harrah's to not accept bets on any Celtics game." The restriction will affect "about a third of all of the sports books" on the Las Vegas Strip. Analysts believe the "potential lost revenue will not be enough to affect Harrah's bottom line," though sports book managers are "expecting more action on this series than any other in recent memory." Gamblers also will not be allowed to "bet on the Finals" at the Palms or the Silverton casinos, as those properties' owners "have stakes in other NBA franchises" (LAS VEGAS REVIEW-JOURNAL, 6/5). Meanwhile, the Celtics’ postseason is being sponsored by the Massachusetts State Lottery, and NBA Commissioner David Stern said, “Gambling is very much a facet and a factor in American life and the life of the world. Per se, we’re not against that. We used to be, but the rush of events has long overtaken any opposition to the gambling on a moral basis. For us the line in the sand is about gambling on the NBA, and that’s what we need to protect against” (CNBC, 6/5).

GOOD DEAL: Entercom VP & New England Market Manager Julie Kahn said that ad revenue growth "has been four-fold" since the company acquired the Celtics' radio rights in '05 for WRKO-AM. In Boston, Jessica Heslam reports the games "have been a boon to ratings" since Entercom signed the deal. The company renewed the deal for three more years last fall, and the games have been moved to sister station WEEI-AM (BOSTON HERALD, 6/5).

BOSTON PARTY: In Boston, Laura Crimaldi reports city workers have erected a 40-foot replica of the Larry O'Brien Trophy on Causeway Street outside of TD Banknorth Garden, and Modell's Sporting Goods also created a "giant Celtics T-shirt" outside City Hall. Boston Mayor Thomas Menino said that Modell's "plans to donate 5[%] of proceeds from the sale of Celtics T-shirts and other paraphernalia to the city's summer jobs program" (BOSTON HERALD, 6/5).

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