Celtics CEO Grousbeck Leads $21M Investment In Electric Racing Circuit
Boston Celtics Managing Partner & CEO Wyc Grousbeck "and a dozen of his co-owners in the NBA franchise" have invested $21M into the FIA's Formula E electric racing series, according to Jimmy Golen of the AP.. This will be the first major investment for Causeway Media Partners, which Grousbeck founded in May along with fellow venture capitalists Bob Higgins and Mark Wan, an investor in both the Celtics and 49ers. Causeway has raised about $100M to "invest in sports media and entertainment." Formula E CEO Alejandro Agag said that the "investment by American sports team owners is 'a game-changer'" (AP, 12/19).