On this day in Boston Celtics history, the Boston Basketball Partners, L.L.C. announced that they had completed the purchase of the Celtics NBA basketball franchise from the previous owners in 2002.
Boston Basketball Partners is an investment firm made up of a managing board comprised of Wyc Grousbeck, H. Irving Grousbeck, Stephen Pagliuca, and The Abbey Group (consisting of Robert Epstein, Paul Edgerley, Glenn Hutchins, and James Pallotta), who together purchased the team from owner Paul Gaston. Previously announced on September 27th that the partners would purchase the team pending NBA approval, the investment group issued a press release formally announcing the transfer of the club.
“We are extremely excited to be a part of the glory and tradition that is the Boston Celtics,” related Managing Partner H. Irving Grousbeck via the Celtics.
“This is an amazing opportunity to be part of one of the greatest sports teams in history, and to try to use that position to do good things for the community we are a part of,” offered Managing Partner Steve Pagliuca.
“I am pleased to join my partners the Grousbecks and The Abbey Group, as well as our fellow Executive Committee members and Board members, in this quest to help the team continue to strive for excellence.”
“This is the thrill of a lifetime,” offered Managing Partner and CEO of Boston Basketball Partners Wyc Grousbeck.
The changing of the guard would be part of the recipe for the Celtics’ 17th championship, won a half-decade later in 2008.
Finally, it is also the birthday of former Boston Forward Hal Crisler. Born in Richmond, California in 1923, the Iowa State alum played for the Celtics for just 4 games in their inaugural season of 1946-47.
Crisler averaged 1.4 points per game over that stretch — rest in peace.
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