On This Day: Boston Basketball Partners Announce Purchase of Team
On December 31, 2002, the Boston Basketball Partners LLC announced their purchase of the Boston Celtics, one of the most storied franchises in NBA history. This moment marked a turning point for the team, bringing fresh leadership and a renewed commitment to restoring the Celtics’ legacy of excellence.
The Boston Basketball Partners, a group of local investors led by Wycliffe “Wyc” Grousbeck, Stephen Pagliuca, and others, acquired the team for an estimated $360 million. Their mission was clear: to revitalize the Celtics both on and off the court. They sought to build a championship-contending team while maintaining a strong connection to the community.
Under their stewardship, the Celtics experienced a resurgence. In 2008, the team won its 17th NBA Championship, led by the iconic trio of Paul Pierce, Kevin Garnett, and Ray Allen, along with head coach Doc Rivers. This victory was a testament to the group’s vision and dedication to returning the franchise to its former glory.
The Boston Basketball Partners’ emphasis on fostering a winning culture, enhancing fan experiences, and investing in player development has solidified their reputation as stewards of one of the NBA’s most beloved teams. Their leadership continues to shape the Celtics’ pursuit of success in the league.
