Caught the press conference as it was being broadcast on NECN from Healthpoint. Paul Gaston opened by saying his mood today was like the weather outside, and his feelings were very ambivalent. He said the Celtics are like one of the children, very dear to him, but it was time to move on. Wycliffe Grousbeck was the first of the new owners to speak, he talked about it being a tremendous honor to be there, and as he talked about the history of the Celtics, the players and coaches that won so many championships, he gazed upward at the many banners hanging overhead. He said their goal is to raise more of them. Grousbeck said during this process he wasn’t sure if they were going to be able to keep it all a secret, but they managed to do so pretty well. As far as the roles, he will be the front man, will be involved in the day to day operations, the other two partners at this time, his father, H. Irving Grousbeck and Stephen Pagliuca will sit on the board and be more behind the scenes. They are looking at adding additional investors and partners, and have many offers already lined up for these spots.
Stephen Pagliuca spoke next, talked about always loving basketball and the Boston Celtics, he lauded the “fantastic management team” that they have in place, from the GM down to the coach, and that they hope to be like the Krafts and bring championships to Boston. They clarified that the price was $360 Million for 100% of the team, not just Gaston’s 48.3%. The public shareholders will be being bought out, and Gaston said they will benefit from the sale. The new owners clearly appear giddy at times, Pagliuca mentioned that he only told his wife this morning about them buying the team. While they were speaking, NECN showed Jim O’Brien, Lester Connor, Chris Wallace and Leo Papile watching from above on one of the balconies and Pagliuca made sure to compliment them again, say what a great job they’ve done, emphasized that there is no need in this transaction to be making changes, they will keep continuity here.