Some breaking news this afternoon, the Boston Celtics are being sold.
From the breaking news section on Boston.com:
“Celtics owner Paul Gaston is selling his 48.3 percent stake of the team for $360 million to a partnership that includes venture capitalists Wycliffe K. Grousbeck of Highland Capital Partners and Stephen Pagliuca , a managing director of Bain Capital. The deal is subject to NBA approval. A 3 p.m. press conference is planned.”
It appears WEEI was first on this story, with Dale Arnold breaking the news sometime around 1:30. WWZN followed up a few moments later. As WWZN is the official radio home of the Celtics, you would think they would have it first. Arnold was first to get the details from Boston.com which you see above. He also has Steve Bulpett on the line almost immediately who was watching the Ryder cup and now has to go to work. From the websites linked above, both the guys mentioned appear to be fairly young guys. Eddie Andelman brought in Steve Burton who said channel 4 will be covering the press conference, and WWZN was attempting to get Jackie MacMullan on the line as well.
This whole process sure seemed to slip below the radar of anyone.
There is also now a more complete story on Boston.com, which includes this information: “Wyc Grousbeck apparently has wanted to own a Boston sports team for awhile. In March, Globe business columnist Steve Bailey reported that former Red Sox general manager Dan Duquette tried to stay with the team by telling the new owners that he could bring big money to the deal.
According to Bailey