The Boston Celtics reportedly were sold on Thursday, with a transition of power soon set to take place between Wyc Grousbeck and William Chisholm.
Steve Pagliuca won’t be part of that transition.
Pagliuca, a minority owner in the club, was the only person to publicly state his intentions of being part of the bidding process. Grousbeck ultimately decided to head in a different direction with the sale, prompting a strong response from his now-former partner.
“I recruited new partners with deep resources and expertise in technology and international markets to maximize the Celtics successes to ensure we can always compete for Championships, luxury taxes be damned. We made a fully guaranteed and financed offer at a record price, befitting the best sports fans in the world, and with all the capital coming from individuals who are fully committed to winning on and off the court.
“We had no debt or private equity money that would potentially hamstring our ability to compete in the future. We have felt it was the best offer for the Celtics. It is a bid of true fans, deeply connected to Boston’s community, and we’ve been saddened to find out that we have not been selected in the process.”
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You can read the full statement here.
Pagliuca’s disappointment certainly is understandable, as he believes he put together the best offer even after learning the terms of the final sale.
The Boston Globe reached out to Pagliuca, though he did not respond when asked for comment.
Featured image via Peter Casey/Imagn Images
