The Boston Celtics Sell Shares in the Team
At a glance:
- Series: Great Events from History II: Business and Commerce Series
- Categories: Economics, Sports
- Subcategories: Business
- Curriculum: American History 1951-present
- Geographical Location: New England, Boston
- Date: December 3, 1986
Article abstract: The Boston Celtics basketball team set a precedent as the first sports franchise to go public in the form of a limited partnership.
Summary of Event
On December 3, 1986, business and sports history was made when, for the first time, a sports franchise went public in the form of a limited partnership. The Boston Celtics basketball team sold 40 percent ownership of the franchise as limited partnership shares to the general public. The team owners, Don F. Gaston, Paul R. Dupee, Jr., and Alan N. Cohen, retained and controlled 59 percent...
[The entire page is 1740 words long]