Steve Pagliuca (right) was a bidder for the Celtics, but his offer fell short.
Steve Pagliuca (right) was a bidder for the Celtics, but his offer fell short.Charles Krupa/Associated Press
Celtics co-owner Steve Pagliuca, part of the ownership group that purchased the franchise in 2002, appears to have missed out on an opportunity to take control of the team, as the Celtics were sold Thursday to a consortium headed by William Chisholm.
Pagliuca, a co-chairman at private equity giant Bain Capital, was an obvious candidate to purchase the team the moment the Grousbeck family announced a planned sale last summer. But Pagliuca’s group couldn’t close the deal.
Here’s what Pagliuca had to say about the sale in a statement released Thursday.
“Since the Grousbeck family announced it would sell the Boston Celtics almost 9 months ago I have worked tirelessly to put together a strong bid centered around the great majority of existing owners of the team, who understand and appreciate what it means to be a steward of the Boston Celtics, a team steeped in Championship tradition. Additionally, 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.
Here's my statement on today's news. pic.twitter.com/lhKCslEcgF
— Steve Pagliuca (@pagsceltics) March 20, 2025
“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.
“I want to thank all of the players and fans over these many years that have supported us in rebuilding the team and winning two championships. We couldn’t have done any of this without you. As the grandson of Italian immigrants who came to America with only their willingness to work hard to be part of the American dream, I am thankful that I have been able to be part of the Celtics history and legacy, and I will be forever grateful for all the memories along the way.
“As Red Auerbach said, ‘the Celtics are not just a basketball team, but a way of life,’ and my family and I will continue to be lifelong fans and cherish the honor of being part of the organization for so many years. I will never stop being a Celtic, and if the announced transaction does not end up being finalized, my partners and I are ready to check back into the game and bring it home, to help continue what the Celtics do best — win.
“Let’s go Celtics!”
Amin Touri can be reached at amin.touri@globe.com.