The Boston Celtics have finally been sold for $6.1 billion to Bill Chisholm who has been categorized as a “lifelong fan” after the team was put on sale last year. While the NBA will be experiencing the impact of the Celtics sale, team co-owner Steve Pagliuca took to social media to reveal his bid for the team which ultimately wasn't accepted.
Pagliuca released a statement on X, formerly Twitter, saying that he has “worked tirelessly to put together a strong bid” to buy the team and even said that his team “felt it was the best offer.”
“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,” Pagliuca wrote. “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.”
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“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,” he continued. “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.”
Celtics co-owner Steve Pagluica on being “lifelong fans” of the team
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Boston Celtics owner Steve Pagliuca during the Skills Challenge during the 2022 NBA All-Star Saturday Night at Rocket Mortgage Field House.
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Subsequently, as the Celtics look to defend their championship led by Jayson Tatum, Jaylen Brown, and a myriad of other talent, it will be under new ownership. Still, Pagliuca would say in his statement that it's been an honor to be part of the organization.
“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,” he wrote. “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,” he continued. “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.”
Boston is 50-19 which puts them second in the East, taking on the Utah Jazz on Friday.