Boston Basketball Partners, L.P., a local private investment group, today announced the signing of a definitive agreement to acquire the Boston Celtics basketball team of the National Basketball Association.
Co-Managing Partners of Boston Basketball Partners, L P. are Wycliffe (Wyc) Grousbeck, a General Partner at Highland Capital Partners, H. Irving Grousbeck, Co-Founder of Continental Cablevision, and Stephen Pagliuca, a Managing Director at Bain Capital.

"We are delighted to reach this agreement, but we fully understand that nobody really owns the Celtics except the people and basketball fans of Boston, the State of Massachusetts and New England," said Wyc Grousbeck, Co-Managing Partner of Boston Basketball Partners. "As long-time community residents and Celtics fans, our goal is to build on the success that has already been achieved by the team's strong management, coaching staff and players. We look forward to years of involvement with one of the greatest sports teams ever."

"The NBA has enjoyed tremendous growth and success by developing terrific young talent, and the Celtics are a great example of this philosophy in action," said Steve Pagliuca, one of the Co-Managing Partners. "The Celtics have always enjoyed a close relationship with this community, and we are committed to further strengthening that bond. We invite the active participation and tremendous energy of the local business community in support of one of the greatest franchises in professional sports."