Lead Boston Celtics Governor Wyc Grousbeck is an unabashed fan of the team he is a part owner of. Even with the enthusiasm he brings to the table regarding the on-court fortunes of the club, the Celtics are also an investment for Grousbeck — one he believes ought to become an increasingly popular option.
In a recent interview with The Street’s Dan Weil, Grousbeck shared “(i)nvesting in pro sports … has been the best business decision” of his life. “That’s not just for financial reasons, but for pure enjoyment and the ability to make an impact in the community.”
“I would be happy to see other people enjoy the possible benefits of being part of a pro team,” he added. “The Celtics themselves were publicly traded on the (New York Stock Exchange) before I organized my ownership group and took them private in 2002.”
Celtics Lab 173: On whether rest, seeding, or meshing matters most for the Celtics’ stretch run with Evan Valenti https://t.co/8eEFMnkxbL
— The Celtics Wire (@TheCelticsWire) March 3, 2023
“I can understand broad investor desire to participate in our teams because we offer diversification into a different type of asset class that may not be correlated with other markets,” suggested the Celtics owner.
“I think pro team valuations primarily reflect the thrill of being able to compete on a global stage,” related Grousbeck on pro sports teams’ potential to grow in value. “Owning a team is very enjoyable as a competitor and if you want to be able to give back to the community.”
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