|What we know about Celtics’ financial situation||07.21.11 at 4:10 pm ET|
In case you haven’t heard, NBA owners have locked out their players, and the outlook appears grim, as Celtics owner Wyc Grousbeck is among a group willing to lose the entire 2011-12 season over the labor dispute.
Grousbeck and the rest of the ownership group purchased the Celtics in late 2002 for a then-record $360 million, taking on $180 million in debt. Forbes.com valued the franchise at $452 million after their near-title 2009-10 season, a 65.0 percent increase in value since the 2001-02 season.
Before we put how much the Celtics have made — and stand to make — from their new TV deal into perspective, let’s take a year-by-year look at how the Celtics have done financially since the current owners took helm …
|Report: Celtics to sign lucrative broadcasting deal||07.18.11 at 1:29 pm ET|
Celtics owners would probably rather this news come when they aren’t locking their players out while the NBA cries poor, but the C’s and Comcast SportsNet New England are finalizing a broadcasting rights extension that should benefit the team by tens of millions of dollars — if not nine figures — per year, according to a Sporting News report.
Unlike the Red Sox, the Celtics do not currently own the network that broadcasts their games, but this 20-year extension would reportedly give Wyc Grousbeck, Steve Pagliuca & Co. a 20 percent ownership stake in Comcast’s regional sports network.
The NBA would have to approve such an agreement, and that might not happen until after the lockout. How much the Celtics take home from the reported deal will also depend on the collective bargaining agreement, as revenue sharing like this is at the heart of the negotiations.
The Celtics and CSNNE began discussions a year ago, and talks started steamrolling in February once the rival Lakers signed a 25-year deal with Time Warner Cable worth an estimated $200 million annually, the Sporting News said. According to a February Sports Business Journal report, the Lakers (4.9) and Celtics (4.8) ranked fourth and fifth in television ratings this past season. Here’s how the Sporting News broke down the financials …
|Is Wyc Grousbeck willing to lose entire NBA season?||07.01.11 at 9:30 am ET|
The NBA officially entered a lockout at 12:01 a.m. on Friday, and while positive signs are emerging from the NFL camp, more and more questions are developing about whether NBA owners and players can negotiate a collective bargaining agreement before the league starts losing games.
In fact, some owners are willing to lose the entire 2011-12 NBA season in order to get what they want, and Celtics owner Wyc Grousbeck is among them, according to Yahoo! Sports columnist Adrian Wojnarowski:
Back in the labor talks of 2005, Celtics owner Wyc Grousbeck would say over and over in the negotiating sessions: The lockout is an investment.
Grousbeck smartened up, kept that thought to himself, but rest assured the mindset hasn’t changed. He’s one of the owners believed to be willing to lose the next season, along with Phoenix’s Robert Sarver.
While the Celtics are thought to be one of the few teams that could actually benefit from a shortened season — considering the aging legs of Paul Pierce, Kevin Garnett, Ray Allen and Jermaine O’Neal — only Grousbeck would benefit from a lost season, as $31.2 million worth of Garnett and Allen would come off the books. That is, unless you think Dwight Howard is wearing green if and when the 2012-13 season comes around.
|Highlights from Wyc Grousbeck and Bob Epstein’s appearance on The Big Show||06.23.11 at 4:49 pm ET|
On the day of the NBA draft, Celtics owners Wyc Grousbeck and Bob Epstein joined The Big Show to talk about a myriad of topics including how the 2011 season ended, the Doc Rivers contract extension and even just precisely who Danny Ainge would have selected had he had the first pick in the 2007 NBA draft (hint: he led the NBA in scoring last season).
Here’s a transcript of that interview. (To hear the entire segment, visit The Big Show’s audio on demand page.)
On how the season ended:
WG: You know what they say, the ring adds 10 years. No, we’re all wearing the rings but we want another one. We had a good shot this year. They beat us fair and square, but we had a good shot. If Rondo doesn’t go down and practically break his arm in that deathhold that he was in and some few other things happened, but they beat us fair and square. This team might have a chance a la Dallas, along those lines, to contend next year if we can get them some help. That’s probably Plan A.
On continuing on the same course:
WG: That’s the question. First of all, we don’t want to talk about roster moves in depth on air before they’re even thought of. … Also, we’d have to consider if we did decide to change things wholesale, would you be able to get a contending team back in the near term? That’s part that goes into it. We consider this team as a good team. It needs to get better. We’re going to try to do that. Read the rest of this entry »
|Wyc Grousbeck on D&C: ‘I want Miami to lose so badly’||05.25.11 at 9:56 am ET|
Celtics co-owner Wyc Grousbeck joined the Dennis & Callahan show Wednesday morning during a charity benefit for the Massachusetts Soldiers Legacy Fund at the Mandarin Oriental Hotel in Boston. To hear the interview, visit the Dennis & Callahan audio on demand page.
After the Celtics lost to the Heat in the Eastern Conference semifinals, Grousbeck was asked if he is still watching the playoffs. “I am watching this year because I want Miami to lose so badly,” he said, adding “I’m rooting hard against the Heat.”
Grousbeck said he will be rooting for the Mavericks the rest of the way because of his relationship with Mavs owner Mark Cuban. Said Grousbeck: “I love the guy. … He’s just a good guy. He genuinely roots for us against other teams. He is a Celtics fan when he’s not a Mavs fan. And we’re going to return the favor.”
Grousbeck did give the Heat credit. “I thought they outplayed us in the series,” he said. “They had more juice. They had more pop. I can’t really deny that. I would have loved to take that Monday night game in Boston and make it 2-2 and see what happened. I think we might have won the thing. But I don’t really regret with like a huge missed chance. I’m just annoyed we didn’t beat them.”
When asked about the trade of Kendrick Perkins, Grousbeck said he felt Perkins was not the difference in losing to the Heat. “I love Perk, but I don’t think our issue was guarding their 5 spot,” he said. “Our issue was guarding their 2, 3 and 4. So, not only did we need Jeff Green, we needed about three more of him.”
Grousbeck played down the chemistry factor. “We had gotten that far in the season without Perk. He hadn’t played essentially the entire season,” Grousbeck said. “So, we were starting the games with [Shaquille O'Neal] and finishing the games with [Glen Davis]. And that would have continued in the playoffs if Perk was there. So, Perk wouldn’t have been starting if Shaq had been healthy.
“Where the plan fell short is Shaq not being able to come back; we thought he could.”
|Wyc Grousbeck on M&M: Kendrick Perkins ‘was going to walk’||04.29.11 at 1:11 pm ET|
Celtics co-owner Wyc Grousbeck stopped by for a visit with the Mut & Merloni show Friday afternoon as the C’s prepare for their second-round series against the Heat. To hear the interview, go to the Mut & Merloni audio on demand page.
Grousbeck discussed the trade with the Thunder that sent Kendrick Perkins to Oklahoma City. “We’re not here to trash Perk,” Grousbeck said. “What we’re here to say is, We needed, obviously, a backup for Paul [Pierce] and Ray [Allen]. This series will show, somebody needs to come in with quality ‘ Jeff Green ‘ and step up. And that’s how, hopefully, we can give these guys a fight.”
Added Grousbeck: “We love Perk. We miss him, no question. But we didn’t need another center as much as we needed someone to back up Paul and Ray. That’s the theory of the trade. We’ll see how it works out.”
Regarding Perkins’ contract issues, Grousbeck said: “Perk was going to walk at the end of June. That was clear. We offered him everything we could, and it wasn’t enough.”
Grousbeck insisted the trade is as much about this season as the years ahead. Said Grousbeck: “It’s also a trade for the future. But our principal idea is, Improve for this year if we can, and what are the pros and cons. And you back Danny [Ainge]. Danny’s got us to the championship, and I’m right there with him. The rest of us are all right there with him.”
|Glen Davis: I love Doc Rivers but wish he would ‘pipe it down sometimes’||01.05.11 at 11:42 pm ET|
Following his most productive night of the season in the scoring column, Davis said coach Doc Rivers continues to give him plenty of tough love this season. But Davis added that Rivers is working with him this season harder than ever to get the most out of him.
‘He has, he has worked with me,” Davis said after scoring a season-best 23 on 10-of-18 shooting from the field. “He’s given me the opportunity to show what I got. He is still hard on me. He’s still hard. It’s like a love hate thing. It’s like you love it but pipe it down sometimes.”
Asked to describe their relationship, Davis – who detailed his new role as father in December -said it’s a very complicated, but effective one.
‘For sure father son, like step-son,” Davis said of Rivers. “He loves me. But it’s like I still love you, but I’m hard on you. It is what it is.”
Davis and Rivers got into a heated argument on New Year’s Eve when the Celtics lost to the Hornets at the Garden, with Davis missing an ill-advised three-pointer to tie it late. Rivers afterward said Davis was guilty of playing too much “hero-ball.”
But then there was the loving part of their relationship, which Rivers clearly showed after Wednesday’s dramatic win, not possible, according to Rivers, without him.
“I’ve been saying it all year, he’s been terrific,” Rivers said. “Baby has his days but overall, he’s had very few of them. He’s been terrific all year. He’s had a tremendous team attitude in a contract year, which is very difficult. I don’t think he gets enough credit for that part of it. The only time he gets himself in trouble is when he forgets he’s Glen Davis, and I don’t know how you can forget something that big, personally.”
Rivers didn’t stop there, maintaining the team’s 27-7 mark wouldn’t be possible without Davis.
“He’s just been fantastic,” said the Celtics coach. “Our record is where it’s at because Glen Davis is on our basketball team. The minutes, playing him at four, playing him at five, he’s just turned into a terrific player for us.”
Speaking of contract, Davis is in the final year of a two-year, $6.3 million deal, a situation Davis said he’s not worried about – for now. When owner Wyc Grousbeck and GM Danny Ainge are ready, Davis will be ready to listen.
“Contract? You know what, I’m going to be honest with you,” Davis began. “Do you think about your job? You do, right. Man, I hope I get that next bonus or that next check. You have to think about it but you try to stay within yourself and the team and know that it’s going to happen. You have to control yourself. You can’t control what Danny or Wyc might put on the table. You just have to control yourself. That’s what I’ve come to realize. You have to keep wishing and don’t worry about that kind of stuff.”
‘He’s given us a big spark for us playing for Kevin, the things he’s given us off the bench as a sixth man, probably the best sixth man in basketball right now if you ask me,” Pierce said. “He’s doing a lovely job at that, we’re asking him to do so many jobs, things that Kevin does, asking him to duplicate what Kevin does, but defensively he’s really given us a spark, offensively the way he spreads the floor. I just get on him a little bit, when it comes to rebounding but he’s playing great’