Expert: Fabio Anderle - 5/13/2011

Question
What did the Celtics buy the stock back at and what of those that are still holding their stock?

Answer
Ernie,

when Paul Gaston sold Celtics ownership to local investment group "Boston Basketball Partnership" all individual owners of stock had to resell their shares back to the BBP, as per their agreement with the NBA.  Before the deal was made public, Celtics units closed at $10.60 each, but new owner Wycliffe Grousbeck and his partners later said the 58,000 unit holders would get $27 in cash for each unit.
Certificates right now make for a nice collectible, but they're no longer worth anything on the stock market.


Fabio