Expert: Fabio Anderle - 10/25/2007

Question
I am currently holding Boston Celtic share certificates I bought in the 80's.  I was unaware they were called in 2002 until I read your answer on this site.  What do I do with them?  Are they of any value?  Who do I contact?


Answer
Hi Bobbie,

as I wrote before, when former owner Paul Gaston sold Celtics ownership to Wycliffe Grousbeck's local investment group Boston Basketball Partners L.L.C. in September 2002, all individual owners of stock had to resell their shares back to the BBP, as per their agreement with the NBA once ownership of the team became finalized. If you want to sell your share, you should contact "Boston Basketball Partners L.L.C. (151 Merrimac St. Boston, MA 02114-4714, Phone: 617-854-8000, Fax: 617-367-4286) and ask them directly what you should do. Just to give you a hint on the possible stock value, before the deal was made public, Celtics stocks closed at $10.60 each. But Grousbeck, on behalf of Boston Basketball Partners L.L.C., later said the 58,000 unit holders would get $27 in cash for each stock.
probably the best course of action should be calling the Celtics and ask what to do. I am sure, though, that if you want to make the most of it, selling it to another Celtic fan would be more lucrative than trying to collect the share's face value....


Fabio