Report: Fully financed offer on table from another buyer for Celtics if deal falls apart
Report: Fully financed offer on table from another buyer for Celtics if deal falls apart
With the major news dropping Thursday of the sale of the Boston Celtics to William Chisholm, there was also news that if the deal were to fall apart, there's a bigger deal on the table. According to WCVB, current Celtics co-owner Stephen Pagliuca had a reported fully financed deal on the table to buy the team, but current owner and governor Wyc Grousbeck chose to take the offer from Chisholm, which is reportedly for $7.3 billion and is the biggest sale of a sports franchise in North American history.
Duke Castiglione of SportsCenter 5 reported that the deal with Chisholm is not fully financed, which is important to note in regard to Pagliuca's pursuit of purchasing the team. Following the news of the sale, Pagliuca released a statement, with one eye-opening statement that the offer he had on the table was fully financed.
"We made a fully guaranteed and financed offer at a record price, befitting the best sports fans in the world, and with all the capital coming from individuals who are fully committed to winning on and off the court. We had no debt or private equity money that would potentially hamstring our ability to compete in the future. We have felt it was the best offer for the Celtics. It is a bid of true fans, deeply connected to Boston's community, and we've been saddened to find out that we have not been selected in the process."
While it may be unlikely, it is essential to remember that the deal from Pagliuca is still on the table if the deal with Chisholm falls apart. For now, it is Chisholm who will be the new team owner, with Wyc Grousbeck also agreeing to remain on as governor and CEO for the first three years of the deal.
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