An Exclusive Conversation With Boston Celtics Co-Owner Steve Pagliuca
Friends, Happy Monday! I hope everyone is relaxing and enjoying the longer 4th of July weekend in the United States. Rather than send out the normal sports business breakdown (which I’m sure many won’t read because being outside is 1000x better!) I wanted to pass along today’s podcast interview with Steve Pagliuca for consumption. Steve is the former co-chairman of Bain Capital, a private equity firm with $165 billion in assets under management. And he’s also one of the most well-respected people in the sports business. Steve teamed up with Wyc Grousbeck in 2002 to purchase the Boston Celtics for $360 million. The team wasn’t making any money at the time, and many people thought paying a record price for the asset was a bad idea. But the Celtics won an NBA Championship in 2008 and are now valued at more than $4 billion by Forbes. Steve also runs a large family office, investing in everything from multi-billion-dollar biotech companies to a majority ownership stake in Serie A football club Atalanta BC. So check out the interview and let me know what you think. We discuss the negotiation process behind buying an NBA team, how he values the world’s most prominent sports assets, the future of media rights, and more. Steve is one of the world’s most knowledgeable investors, and I think you will really enjoy it. Have a great day. We’ll talk on Wednesday. Huddle Up is free today. But if you enjoyed this post, you can tell Huddle Up that their writing is valuable by pledging a future subscription. You won’t be charged unless they enable payments.
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