Saturday, October 05, 2002
Investors seek answers in Celtics sale
Sixers star Iverson injures his finger
Enquirer staff and news services
In the pending $360 million sale of the Boston Celtics, a huge mystery remains: How much will the individual investors - loyal fans who have held the shares for years - reap in the record deal?
The answer has been startlingly elusive. The current owner, Paul Gaston, won't say, and the new owners have said they don't know how much the outside investors will get. Financial gurus who worked on the deal are perplexed about the particulars. And Celtics financial chief Richard Pond, perhaps the only person who understands the math, has been out of the country and not returning phone calls all week. Trading of the Celtics' public units has been halted on the New York Stock Exchange since last week, when the deal was announced, and the exchange won't explain why.
There hasn't been any communication at all, said John Daley, a Hamden, Conn., resident, who bought 10 units each for his three kids in 1987, when the team first sold shares to the public. He said the public investors, who own 48.3 percent of the team, according to the sale announcement, should get 48 percent of the purchase price. Any other approach, he said, would be grossly unfair.
Thursday, one Celtic investor, Breakwater Partners LP, filed suit in Delaware Chancery Court, charging that team directors have refused to disclose even the most basic details of the transaction.
Like Daley, most of the Celtics' investors own just a handful of shares. Many bought them for sentimental reasons, and for a chance to own a slice of their favorite team.
They've reaped dividend payments over the years, plus interest checks on debt securities they received in a complex refinancing of the team in 1998.
The jury deliberating the case against three men accused of stabbing Celtics star Paul Pierce was sent home for the weekend after a third day of deliberations ended without an announced verdict. Jurors were set to return Monday.
76ERS: Guard Allen Iverson hurt his finger during practice and was taken to the hospital for tests to determine the severity of the injury. Philadelphia coach Larry Brown said Iverson jammed the middle finger on his right hand.
CAVALIERS: Center Chris Mihm sustained a strained left hamstring during practice, an injury that's not as serious as initially feared.
Mihm got hurt during a full-court drill Wednesday night and had to be helped to the Cavaliers' locker room at Gund Arena.
An MRI taken at the Cleveland Clinic revealed only the strain. Mihm will be re-evaluated on a daily basis.
JAZZ: Joe Vogel, a 6-foot-11 center who played at Colorado State, was released from Utah's training camp because the Lebanese professional team he plays for won't let him out of his contract.
KNICKS: Latrell Sprewell might have broken his hand by throwing an errant punch at the boyfriend of a woman who vomited on his new yacht, the New York Post reported.
WARRIORS: Former Cincinnati Bearcats All-America guard Steve Logan hasn't signed a contract and isn't participating in Golden State's training camp. Negotiations are ongoing.
Bearcats players pay Huggins a visit
Offense comes to pass for RedHawks, Bearcats
MU goal: Keep up without Jones
Want a big game? Add bells, mountains or an axe
FSN Ohio agrees to televise at least 17 Musketeers games
NBA Pacers will open XU camp today
Colts defense top priority for Dungy
Receiver Farmer on verge of return
Back to the bench: Stewart can't figure out what went wrong
Angels 9, Yankees 6
Athletics 6, Twins 3
Maddux must prove himself in postseason
World champions try to avoid first-round sweep
Lots of long balls in playoffs
Hawk, Doggie back for Marlins
Station suspends DJ for on-air prank involving Kile's widow
Aiken 27, Belmont 6
Anderson 37, harrison 34
Batavia 44, Williamsburg 0
Bethel Tate 35, Clermont NE 0
CCD 55, Landmark Christian 28
Chaminade-Julienne 57, Purcell Marian 13
CHCA 37, Columbus Bishop Hartley 0
Clinton-Massie 33, Blanchester 0
Colerain 31, Oak Hills 13
CovCath-Highlands rescheduled for today
Dayton Dunbar 46, Western Hills 18
Dixie Heights 24, Conner 6
East Central 31, Lawrenceburg 7
Glen Este 21, Winton Woods 14
Goshen 14, Hillsboro 7
Holy Cross 36, Bellevue 6
Holy Cross 36, Bellevue 6
How Enquirer poll teams fared
Indian Hill 19, Wyoming 0
Indiana football scores
Kentucky football scores
Kettering Alter 28, Badin 14
Kings 42, Ross 13
Lakota West 33, Milford 21
Lebanon 7, Carroll 0
Lemon-Monroe 17, Talawanda 14
Lloyd 37, Newport 7
Loveland 35, Norwood 13
Madeira 29, Finneytown 0
Mason 39 , Northwest 21
Mauk sets national yards record
Meadowdale 34, Jacobs 6
Middletown 14, Fairfield 6
New Richmond 35, Western Brown 0
NewCath 48, Ludlow 0
North College Hill 44, Lockland 7
Ohio football scores
Prep football scores
Princeton 42, Lakota East 21
Reading 34, Deer Park 0
Ryle 24, Boone County 9
Scott 56, Grant Co. 6
Simon Kenton 26, Campbell County 22
St. Xavier 35, LaSalle 7
Sycamore 49, Hamilton 7
Taylor 17, Mariemont 14
Turpin 20, Amelia 12
Wilmington 6, Little Miami 0
Woodward 26, Shroder Paideia 0