Boston Celtics Limited Partnership 1987

Boston Celtics Limited Partnership 1987

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Boston Celtics Limited Partnership 1987
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Beautifully engraved certificate from the Boston Celtics Limited Partnership issued in 1987. This historic document was printed by the American Banknote Company and has an ornate border around it with a vignette of the Boston Celtic Logo. This item has the printed signatures of the company’s president, chairman of the board, and treasurers and is over 13 years old. This was a temporary certificate issued when the Celtics went public. Most of these were redeemed for a permanent certificate which makes this hard to find and quite collectible. Boston Celtics Limited Partnership (BCLP) is a limited partnership, formed on April 13, 1998, that owns a 99% limited partnership interest in Boston Celtics Limited Partnership II (BCLP II), which owns a 99% limited partnership interest in Celtics Limited Partnership (CLP). In addition, BCLP II wholly owns Celtics Investments, Inc. (CII) and BCCLP Holding Corporation (Holdings), which wholly owns CCC. Together, Celtics Capital Corporation (CCC) and CLP wholly own Celtics Pride GP. Celtics Pride GP owns a 48.3123% limited partnership interest in Celtics Basketball Holdings, L.P. (Celtics Basketball Holdings), which owns a 99.999% limited partnership interest in Celtics Basketball L.P. (Celtics Basketball), which in turn owns and operates the Boston Celtics. The remaining 51.6867% limited partnership interest in Celtics Basketball Holdings, L.P. is held by Castle Creek Partners, L.P. (Castle Creek). The 1% general partner of BCLP is BCLP GP, Inc. (BCLP GP), a corporation whose sole stockholder is Paul Gaston, and the 1% general partner of BCLP II is BCLP II GP, Inc. (BCLP II GP), a wholly owned subsidiary of Celtics, Inc. BCC is the 1% general partner of CLP and is also the 0.001% general partner of both Celtics Basketball Holdings and Celtics Basketball. BCLP, through its subsidiaries, holds investment assets and holds a minority interest in the assets and operations of the Boston Celtics. BCLP's most significant operating asset is its indirect investment in Celtics Basketball, which owns and operates the Boston Celtics. The Boston Celtics derive their revenues principally from the sale of tickets to home games, the licensing of television, cable network and radio rights, and promotional and novelty revenues. Ordinarily, the Boston Celtics play an equal number of home games and away games during the 82-game NBA regular season. In addition, the Boston Celtics ordinarily play eight exhibition games prior to the commencement of the regular season. Under the NBA Constitution and By-laws, the Boston Celtics receive all revenues from the sale of tickets to regular season home games (subject to the NBA gate assessment of 6%) and no revenue from the sale of tickets to regular season away games. Generally, the Boston Celtics retain all revenues from the sale of tickets to home exhibition games played in Boston as well as certain ticket revenues from home exhibition games played outside of Boston. Under certain circumstances, the Boston Celtics pay appearance fees to the visiting team for exhibition games, and likewise the team may receive appearance fees for exhibition games played elsewhere. The Boston Celtics and the NBA license the television and radio broadcast rights to Boston Celtics basketball games. The NBA, as agent for its members, licenses the national and international broadcast of the games under agreements with NBC Sports, a division of the National Broadcasting Company, and Turner Network Television, Inc., an affiliate of Turner Broadcasting. Each of the NBA member teams share equally in these license fees. In addition, the Boston Celtics license the right to air all Boston Celtics home and away games to Sportschannel New England Limited Partnership (doing business as Fox Sports Net New England) (the SNE agreement). The Boston Celtics license the rights to broadcast all games on radio under an agreement with American Radio Systems, Inc., licensee of Radio Station WEEI - 850AM (the ARS agreement). The NBC and TNT agreements extend through the 2001-02 season. The SNE agreement extends through the 2002-03 season, with a right to an additional extension by Sportschannel New England Limited Partnership through the 2005-06 season. The ARS agreement extends through the 2000-01 season. Generally, these agreements provide for the broadcast of a specified number of games (exhibition, regular season and playoff games) at specified rights fees per game, which in some cases increase over the term of the contract and in some cases provide for revenue sharing. The national agreements provide that the licensee identify the games which it wishes to broadcast and the local rights agreements provide for the preemption of games broadcast under the national license agreements. Other sources of revenues for the basketball operations include promotional and novelty revenues, including royalties from NBA Properties, Inc. (NBA Properties). NBA Properties is a corporation organized in 1967 to which each NBA member has assigned the exclusive rights to the merchandising of its team name, insignia and other similar properties to the extent such rights were not previously assigned to others prior to the formation of NBA Properties. NBA Properties pays royalties to each NBA team in consideration of the receipt of such rights. This assignment is subject to the right of each team, including the Boston Celtics, to use its insignia and symbols in connection with the promotion of the team in its home territory and retail sales in its home arena. NBA Properties licenses other companies to manufacture and sell official NBA items such as sneakers, basketballs, warm-up jackets and sweatshirts, as well as certain non-sports items.


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  • Collectibles
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