FORBES VALUATION SHOWS: Grousbeck purchase a labor of love rather than profit, as Jacobs controls the Fleet Center, and with it, the Benjamins.
The skinnyThe Boston Celtics' new owners, led by Wyc Grousbeck, paid a record $360 million for the franchise at the end of 2002, taking on $180 million of debt in the process. To justify what he paid for the team and fund a beefed up marketing program, Grousbeck has pushed up the price of 90% of the team's club seats an average of 55%, to $140. But given that Jeremy Jacobs, owner of the Boston Bruins, controls the FleetCenter, Grousbeck's upside is limited.

1-Yr Value Chg. *1
15%
Ann. Value Chg.*2
NA
Debt/Value*3
54%
Revenue
$104 mil
Operating Income*4
$25.4 mil
Player Expenses*5
$54 mil
Gate Receipts*6
$39 mil

Revenues and operating income are for 2003-04 season.
1Value of team based on current arena deal (unless new arena is pending) without deduction for debt (other than arena debt).
2Current team value compared with latest transaction price.
3Includes arena debt.
4Earnings before interest, taxes, depreciation and amortization.
5Includes benefits and bonuses.
6Includes club seats.
7Compares the number of wins per player payroll relative to the rest of the NBA. Postseason wins count twice as much as regular season wins. A score of 120 means that the team achieved 20% more victories per dollar of payroll compared with the league average.
NA: Not applicable.
Boston Celtics
Wycliffe Grousbeck http://www.bostonceltics.com
Team Value1 $ 334 mil (#9)
The Boston Celtics are owned by Wycliffe Grousbeck,who bought them in 2002 for $360 mil.
Player-costs-to-win ratio *7 84
2003 Coach Jim O'Brien