The Celtics sale tells you a lot about where sports ownership is heading.
A private equity firm financed the deal.
And they negotiated preferred shares, meaning the PE firm gets paid back before other owners, and changes the power of who runs the team.
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BREAKING: Connecticut’s Dan Hurley has turned down the Los Angeles Lakers’ six-year, $70 million offer and will return to chase a third straight national title, sources tell ESPN. LA would’ve made him one of NBA’s six highest paid coaches.