{"id":16529,"date":"2023-10-06T04:53:50","date_gmt":"2023-10-06T04:53:50","guid":{"rendered":"https:\/\/mysourcefunding.com\/leadership\/boston-celtics-wyc-grousbeck-the-leadership-interview\/"},"modified":"2023-10-06T04:53:52","modified_gmt":"2023-10-06T04:53:52","slug":"boston-celtics-wyc-grousbeck-the-leadership-interview","status":"publish","type":"post","link":"https:\/\/mysourcefunding.com\/?p=16529","title":{"rendered":"Boston Celtics\u2019 Wyc Grousbeck: The Leadership Interview"},"content":{"rendered":"
\n

\u201cThis is a very emotional, very people-driven business. If you’re not a fan yourself, you’re going to have a hard time.<\/em>\u201d<\/strong><\/h3>\n

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Growing up in a leafy suburb of Boston, Wyc Grousbeck wanted to play for one of the local sports teams. Instead, he joined a venture capital firm and put together an investment group to buy the Boston Celtics for $360 million in 2002. At the time, Forbes<\/em> valued the franchise to be worth $218 million\u2014making it the 13th most valuable team in the NBA. In its most recent valuation, in October 2022, Forbes<\/em> calculated the value to be $4 billion\u2014now fifth among its NBA peers.<\/p>\n

Grousbeck, 62, sat down with Forbes<\/em> to talk about his leadership philosophy as lead owner of an iconic team and explains recent decisions, from the surprise whirlwind trade for star point guard Jrue Holiday announced earlier this week to the record $303.7 million five-year contract extension for Celtics forward Jaylen Brown.<\/p>\n

It was not an easy start. Although Grousbeck got a substantial investment from his dad Irving, who cofounded Continental Cablevision (later Media One) in 1963, he had to recruit 20 other investors to do the deal. It wasn\u2019t easy but Grousbeck describes his father\u2019s decision to put in less than he could afford as \u201creally prescient of him and very thoughtful.\u201d It forced him to build trust and establish his leadership from the start.<\/p>\n

A Decision of the Heart <\/span><\/h3>\n

\u201cThey took a big leap in believing in me as the day-to-day CEO and controlling decision maker,\u201d he says. \u201cI was 41 years old and I had never really had an employee before except a a fantastic assistant who is still here … but I told my partners, \u2018This is the last Boston team that’s going to sell in our lifetimes and we’re going to have the time of our lives.\u2019\u201d <\/span><\/p>\n

\u201cWe did it, thinking that the return would be in emotional satisfaction and joy and the heartbreak of losing games.\u201d<\/p>\n

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Grousbeck says he was secretly negotiating the trade for Holiday while at dinner with Milwaukee Bucks co-owner Wes Edens\u2014who had just traded him away to the Portland Trail Blazers. [Edens is also a co-investor with Grousbeck in Cincoro Tequila, alongside NBA Hall of Famer Michael Jordan, Los Angeles Lakers owner Jeanie Buss and Emilia Fazzalari\u2014Grousbeck\u2019s wife and CEO of the company.]<\/p>\n

\u201cEdens had already sent Jrue away to Portland three days before so it was out of his hands,\u201d says Grousbeck, adding that the decision to trade away Malcolm Brogdon and Rob Williams in return was not an easy one. \u201cYou don\u2019t get something for nothing … We lost two players in the trade that our fans are going to miss but we gained an All Star.\u201d<\/p>\n

Grousbeck does have regrets, as he explains in the video above, and he talks about the correlation between payroll and achievement. He also has strong views on what it takes to be a successful owner.<\/p>\n

\u201cThis is a very emotional, very people-driven business,\u201d he says. \u201cIf you’re not a fan yourself, you’re going to have a hard time partnering with the players, the fans, the team partners and taking it all the way.\u201d<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u201cThis is a very emotional, very people-driven business. If you’re not a fan yourself, you’re going to have a hard time.\u201d Growing up in a leafy suburb of Boston, Wyc Grousbeck wanted to play for one of the local sports teams. Instead, he joined a venture capital firm and put together an investment group to […]<\/p>\n","protected":false},"author":1,"featured_media":16530,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[76],"tags":[],"class_list":{"0":"post-16529","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-leadership"},"yoast_head":"\nBoston Celtics\u2019 Wyc Grousbeck: The Leadership Interview | Brandiary<\/title>\n<meta name=\"description\" content=\"\u201cThis is a very emotional, very people-driven business. 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