Wycliffe Groesbeck | Owner Boston Celtics

Wycliffe Groesbeck | Owner Boston Celtics

Wycliffe Groesbeck | Owner Boston Celtics
You may have never heard of Wycliffe "Wyc" Grousbeck, but he is the part owner and CEO of the Boston Celtics, one of the NBA's most valuable teams, worth about $500 million. Wyc grew up in New England and went to the best schools getting his bachelors degree at Princeton University (where he was on the school's undefeated rowing team), a law degree from the University of Michigan and an MBA from Stanford's School of Business. He was a partner for seven years at a venture capital firm and bought the Celtics along with his father, H. Irving Grousbeck, and his friend Stephen Pagliuca in 2002 for $360 million. Wyc's father is a professor at Stanford Business School and was a visiting lecturer at Harvard Business School in the 1980s who specializes in entrepreneurship topics and issues. Grousbeck Sr. also co-founded Continental Cablevision. Stephen Pagliuca is a private money investor and managing partner of Bain Capital. He was one of four Democratic candidates to fill Ted Kennedy's vacant U.S. Senate seat in 2009, but finished last.

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Although the Celtics were the dominant NBA team from the 1950s into the 80s with 16 NBA championships, they had not won an NBA title since 1986 and the team was nothing special when Wyc's group bought the team in 2002. And then things got worse. They lost their star player Paul Pierce to a foot injury at the beginning of the 2006 - 2007 season and had only two wins in their next 24 games. They finished the year with a 24 - 58 record landing at the bottom of the NBA standings.

Their luck quickly changed when the Celtics obtained both Kevin Garnett and Ray Allen for the 2007 - 2008 season. They started the new season with a bang winning their first eight games, finished the year with a 66-16 record and won the NBA Championship after a gap of 22 years. It was their 17th NBA title.

Wyc and his wife Corinne live in a traditional New England-style mansion in Weston, Massachusetts with their two children, Kelsey and Campbell. They were living in California but moved to Boston for medical care of their son Campbell who was born blind with Leber congenital amaurosis, a rare inherited eye disease.

Source: virtualglobetrotting.com