The NBA likewise fosters a team’s ability to sell shares to the public. Thus,
MLB, the NHL, and the NBA provide sports team owners the opportunity
to go public, but impose restrictions that ensure that a one-man decision
remains without public shareholder interference.
Lastly, the Boston Celtics, like the Panthers, went public in 1986, offering
their fans the opportunity to purchase an interest in the team. Much
like the stock of the other professional teams that have gone public, the
Boston Celtics’ stock came with few privileges. Notably, however, the
Boston Celtics were one of the few teams who actually paid dividends to
their shareholders. Like the Florida Panthers and the Cleveland Indians,
the Boston Celtics provided their investors access to the secondary market.
Like the others, in 2002, the Boston Celtics was sold to private investors.
As of now, with the exception of the Green Bay Packers, who are
not considered to be a true sports team corporation, no professional sports
team in the United States currently sells shares of stock to the public.