103:
On August 13, 1969, Trans-National
Communications purchased the Boston Celtics for a record $ 6 million. TNC and its president Woody Erdman attempted to use profits from the Celtics to cover the losses from the company's bad investments. As a result, the team struggled to pay its bills. Some
108:
had to pay some bills out of his own pocket. Auerbach described Erdman as "the absolute worst" owner he had ever worked for. Control of the team reverted to
Investors Funding Corporation in 1971 after TNC fell into financial default.
330:
320:
325:
345:
335:
315:
58:. Erdman wanted to create an investment group with former professional athletes and use their celebrity power to sell the product. TNC's celebrity investors were
310:
113:
340:
274:
219:
194:
100:
for $ 4.5 million. TNC's control of the Seals ended after one season after they missed a payment to van Gerbig and fell into default.
255:
149:
86:
32:
305:
77:
Trans-National
Communications holdings included over 100 radio stations, the radio broadcast rights to the
40:
51:
251:
245:
145:
169:
139:
104:
businesses refused to take checks from the
Celtics while TNC owned them and General Manager
97:
82:
24:
28:
299:
93:
78:
71:
59:
36:
20:
105:
47:
63:
67:
55:
141:
Shorthanded: The Untold Story of the Seals: Hockey's Most
Colorful Team
269:
267:
92:
331:
Companies that filed for
Chapter 11 bankruptcy in 1972
46:
112:In 1972, Trans-National Communications filed for
8:
250:. Hachette Digital, Inc. pp. 142–143.
133:
131:
129:
321:American companies disestablished in 1972
326:Holding companies disestablished in 1972
244:Red Auerbach and John Feinstein (2004).
163:
161:
125:
346:American companies established in 1968
336:Holding companies of the United States
316:Holding companies established in 1968
7:
17:Trans-National Communications, Inc.
14:
311:Companies based in New York City
275:"Way Is Cleared For Celtic Sale"
195:"Approval of Seals' sale likely"
33:National Basketball Association
341:California Golden Seals owners
220:"Celtics Sold For $ 6-Million"
1:
168:Snell, David (May 23, 1969).
89:, film companies, and farms.
50:, a radio station owner, and
54:, a television producer for
362:
170:"All-Pro Miniconglomerate"
247:Let Me Tell You A Story
138:Brad Kurtzberg (2006).
48:Ellis E. "Woody" Erdman
279:The Spartanburg Herald
41:National Hockey League
306:Boston Celtics owners
114:Chapter 11 bankruptcy
224:St. Petersburg Times
199:The Montreal Gazette
226:. August 13, 1969
353:
290:
289:
287:
286:
271:
262:
261:
241:
235:
234:
232:
231:
216:
210:
209:
207:
206:
191:
185:
184:
182:
180:
165:
156:
155:
135:
98:Barry Van Gerbig
361:
360:
356:
355:
354:
352:
351:
350:
296:
295:
294:
293:
284:
282:
273:
272:
265:
258:
243:
242:
238:
229:
227:
218:
217:
213:
204:
202:
201:. March 4, 1969
193:
192:
188:
178:
176:
167:
166:
159:
152:
144:. AuthorHouse.
137:
136:
127:
122:
83:New York Giants
27:that owned the
25:Holding company
12:
11:
5:
359:
357:
349:
348:
343:
338:
333:
328:
323:
318:
313:
308:
298:
297:
292:
291:
281:. May 19, 1972
263:
256:
236:
211:
186:
157:
150:
124:
123:
121:
118:
85:, the Bank of
52:William Creasy
29:Boston Celtics
13:
10:
9:
6:
4:
3:
2:
358:
347:
344:
342:
339:
337:
334:
332:
329:
327:
324:
322:
319:
317:
314:
312:
309:
307:
304:
303:
301:
280:
276:
270:
268:
264:
259:
257:9780316738231
253:
249:
248:
240:
237:
225:
221:
215:
212:
200:
196:
190:
187:
175:
171:
164:
162:
158:
153:
151:9781425910280
147:
143:
142:
134:
132:
130:
126:
119:
117:
115:
110:
107:
101:
99:
95:
94:Oakland Seals
90:
88:
84:
80:
79:New York Jets
75:
73:
72:Jim Katcavage
69:
65:
61:
60:Pat Summerall
57:
53:
49:
44:
42:
38:
37:Oakland Seals
34:
30:
26:
22:
21:New York City
18:
283:. Retrieved
278:
246:
239:
228:. Retrieved
223:
214:
203:. Retrieved
198:
189:
177:. Retrieved
173:
140:
111:
106:Red Auerbach
102:
91:
87:Philadelphia
76:
45:
16:
15:
64:Whitey Ford
300:Categories
285:2010-08-05
230:2010-08-05
205:2010-08-05
179:5 February
120:References
68:Dick Lynch
56:CBS Sports
81:and the
35:and the
39:of the
31:of the
254:
148:
70:, and
23:based
19:was a
96:from
252:ISBN
181:2012
174:Life
146:ISBN
302::
277:.
266:^
222:.
197:.
172:.
160:^
128:^
116:.
74:.
66:,
62:,
43:.
288:.
260:.
233:.
208:.
183:.
154:.
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.