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Creative accounting?
Celtics partnership reports loss
Associated Press
as of 9/21/01 19:10EST
BOSTON -- The Boston Celtics Limited Partnership reported more than $4
million in losses Friday for the fiscal year ending June 30.The partnership,
which indirectly owns 48.3 percent of the NBA franchise, said it lost $4.1
million, or $1.27 per unit, compared to a loss of $3.3 million, or $1.23 per
unit, in the previous year.Chief executive officer Richard Pond attributed
the losses to $2.3 million in one-time costs, including the restructuring of
club ownership and a state sales tax payment from the sale of WFXT-TV.Celtics
shares closed trading Friday at $9.40 per share.