Telecommunications exec buys share of Celtics

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BOSTON (AP) -- The Boston Celtics have a new member of the ownership group.

Telecommunications entrepreneur Rob Hale has purchased an undisclosed share of the team, the Celtics announced on Friday.

Hale is a resident of Hingham, Mass., and the president of Granite Communications, which is based in nearby Quincy.

Granite Communications serves 86 of the Fortune 100 companies, and it has revenues of more than $650 million. Hale also owns FoxRock Properties, a Boston-based commercial real estate firm with over 1 million square feet of space.

A group led by venture capitalists Wyc Grousbeck and Steve Pagliuca purchased the team in 2002 for $360 million -- then a record for an NBA franchise. A recent report in Forbes magazine put the value of the franchise at $482 million.