What happened: On Dec. 3, 1986, Boston's owners sold a 40% stake through an IPO of 2.6 million shares. Roughly 95,000 investors bought units, which traded under the symbol BOS until the franchise's 2002 sale began its return to private ownership.
Why it matters: The structure gave fans direct equity while allowing the ownership group to recover more than its reported $15 million purchase price. Printing and mailing investor distributions cost roughly $1 million a year.
By the numbers: The IPO generated about $48 million in cash and valued the club near $120 million after its first trading day—eight times its reported 1983 purchase price. Dividing 2.6 million shares among roughly 95,000 investors yields an average holding of about 27 shares.
What to watch: Full control under Boston's latest ownership sale is due to transfer to Bill Chisholm's group by 2028. The approved structure could put the final valuation at $7.3 billion.