Pagliuca was one of four finalists in the bidding process, but his bid was not selected. His statement reads as follows: “Since the Grousbeck family announced it would sell the Boston Celtics almost nine months ago,” Pagliuca wrote. “I have worked tirelessly to put together a strong bid centered around the great majority of existing owners of the team who understand and appreciate what it means to be a steward of the Boston Celtics, a team steeped in championship tradition.” “Additionally, I recruited new partners with deep resources and expertise in technology and international markets to maximize the Celtics’ successes to ensure we can always compete for championships, luxury taxes be damned.” “We made a fully guaranteed and financed offer at a record price, befitting the best sports fans int he world and with all the capital coming from individuals who ae committed to winning on and off the court. We had no debt or private equity money that would potentially hamstring our ability to compete in the future. We have felt it was the best offer for the Celtics. It is a bid of true fans, deeply connected to Boston’s community, and we’ve been saddened to find out we have not been selected in the process.”