Trans-National Communications, Inc. was a New York City based Holding company that owned the

Boston Celtics The Boston Celtics ( ) are an American professional basketball team based in Boston. The Celtics compete in the National Basketball Association (NBA) as a member of the league's Eastern Conference Atlantic Division. Founded in 1946 as one of t ...

of the National Basketball Association and the Oakland Seals of the National Hockey League. Trans-National Communications was founded in 1968 by Ellis E. "Woody" Erdman, a radio station owner, and William Creasy, a television producer for CBS Sports. 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 Pat Summerall, Whitey Ford,

Dick Lynch Richard Dennis Lynch (April 29, 1936 – September 24, 2008) was an American football defensive back in the National Football League for the Washington Redskins and the New York Giants. He was a one-time Pro Bowler in 1963, when he led the NFL ...

, and

Jim Katcavage James Richard Katcavage (October 28, 1934 – February 22, 1995) was an American football defensive tackle in the National Football League (NFL) who played thirteen seasons for the New York Giants. From 1952 until 1956, Katcavage played c ...

. Trans-National Communications holdings included over 100 radio stations, the radio broadcast rights to the

New York Jets The New York Jets are a professional American football team based in the New York metropolitan area. The Jets compete in the National Football League (NFL) as a member club of the league's American Football Conference (AFC) East division. The J ...

and the

New York Giants The New York Giants are a professional American football team based in the New York metropolitan area. The Giants compete in the National Football League (NFL) as a member club of the league's National Football Conference (NFC) East division. ...

, the Bank of Philadelphia, film companies, and farms. On March 2, 1969, Trans-National Communications purchased the Oakland Seals from

Barry Van Gerbig Barend "Barry" van Gerbig (born 1939) is a US millionaire socialite best known as the owner of the National Hockey League's California Seals. Early life Van Gerbig was born in New York City as the son of attorney Howell van Gerbig and his wife D ...

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. 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 businesses refused to take checks from the Celtics while TNC owned them and General Manager Red Auerbach 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. In 1972, Trans-National Communications filed for

Chapter 11 bankruptcy Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whe ...

References

{{reflist Boston Celtics owners Companies based in New York City Holding companies established in 1968 American companies disestablished in 1972 Holding companies disestablished in 1972 Companies that filed for Chapter 11 bankruptcy in 1972 Holding companies of the United States California Golden Seals owners American companies established in 1968