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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
__________
SCHEDULE 13D
Under the Securities Exchange Act of 1934
BOSTON CELTICS LIMITED PARTNERSHIP
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(Name of Issuer)
Limited Partnership Units
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(Title of Class of Securities)
100577105
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(CUSIP number)
Paul E. Gaston
33 East 63rd Street
New York, NY 10021
(212) 644-3800
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(Name, address and telephone number of person
authorized to receive notices and communications)
March 8, 1999
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(Date of event which requires filing of this statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].
Note. Six copies of this statement, including all exhibits, should be
filed with the Commission. See Rule 13d-1(a) for other parties to whom copies
are to be sent.
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
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CUSIP No. 100577105 13D Page 2 of 7 Pages
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1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
CASTLE CREEK PARTNERS, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(D) OR 2(E) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
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NUMBER OF 7 SOLE VOTING POWER
SHARES
551,800
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BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
0
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EACH 9 SOLE DISPOSITIVE POWER
REPORTING
551,800
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PERSON WITH 10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
551,800
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES/*/ [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
20.4%
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14 TYPE OF REPORTING PERSON/*/
PN
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(Page 2 of 7 Pages)
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CUSIP No. 100577105 13D Page 3 of 7 Pages
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1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
CASTLE CREEK PARTNERS GP, INC.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(D) OR 2(E) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
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NUMBER OF 7 SOLE VOTING POWER
SHARES
551,800
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BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
0
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EACH 9 SOLE DISPOSITIVE POWER
REPORTING
551,800
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PERSON WITH 10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
551,800
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES/*/ [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
20.4%
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14 TYPE OF REPORTING PERSON/*/
CO
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(Page 3 of 7 Pages)
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CUSIP No. 100577105 13D Page 4 of 7 Pages
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1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
PAUL E. GASTON
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(D) OR 2(E)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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NUMBER OF 7 SOLE VOTING POWER
SHARES
551,900
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BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
0
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EACH 9 SOLE DISPOSITIVE POWER
REPORTING
551,900
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PERSON WITH 10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
551,900
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES/*/ [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
20.4%
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14 TYPE OF REPORTING PERSON/*/
IN
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(Page 4 of 7 Pages)
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Item 1. Security and Issuer
Schedule 13D relates to limited partnership units (the "Units") of Boston
Celtics Limited Partnership ("BCLP"). BCLP's principal executive office is
located at 151 Merrimac Street, Boston, Massachusetts 02114.
Item 2. Identity and Background
This Schedule 13D is being filed by Castle Creek Partners, L.P. ("Castle
Creek"), Castle Creek Partners GP, Inc. ("Castle Creek GP") and Paul E. Gaston.
Castle Creek is a Delaware limited partnership. Castle Creek's principal
executive offices are located at 151 Merrimac Street, Boston, Massachusetts
02114, and its principal business is investing and seeking opportunities to
invest in operating businesses. Castle Creek's general partner, Castle Creek
GP, controls Castle Creek's day-to-day operations.
Castle Creek GP is a Delaware corporation and is Castle Creek's 1% general
partner. Castle Creek GP's principal executive offices are located at 151
Merrimac Street, Boston, Massachusetts 02114, and its principal business is
controlling Castle Creek's day-to-day operations. Castle Creek GP's directors
and executive officers are Paul E. Gaston (Director, Chief Executive Officer and
President), Don F. Gaston (Director), Paula B. Gaston (Director) and Richard G.
Pond (Executive Vice President, Chief Operating Officer, Treasurer and
Secretary). Castle Creek GP is wholly owned by Celtics, Inc., a Delaware
corporation, which is in turn wholly owned by Walcott Partners, L.P.
("Walcott"), a Delaware limited partnership. Walcott's general partners are
Paul E. Gaston and Draycott, Inc. ("Draycott"), a Delaware corporation. Paul E.
Gaston is Draycott's sole stockholder, officer and director. 96.3% of Castle
Creek's limited partnership interests are held by a limited partnership of which
Walcott owns a majority of the limited partnership interests and Draycott is the
general partner.
The business address of Paul E. Gaston, Don F. Gaston, Paula B. Gaston and
Richard G. Pond is c/o Castle Creek Partners GP, Inc., 151 Merrimac Street,
Boston, Massachusetts 02114. Paul E. Gaston's and Richard G. Pond's present
principal occupations are as officers of BCLP GP, Inc., BCLP's general partner.
Don F. Gaston's and Paula B. Gaston's present principal occupations are as
private investors.
Each of Paul E. Gaston, Don F. Gaston, Paula B. Gaston and Richard G. Pond
is a United States citizen. None of Castle Creek, Castle Creek GP, Paul E.
Gaston, Don F. Gaston, Paula B. Gaston or Richard G. Pond has during the last 5
years (i) been convicted in a criminal proceeding (excluding traffic violations
or similar misdemeanors) or (ii) been a party to a civil proceeding of a
judicial or administrative body of competent jurisdiction and as a result of
such proceeding was or is subject to a judgment, decree or final order enjoining
future violations of, or prohibiting or mandating activities subject to, Federal
or State securities laws or finding any violation with respect to such laws.
Item 3. Source and Amount of Funds or Other Consideration
Castle Creek currently owns 551,800 Units, all of which were purchased with
cash and proceeds from short-term investments. Castle Creek purchased 430,000
of these Units pursuant to a tender offer for up to 430,000 Units at $17.00 per
Unit in cash, which commenced on January 13, 1999 and expired on March 1, 1999.
Details of this tender offer may be found in Castle Creek's Schedule 14D-1 (File
No. 005-54629), which Castle Creek filed with the SEC on January 13, 1999, as
amended.
In addition to Units owned directly by Castle Creek, Paul E. Gaston may be
deemed to beneficially own 100 Units owned directly by Walcott. Don F. Gaston
and Paula B. Gaston directly own 100 Units, and Don F. Gaston may be deemed to
beneficially own 100 Units that are owned directly by Brookwood Investments
Limited Partnership ("Brookwood"), a partnership owned by Don F. Gaston and
Paula B. Gaston and of which Don F. Gaston is the general partner. All of these
Units were acquired in connection with the reorganization of Boston Celtics
Limited Partnership II, which was completed on June 30, 1998.
(Page 5 of 7 Pages)
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Item 4. Purpose of Transaction
The purpose of Castle Creek's acquisition of Units was for Castle Creek to
increase its equity interest in BCLP for investment purposes. The purpose was
not for Castle Creek or Paul E. Gaston to acquire or influence control of BCLP's
business, since BCLP GP, Inc., an affiliate of Castle Creek and Paul E. Gaston,
was already BCLP's general partner. By virtue of ownership of 20.4% of the
outstanding Units, Castle Creek and Paul E. Gaston can prevent certain actions
that, pursuant to BCLP's Agreement of Limited Partnership, require a vote of at
least 80% of the outstanding Units.
Except as set forth above and elsewhere in this Schedule 13D, Castle Creek,
Castle Creek GP and Paul E. Gaston have no present plans or intentions that
relate to or would result in any of the transactions described in clauses (a)
through (j) of Item 4 of Schedule 13D. The intentions of these persons and
entities with respect to BCLP and the Units are subject to change, and each
retains its right to modify its plans with respect to the transactions described
in this Item 4, to acquire or dispose of securities of BCLP and to formulate
plans and proposals that could result in the occurrence of any such events.
Item 5. Interest in Securities of the Issuer
(a) Castle Creek directly and beneficially owns 551,800 Units, which
constituted approximately 20.4% of the Units outstanding as of December 31,
1998. As general partner of Castle Creek, Castle Creek GP may be deemed to
beneficially own all Units owned directly by Castle Creek. Paul E. Gaston may
be deemed to beneficially own 551,900 Units, which constituted approximately
20.4% of the Units outstanding as of December 31, 1998, of which 551,800 are
owned directly by Castle Creek, and 100 are owned directly by Walcott.
Don F. Gaston and Paula B. Gaston directly and beneficially own 100 Units,
which constituted less than 1% of the Units outstanding as of December 31, 1998.
Don F. Gaston may be deemed to beneficially own 100 Units owned directly by
Brookwood.
(b) Each person named in response to paragraph (a) of this Item 5 has sole
power to vote or to direct the vote, and sole power to dispose of or to direct
the disposition of, the number of Units it beneficially owns.
(c) On March 8, 1999, Castle Creek purchased 430,000 Units pursuant to a
tender offer for up to 430,000 Units at $17.00 per Unit in cash, which commenced
on January 13, 1999 and expired on March 1, 1999. Details of this tender offer
may be found in Castle Creek's Schedule 14D-1 (File No. 005-54629), which Castle
Creek filed with the SEC on January 13, 1999, as amended.
(d) Not applicable.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or
Relationships with Respect to Securities of the Issuer
None.
Item 7. Material to be Filed as Exhibits
None.
(Page 6 of 7 Pages)
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: March 18, 1999
CASTLE CREEK PARTNERS, L.P.
By: Castle Creek Partners GP, Inc.
Its: General Partner
/s/ Paul E. Gaston
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By: Paul E. Gaston
Its: President
CASTLE CREEK PARTNERS GP, INC.
/s/ Paul E. Gaston
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By: Paul E. Gaston
Its: President
/s/ Paul E. Gaston
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Paul E. Gaston
(Page 7 of 7 Pages)
