EXHIBIT 99.2

                     BOSTON CELTICS LIMITED PARTNERSHIP
               ANNOUNCES ESTIMATE OF POTENTIAL CASH PAYMENT TO
                   UNITHOLDERS FOLLOWING SALE TRANSACTION

BOSTON, Massachusetts - (BUSINESS WIRE) - October 7, 2002 - Boston Celtics
Limited Partnership (NYSE, BOS) today released a preliminary estimate of
the cash benefit that would be paid to holders of limited partnership units
of Boston Celtics Limited Partnership ("BCLP") following consummation of
the previously announced agreement between Celtics Basketball L.P. (BCLP's
48.3% owned, indirect subsidiary) and Lake Carnegie, LLC, providing for the
sale of the Boston Celtics basketball team.

      Under the terms of the agreement, Lake Carnegie will pay to Celtics
Basketball L.P. an aggregate amount of $360 million in cash consideration
for team assets (of which $50 million will be used to pay outstanding bank
borrowings of Celtics Basketball L.P.) and will assume all operating
liabilities relating to the team.  A 48.3% portion of the net proceeds of
the transaction will be distributed to a subsidiary of BCLP.  From this
amount, taxes (including federal and state income taxes) and other expenses
and liabilities will be paid, and provision will be made for outstanding
subordinated debentures, and for claims and contingent liabilities.

      As a result of its continuing analysis, and based upon available
information and assumptions regarding taxes, liabilities, claims and
expenses, BCLP currently estimates that the anticipated cash payment to
unitholders relating to the sale of Boston Celtics team assets, net of
provision for taxes, debentures, other liabilities and contingencies, is
expected to range from $25.00 to $35.00 per unit, and is expected to
represent substantially all of the net assets of BCLP at the time of the
payment.  Such cash payment will be made to unitholders on a pro rata basis
based on the number of units held.  No control premium will be paid to any
Gaston entity or individual or to any other holder of BCLP units.  Actual
claims, liabilities and expenses may exceed current estimates and may
reduce the amount of proceeds available for unitholders.  Additionally,
BCLP may establish a reserve to satisfy contingent liabilities and ongoing
costs and expenses.

      The timing of any cash payment to BCLP unit holders has not yet been
determined and will be contingent upon the consummation of the transaction
with Lake Carnegie, LLC.  The transaction continues to be subject to
National Basketball Association approval and customary closing conditions.

      Shareholders and investors are advised that statements contained in
this press release that are not historical facts are forward looking
statements as that term is defined in the Private Securities Litigation
Reform Act of 1995.  This includes the estimated amount of any projected
cash benefit for unitholders following consummation of the sale of the
Boston Celtics basketball team.  These forward-looking statements are based
largely on expectations and assumptions, and are subject to a number of
risks and uncertainties.  Specifically, closing of the transaction will
remain contingent upon the satisfaction of a number of conditions to
closing, including approval of the National Basketball Association.  In the
event that the transaction closes, there are a number of factors which
could cause actual results to differ materially from these forward-looking
statements, including the timing of the closing of the sale of the team,
and claims, liabilities or expenses that exceed current estimates or that
are unanticipated.  BCLP disclaims any obligation to update such factors or
to publicly announce the results of any revisions to any of the forward-
looking statements included herein to reflect future events or
developments.