Trans-National Communications, Inc. was a New York City

New York City

New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...

 based Holding company

Holding company

A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself; rather, its purpose is to own shares of other companies. Holding companies allow the reduction of risk for the owners and can allow...

 that owned the Boston Celtics

Boston Celtics

The Boston Celtics are a National Basketball Association team based in Boston, Massachusetts. They play in the Atlantic Division of the Eastern Conference. Founded in 1946, the team is currently owned by Boston Basketball Partners LLC. The Celtics play their home games at the TD Garden, which...

 of the National Basketball Association

National Basketball Association

The National Basketball Association is the pre-eminent men's professional basketball league in North America. It consists of thirty franchised member clubs, of which twenty-nine are located in the United States and one in Canada...

 and the Oakland Seals of the National Hockey League

National Hockey League

The National Hockey League is an unincorporated not-for-profit association which operates a major professional ice hockey league of 30 franchised member clubs, of which 7 are currently located in Canada and 23 in the United States...

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Trans-National Communications was founded in 1968 by Ellis E. "Woody" Erdman

Woody Erdman

Ellis E. "Woody" Erdman was an American sportscaster, television producer, and businessman who served as chairman of Trans-National Communications, International Trade & Commerce Corporation and Boston Celtics.Ellis Erdman was a combat veteran of World War II, having served with the US Army...

, a radio station owner, and William Creasy, a television producer for CBS Sports

CBS Sports

CBS Sports is a division of CBS Broadcasting which airs sporting events on the American television network. Its headquarters are in the CBS Building on West 52nd Street in midtown Manhattan, New York City, with programs produced out of Studio 43 at the CBS Broadcast Center on West 57th Street.CBS...

. 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

Pat Summerall

George Allen "Pat" Summerall is a former American football player and television sportscaster, having worked at CBS, Fox, and ESPN.Summerall is best known for his work with John Madden on NFL telecasts for CBS and Fox.-High school:...

, Whitey Ford

Whitey Ford

Edward Charles "Whitey" Ford is a former Major League Baseball pitcher who spent his entire 18-year career with the New York Yankees. He was voted into the Baseball Hall of Fame in 1974.-Early life and career:...

, and Dick Lynch

Dick Lynch

Richard Dennis "Dick" Lynch 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 in interceptions...

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Trans-National Communications holdings included the radio broadcast rights to the New York Jets

New York Jets

The New York Jets are a professional football team headquartered in Florham Park, New Jersey, representing the New York metropolitan area. The team is a member of the Eastern Division of the American Football Conference in the National Football League...

 and the New York Giants

New York Giants

The New York Giants are a professional American football team based in East Rutherford, New Jersey, representing the New York City metropolitan area. The Giants are currently members of the Eastern Division of the National Football Conference in the National Football League...

, the Bank of Philadelphia

Philadelphia (village), New York

Philadelphia is a village in Jefferson County, New York, United States. The population was 1,519 at the 2000 census.The Village of Philadelphia is in the Town of Philadelphia and is northeast of Watertown...

, film companies, and farms.

On March 2, 1969, Trans-National Communications purchased the Oakland Seals from Barry Van Gerbig

Barry Van Gerbig

Barend "Barry" van Gerbig is an US millionaire socialite best known as the owner of the National Hockey League's California Seals.-Early life:...

 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. Control of the team reverted back to Investors Funding Corporation in 1971 after TNC fell into financial default.

In 1972, Trans-National Communications filed for Chapter 11 bankruptcy

Chapter 11, Title 11, United States Code

Chapter 11 is a chapter of the United States Bankruptcy Code, which permits reorganization under the bankruptcy laws of the United States. Chapter 11 bankruptcy is available to every business, whether organized as a corporation or sole proprietorship, and to individuals, although it is most...

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