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Red Auerbach Net Worth - The Legacy Of A Basketball Legend

Arnold "Red" Auerbach, a legendary basketball coach, is known for his unparalleled success in leading the Boston Celtics to nine NBA championships. However, apart from his accomplishments on the court, many are curious about Red Auerbach net worth. In this article, we will delve into Auerbach's career and examine his fortune.

James K.
Apr 06, 2023158 Shares2111 Views
Arnold "Red" Auerbach, a legendary basketball coach, is known for his unparalleled success in leading the Boston Celtics to nine NBA championships. However, apart from his accomplishments on the court, many are curious about Red Auerbach net worth. In this article, we will delve into Auerbach's career and examine his fortune.

Quick Facts About Red Auerbach

NameRed Auerbach
BirthdaySeptember 20, 1917
ProfessionBaskteball coach
Net worth$5 million

Early Life Of Red Auerbach

Basketballography: Red Auerbach

Arnold "Red" Auerbach was born on September 20, 1917, in Brooklyn, New York. He was the youngest of four children of Jewish immigrant parents, Marie and Hyman Auerbach. Red grew up in a neighborhood filled with immigrants from Eastern Europe, where he learned to play basketball on the streets.
As a teenager, Auerbach attended Eastern District High School in Brooklyn, where he played basketball and developed his skills. He went on to attend George Washington University in Washington, D.C., where he continued to play basketball and became the team captain in his senior year.
After graduating from college, Auerbach was drafted into the U.S. Navy during World War II. He served as a gunnery officer on the USS Montpelier and was involved in several naval battles in the Pacific.
Following his service in the Navy, Auerbach started his coaching career in the Basketball Association of America (BAA), which later merged with the National Basketball League (NBL) to become the NBA. He coached the Washington Capitols for two seasons before being hired by the Boston Celtics in 1950.

Auerbach's Time With The Celtics

Red Auerbach’s All-Time NBA Team ☘️

Arnold "Red" Auerbach's time with the Boston Celtics is the most iconic period of his career. He joined the Celtics in 1950 as a head coach, and he quickly set about transforming the struggling team into a championship contender.
Auerbach was known for his innovative coaching strategies, including his use of a fast-break offense, full-court press defense, and the concept of a "sixth man" off the bench. He was also known for his fiery personality, and he was never afraid to challenge his players to push themselves to their limits.
Under Auerbach's leadership, the Celtics won their first NBA championship in 1957, and they went on to win a total of nine championships in the next ten years. The team was anchored by legendary players such as Bill Russell, Bob Cousy, and John Havlicek, and Auerbach was widely credited with helping them achieve their full potential.
After retiring as a coach in 1966, Auerbach continued to work with the Celtics as an executive. He helped build the team into one of the most successful franchises in NBA history, and he played a key role in the development of the modern game of basketball.
Auerbach's contributions to the Celtics and the NBA as a whole were recognized with numerous honors and awards. He was inducted into the Basketball Hall of Fame in 1969, and he was named one of the NBA's 10 greatest coachesof all time in 1996. His legacy as a basketball innovator and a champion of teamwork and dedication continues to inspire players and coaches today.

Business Ventures Of Red Auerbach

Arnold "Red" Auerbach was not only a successful basketball coach and executive, but he also ventured into various business endeavors throughout his life. Here are some of Red Auerbach's business ventures:
  • Red Auerbach & Associates- After his coaching career, Auerbach started a consulting firm called Red Auerbach & Associates. The firm provided advice and assistance to businesses in the areas of marketing, public relations, and management.
  • Sports Memorabilia - Auerbach was a pioneer in the sports memorabilia industry, founding his own company, Red Auerbach Enterprises, in the 1970s. The company specialized in selling autographed sports memorabilia, including basketballs and jerseys.
  • Broadcasting- Auerbach was a popular sports commentator for many years, working as an analyst for CBS and NBC. He also co-hosted a radio show called "Red Auerbach's Sports Huddle" for many years.
  • Restaurant- Auerbach was also a co-owner of a popular Boston restaurant called the Bull & Finch Pub, which was the inspiration for the bar in the TV show "Cheers."
  • Cigar Business- Auerbach was a lifelong cigar aficionado and started his own line of cigars, the Red Auerbach Signature Series, in the early 1990s. The cigars were made in the Dominican Republic and were known for their high quality and unique flavor.

Red Auerbach Net Worth

Arnold "Red" Auerbach was a successful basketball coach and executive who had a significant impact on the sport of basketball. It is estimated that he accumulated a $5 million fortune during his career.
Auerbach's time as a coach and executive with the Boston Celtics spanned several decades, during which he helped lead the team to numerous championships and established the franchise as one of the most successful in NBA history.
As an executive, he played a key role in the development of the modern game of basketball and helped shape the sport into what it is today.
In addition to his success in basketball, Auerbach was also involved in several business ventures outside of the sport. He was the founder of the Arnold Auerbach Corporation, which was involved in a range of business interests, including real estate and the stock market.
Despite his financial success, Auerbach was known for his frugal and humble lifestyle. He was often seen wearing the same threadbare coat and driving an old car, and he once famously turned down a raise from the Celtics because he felt he was already being paid enough.

Real Estate Properties Of Red Auerbach

One of Auerbach's most notable real estate investments was a condominium in Delray Beach, Florida. He purchased the property in the 1980s and spent many winters there with his wife, Dorothy.
The condominium was located in the Delray Beach Club, a gated community that offered a range of amenities, including a golf course, tennis courts, and a private beach.
In addition to his Florida condominium, Auerbach also owned several properties in the Boston area. He and his wife lived in a modest home in the Washington Square neighborhood of Brookline, Massachusetts, for many years. The couple also owned a vacation home in Cape Cod, which they frequently visited during the summer months.

Philanthropic Efforts Of Red Auerbach

Red Auerbach wearing a black suit while smoking cigar
Red Auerbach wearing a black suit while smoking cigar
Arnold "Red" Auerbach was known for his philanthropic efforts throughout his life. He believed in giving back to the community and supporting causes that were important to him.
One of Auerbach's most notable philanthropic endeavors was his work with the Arnold Auerbach Foundation. The foundation was established in 1980 and was dedicated to supporting educational, health, and human service programs in the Boston area.
Auerbach was actively involved in the foundation's work, and he personally donated a significant amount of money to support its activities.
In addition to his work with the Arnold Auerbach Foundation, Auerbach was also a strong supporter of the Joslin Diabetes Center in Boston. He was a member of the center's board of trustees for many years, and he donated a substantial amount of money to support diabetes research and treatment.
Auerbach was also known for his support of the Boston Celtics Shamrock Foundation, which was established to support children in need in the Boston area. He was a regular participant in the foundation's fundraising activities and donated his time and money to support its programs.

Red Auerbach's Legacy

Arnold "Red" Auerbach passed away on October 28, 2006, at the age of 89. He left behind a legacy as one of the greatest coaches and basketball minds in the history of the sport.
Auerbach's contributions to the game of basketball are still felt today. The fast break, the sixth man, and other innovations he introduced to the game are now staples of modern basketball.
Auerbach's impact on the Boston Celtics is also still evident. The team's logo - a leprechaun with a cigar - was inspired by Auerbach, who was known for smoking cigars on the sidelines during games. Here are some ways that Auerbach's legacy lives on:
  • Championship Records -Auerbach's record of nine NBA championships as a coach remains one of the greatest accomplishments in the history of the league. His success as an executive and his innovative coaching strategies helped establish the Boston Celtics as one of the most successful franchises in NBA history.
  • Civil Rights -Auerbach was a pioneer in the area of civil rights, signing the league's first black player in 1950 and later becoming one of the first NBA coaches to field a starting lineup with five black players. His commitment to racial equality and his advocacy for diversity and inclusion continue to inspire others to fight for social justice.
  • Coaching Legacy -Auerbach's coaching style and strategies influenced generations of coaches, and his commitment to teamwork, unselfish play, and high standards of excellence remain guiding principles for many coaches today.

Interesting Facts About Red Auerbach

  • Auerbach was born on September 20, 1917, in Brooklyn, New York. His parents were Jewish immigrants from Russia.
  • Auerbach played college basketball at George Washington University and was later inducted into the school's Hall of Fame.
  • Auerbach began his coaching career in the NBA in 1946 with the Washington Capitols. He went on to coach the Boston Celtics for 16 seasons, winning nine championships.
  • Auerbach was also a successful executive with the Celtics, serving as the team's general manager for many years. He played a key role in building the Celtics dynasty and establishing the team as one of the most successful franchises in NBA history.
  • Auerbach was known for his innovative coaching techniques, including the use of a fast-paced, up-tempo offense that was ahead of its time.
  • Auerbach was also a pioneer in the area of player personnel, using advanced scouting techniques and analytics to identify and recruit top talent for the Celtics.
  • Auerbach was a staunch advocate for civil rights and was one of the first NBA coaches to integrate his team, signing the league's first black player, Chuck Cooper, in 1950.
  • Auerbach was also known for his colorful personality and his love of cigars. He was often seen smoking a cigar on the sidelines during games.
  • Auerbach was inducted into the Basketball Hall of Fame in 1969, and he received numerous other honors and awards throughout his career.
  • Auerbach passed away on October 28, 2006, at the age of 89. He is remembered as one of the greatest coaches and executives in the history of basketball and as a true pioneer and innovator in the sport.

People Also Ask

How Many Championships Did Red Auerbach Win?

Red Auerbach won a total of nine NBA championships with the Boston Celtics.

What Did Red Auerbach Do For Basketball?

Red Auerbach was a basketball coach and executive who introduced several innovations to the game, including the fast break and the concept of a "sixth man."

Who Did Red Auerbach Coach?

Red Auerbach is best known for coaching the Boston Celtics from 1950 to 1966, leading the team to nine NBA championships.

How Did Red Auerbach Die?

Red Auerbach passed away on October 28, 2006, at the age of 89 due to a heart attack.

Conclusion

Arnold Red Auerbach net worth was estimated to be around $5 million at the time of his death in 2006. His success as a coach and executive with the Boston Celtics, as well as his ownership stake in the team, contributed to his fortune.
While Auerbach's financial success was modest compared to today's coaches, his legacy as one of the greatest coaches and basketball minds in history will continue to inspire and influence the game for many years to come.
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