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, and Jim Katcavage.
[3] TNC's control of the Seals ended after one season after they missed a payment to van Gerbig and fell into default.
[4] TNC and its president Woody Erdman attempted to use profits from the Celtics to cover the losses from the company's bad investments.