SoxProspects News

February 23, 2015 at 1:55 PM

PawSox sold to group including Lucchino; reports say move to Providence likely


A group of New England business leaders, including Boston Red Sox President/CEO Larry Lucchino today announced its purchase of the Pawtucket Red Sox. The team had previously been owned by Madeleine Mondor, Michael Tamburro, and Ludwig Schwechheimer. Mondor is the widow of Ben Mondor, who purchased the Pawsox in 1977 and owned them until his death in 2010. 

In conjunction with the sale becoming official, there have been a series of reports that the team will be leaving the city of Pawtucket. City of Pawtucket Mayor Don Grebien told Rhode Island news station WPRO that he had been briefed by the new ownership group, that the new group is looking into a "destination" stadium, although he did later say the group told him it would "at least listen" if the city presented a proposal. A source told Alex Speier of The Boston Globe that the plan is to move the team to Providence.

The Red Sox have had an affiliate in Pawtucket since 1970. The team has played in McCoy Stadium for that entire duration. 

The daily operations staff for the PawSox will be unchanged. Tamburro will continue to serve as CEO, while Schwechheimer continues his role as Vice President and General Manager. Matthew White will serve as Chief Operating Officer and Chief Financial Advisor.

The 10 parties who comprise the new Pawtucket ownership group have strong ties to the New England business community:
Larry Lucchino – President/CEO, Boston Red Sox 
James J. Skeffington – Partner, Locke Lord Edwards LLP 
Bernard Cammarata – Chairman of the Board, TJX Companies, Inc. 
William P. Egan – Founder and General Partner, Alta Communications and Marion Equity Partners
Fenway Sports Management – A sister company of the Boston Red Sox and a wholly-owned subsidiary of Fenway Sports Group (FSG) 
Habib Y. Gorgi – Managing Director, Nautic Partners LLC 
J. Terrence Murray – Former Chairman, President and CEO, Fleet National Bank 
Arthur E. Nicholas – Partner, Boston Red Sox 
Frank M. Resnek – Partner, Boston Red Sox 
Thomas M. Ryan – Former Chairman, President and CEO, CVS Caremark

The sale was approved by Major League Baseball, the International League, and the National Association of Minor League Baseball.

 
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