PawSox purchased by group of New England business leaders

February 23, 2015 1:11 pm

By News Staff

A new group of New England business leaders and Fenway Sports Management has announced that it has purchased the Pawtucket Red Sox from the long-time owners, Madeleine Mondor, Michael Tamburro, and Ludwig Schwechheimer.

The primary owners of the ten-member group are listed as Larry Lucchino, who will serve as Chairman, and James J. Skeffington, who will be President.

“The Boston Red Sox have enjoyed a productive relationship with the Pawtucket Red Sox for more than four decades,” said Lucchino. “The franchise has played key roles in the Red Sox’ historic success, both as a player development affiliate and as a Rhode Island home for affordable family entertainment. We seek to enhance those roles, and to honor the substantial contributions that Ben Mondor and his loyal team have made to this community for generations.”

Lucchino will continue to be the President/CEO of the Red Sox.

“We are very excited about our purchase of the Pawtucket Red Sox and the opportunity to partner with the Boston Red Sox to provide first class baseball and family entertainment to our loyal fan base in New England,” said Skeffington, who will oversee the operation on a daily basis.

“The Pawtucket Red Sox are universally respected as one of the best franchises in professional baseball. The new ownership group is committed to carrying on the tradition set by the Mondor family of providing affordable, wholesome, family-friendly entertainment to fans of all ages,” Skeffington said.

The 10-member ownership group includes New England business and community leaders with backgrounds in commerce, finance, law, philanthropy, and sports management:

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 Triple-A International League, The National Association of Minor League Baseball and Major League Baseball have all approved of the new owners’ application for purchasing the team.

Providence Mayor Elorza released a statement on the purchase and potential move, “Maintaining local ownership of the Red Sox’ AAA affiliate is important for Rhode Island, and I commend and congratulate the new owners on their efforts to keep the team in our state. The prospect of moving the team to Providence represents a significant and exciting development opportunity for our capital city. I look forward to working with the new ownership team and all stakeholders to explore this possibility.”

Governor Gina Raimondo also released a statement emphasizing the importance and keeping the PawSox local, “The PawSox are an institution in Rhode Island, and my main goal is keeping them in the state. I look forward to discussions with the new owners about the details of their proposals. We need a plan that makes sense for the people of Rhode Island.”