PawSox sale announced - The CW Providence - WLWC

PawSox sale announced

A new ownership group of New England business leaders and Fenway Sports Management today announced it has purchased the Pawtucket Red Sox from the Triple-­-A franchise's longtime owners: Madeleine Mondor, widow of the late Ben Mondor; Michael Tamburro; and Ludwig Schwechheimer.

The 10-­-member ownership group described below is led by principal owners Larry Lucchino, who will serve as Chairman, and James J. Skeffington, who will be President.

Click here for Providence Mayor Elorza's statement on possible relocation to Providence.

The daily operations of the ball club will continue to be managed by Mr. Tamburro, who will serve as Chief Executive Officer; Mr. Schwechheimer, who will serve as Vice President and General Manager; and Matthew White, who will serve as Chief Operating Officer and Chief Financial Officer. All current members of the staff will remain with the ball club.

"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 in his role as President/CEO of the Red Sox, with whom he begins his 14th season. He, as well as officials of the Red Sox and Fenway Sports Management, will be available to the PawSox to offer guidance, experience, and resources.

"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.

"We want to express our deep gratitude to Ben and Madeleine for their unwavering devotion to the fans and their lasting commitment to the community," Skeffington added. "We will strive to live up to the Mondors' legacy and to take this franchise to the next level both for Rhode Island and the Red Sox."

Led by Mr. Lucchino and Mr. Skeffington, the 10-­-member ownership group includes New England business and community leaders with backgrounds in commerce, finance, law, philanthropy, and sports management. The members of the ownership group are as follows:

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 the new owners' application to purchase the Pawtucket Red Sox franchise.

(release from the Pawtucket Red Sox/ Minor League Baseball)


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