Diamond Baseball Holdings officially announced Tuesday it would acquire “the majority of the shares of the Worcester Red Sox,” and that the team would remain a Red Sox affiliate.
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Key members of the Worcester Red Sox’ leadership team, including chairman Larry Lucchino, president Charles Steinberg, and general manager Dan Rea, will be retained, the company buying the team said on Tuesday.
Diamond Baseball Holdings officially announced it would acquire “the majority of the shares of the Worcester Red Sox,” and that the team would remain a Red Sox affiliate and continue to play at Polar Park. The Globe
reported last week that a deal to sell the team had been reached.
According to multiple league sources, DBH paid a little more than $70 million for its stake.
“At 78, and after 44 years in baseball, I believe it’s time to have a succession plan, one that assures a commitment to baseball and a commitment to Worcester,” said Lucchino, who has been the principal owner of the franchise since 2015, when it played in Pawtucket, R.I. “There is no organization more committed to Minor League Baseball than Diamond Baseball Holdings.”
Lucchino, Jim Skeffington Jr., and Ralph Crowley, CEO of Polar Beverages, will remain as part of the ownership group, and Crowley will continue to play a role “on behalf of the Crowley family and the ownership group,” Diamond Baseball Holdings said in a release.
“We are thrilled to add the WooSox to the DBH family, our third Red Sox affiliate and a transformational Triple A franchise for both Minor League Baseball and the City of Worcester,” DBH executive chairman Pat Battle and CEO Peter Freund said in a release. “We are beyond excited to partner with Ralph Crowley of Polar Beverages on the purchase of the club and very grateful to Larry Lucchino, Sam Kennedy, and the entire Red Sox organization for entrusting us with this incredible franchise.”
The deal must be approved by Minor League Baseball, but the sale is expected to be completed by the end of the year, DBH said.