TD BANKNORTH GARDEN CHIEF KREZWICK RESIGNS POST ABRUPTLY
[THIRD Edition]
Boston Globe - Boston, Mass.
Subjects: United States; Chief executive officers; Arts, entertainment & recreation
Author: Sasha Talcott Globe Staff
Date: Dec 9, 2005
Start Page: D.1
Section: Business
Document Text
Richard Krezwick, a vocal supporter of Boston's bid to host the Democratic National Convention in 2004 and the man who negotiated a lucrative naming rights deal to rename the FleetCenter the TD Banknorth Garden, is out as the arena's chief executive.
Krezwick's abrupt resignation, made public late yesterday, comes as the arena is bouncing back from a hockey lockout that ended the Bruins' season last year. Delaware North Cos., which owns the Garden, yesterday appointed John Wentzell, general manager of the Garden, to take Krezwick's place as interim chief "effective immediately," but said Krezwick would stay on until next month.
"We reached an agreement today that I would move on," Krezwick said. "I offered notice that I'd be happy to help out until the end of the year and beyond if I can be any help."
Charlie Jacobs, a Delaware North executive vice president, described the decision as mutual and said Krezwick left voluntarily. "We ended on a very amicable basis," he said. "If there is such a thing as a good breakup, this is it."
But the breakup may not have been as amicable as both parties suggested. Two sports executives briefed on the situation, who asked not to be named because of the sensitivity of the matter, said Krezwick has sparred on and off with Jacobs, and that Krezwick did not want to leave his job. Jacobs, son of Bruins owner Jeremy Jacobs, has been widely viewed as the heir apparent to run the arena and the Boston Bruins since disclosing his move to Boston in 2002. That put Krezwick's role, and his autonomy, into question.
In 2003, Krezwick told The Boston Globe that he was worried about his job at the arena, and that Delaware North had been interviewing other people for his spot. Krezwick wound up staying, the Globe reported at the time, after Boston Bruins president Harry Sinden fought hard to keep him. Jacobs said yesterday, "We've always had a pretty good relationship."
In Krezwick's 10 years at the helm of the arena, which was known as the FleetCenter until it was renamed this year, he was known for pushing hard to bring high-profile events to Boston.
He and other tourism officials flew to Idaho to lobby to bring college basketball's Women's Final Four tournament to the Garden in 2006.
He also joined with Mayor Thomas M. Menino and US Senator Edward M. Kennedy to bring the DNC to the arena despite the fact that the Delaware North would have to forgo revenue from other events to do it.
"He was central to that bid," said Patrick B. Moscaritolo, president of the Greater Boston Convention & Visitors Bureau. "He was the first one out of the box in terms of supporting this when many people thought Boston couldn't host an event like that."
Krezwick also is involved in early plans to bid for the 2008 US gymnastic trials and the US figure skating championships for Boston, said Don Stirling, chief executive of the Massachusetts Sports & Entertainment Commission, where Krezwick serves on the board.
"He loves Boston," Stirling said. "He loves that building, and he was its greatest ambassador."
Earlier this year, Krezwick persuaded TD Banknorth, a Maine bank, to pay one of the highest prices in the country for naming rights to the building. The deal, worth about $6 million a year, is triple what FleetBoston Financial Corp. previously had paid.
At the same time, Krezwick talked Fleet, which was acquired by Bank of America Corp. and wanted to give up its naming rights, into paying several million dollars to get out of the con- tract.
"Rich was an extraordinary operator, well respected in the industry," said Larry Moulter, former chairman of the FleetCenter. "He had a great deal of progressive thoughts when it came to the changing world of arena management."
Wentzell said he learned of his new role from Delaware North's management late yesterday morning. He said there will be a search for a permanent successor, but he has not given any thought to whether he will apply. In any case, Wentzell said, he does not expect a permanent chief executive to be chosen for months.
"It's exciting," he said. "It's a great challenge."
< Sasha Talcott can be reached at
[email protected].