The Latest: Senate committee wants PawSox financial info
PROVIDENCE, R.I. (AP) — The Latest on the proposal for a new stadium for the Pawtucket Red Sox (all times local):
The head of the Senate Finance Committee says the group will not move forward in considering a deal to build a new stadium for the Pawtucket Red Sox until the team turns over financial information the committee has requested.
The committee is considering the proposal for an $83 million stadium, which would be financed in large part by government-issued bonds. Team chairman Larry Lucchino told the committee this week the team would not disclose its revenue and profit.
Committee Chairman William Conley on Thursday said the committee needs the information to assess the financial stability of the team as a partner in the proposed ballpark. He said discussions are underway.
Conley said such deals usually are vetted by the state’s economic development agency, but that wasn’t done in this case.
Rhode Island Gov. Gina Raimondo says if the Pawtucket Red Sox want the state to partner with them to build a new stadium, the team should share information about its finances.
The Democratic governor told WPRO-AM on Thursday that if the Triple-A affiliate of the Boston Red Sox wants a state subsidy, it will have to open its books to state officials and members of the Senate Finance Committee, which is reviewing the proposal for an $83 million stadium.
If not, she says, they should finance it on their own.
Team chairman Larry Lucchino told the committee the team wouldn’t disclose its revenue and profit.
Raimondo says she respects that the team does not want financial information released publicly, but she says it should be shared with state officials confidentially.