Source: Red Sox To Be Sold
Oct. 06, 2000
BOSTON (AP) _ The Boston Red Sox, one of baseball's most storied franchises, have been put up for sale by majority owner Yawkey Trust, a team source told The Associated Press on Friday.
The decision comes as the Red Sox are planning to build a new stadium to replace fabled Fenway Park.
Further details were not immediately available, but the team scheduled a news conference for Friday.
The Red Sox had been in the Yawkey family since 1933, and that trust has held a majority interest since 1994.
The American League club had six owners from 1901 to 1933, most notably Harry Frazee, infamous for selling Babe Ruth to the New York Yankees for money to finance his Broadway musical ``No, No Nanette.''
Thomas W. Yawkey purchased the club from J.A. Robert Quinn in 1933.
When Thomas Yawkey died in 1976, ownership was passed to Jean R. Yawkey, his widow. She owned the club outright until 1977, when the JRY Corporation was formed. Yawkey and Haywood C. Sullivan owned the team until 1992.
Between the Yawkey family and the trust, the team has the greatest seniority among baseball team ownership.
But as long as eight years ago, Red Sox chief executive John Harrington had talked about selling the team.
The announcement came as a surprise in the midst of the Red Sox's campaign to build a new stadium.
In July, the Legislature passed a bill that called for the team to pay $350 million for construction of a $665 million ballpark in the city's Fenway neighborhood, near the old ballpark. But the proposal had met with criticism from neighborhood activists and city councilors
And there were published reports that the team was having difficulty arranging financing for the project.