WooSox Being Sold by Lucchino to Private Equity-Backed Minor League Baseball Group

WooSox Being Sold by Lucchino to Private Equity-Backed Minor League Baseball Group

A sports group that is owned by the private equity group Silver Lake is buying the Worcester Red Sox, GoLocal has learned from representatives close to the ownership.

The company, Diamond Baseball Group, which owns over 21% of Major League Baseball's 120 minor league affiliates, will be the new owner unless an unforeseen change occurs.

WooSox Chair Larry Lucchino had said when announcing that the team was for sale and that he was looking to sell the team to a local owner group.

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Earlier this month, GoLocal reported about the team going on the market. "I'm 78. It's time to sell the team," Lucchino told Bob Lobel and Mike Lynch in the podcast. "We're trying to find a local buyer."

But instead, the team is going to a sports group conglomerate.

In their boilerplate, Diamond Holdings states:

“We are excited to lead Diamond Baseball Holdings and create new opportunities for Clubs and communities that play an essential role in cultivating America’s favorite pastime. We will be global in our ambitions and hyper-local in our approach; and creating incredible fan experiences will remain our number one priority.”

PAT BATTLE, EXECUTIVE CHAIRMAN & PETER FREUND, CEO

This story was first published 11/30/23 5:30 PM