7 Questions the PawSox Need to Answer in Hearings
Thursday, September 14, 2017
There are a number of critical questions that the Pawtucket Red Sox will need to answer in the coming weeks to build forward momentum for legislative approval for a new stadium -- and a chance to rebuild the very damaged PawSox brand.
Over a 30-plus year period, the previous PawSox ownership group - led by Ben Mondor, Mike Tamburro, and Lou Schwechheimer and others - built the Boston Red Sox farm team into one of the most successful and most beloved minor league sports franchises.
SLIDES: 7 Questions the PawSox Need to Answer - BELOW
However, since the PawSox were purchased in 2015 by a group of businessmen with a combined personal wealth estimated at $8 to $10 billion, the team has been in a public relations free-fall.
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Only one of the owners lives full-time in Rhode Island. Despite their wealth, many believe that the owners have been in a non-stop mode of asking for public funding for a private concern.
Some of the proposals for the initial Providence stadium were in excess of $140 million. Their new plan for a Pawtucket "only" request is $38 million - although some including the RI General Treasurer Seth Magaziner are concerned that the entire $83 million stadium financing will be backstopped by Rhode Island taxpayers.
Read more about the ownership HERE
The PawSox ownership has refused interviews and is now asking for a total of $38 million in public financing to support the now proposed $83 million stadium.
According to the proponents, the proposal would include $23 million from the state and $15 million from the city. Bonds would be floated by the revenue source to pay off the bonds is amorphous.
The first of six hearings will be held on Thursday night at the Rhode Island State House in Room 313, beginning at 6:00 p.m. Read more about the hearings HERE.
“We want to ensure that the voice of the people is heard, and we welcome broad participation from our constituents in these discussions,” said Senate Finance Chairman Bill Conley in announcing the hearings. “The Senate remains committed to the most open, transparent, and deliberative process possible. The Senate Committee on Finance will thoroughly scrutinize all aspects of the legislation during intensive public hearings, and we will receive testimony from anyone wishing to register a position or provide input.”
Additional Hearing Dates:
Tuesday, September 26, 2017 at 6 p.m. at William E. Tolman High School Auditorium, 150 Exchange St., Pawtucket: The committee will review potential ancillary development and Pawtucket’s risk, and take public testimony.
Tuesday, October 3, 2017 at 6 p.m. at the University of Rhode Island, Swan Hall Auditorium, 60 Upper College Road, Kingston: The committee will examine the economic model and review state level risk analysis, and take public testimony
Wednesday, October 11, 2017 at 6 p.m. at the New England Institute of Technology, Media Presentation Theatre, 1 New England Tech Blvd., East Greenwich: The committee will conduct general inquiry into previous testimony and presentations, and take public testimony.
Thursday, October 12, 2017 at 6 p.m. at Roger Williams University School of Law, Room 283, 10 Metacom Ave., Bristol: The committee will continue its inquiry and take public testimony.
Thursday, October 19, 2017 at 6 p.m. at Bryant University, Bello Center Grand Hall, 1150 Douglas Pike, Smithfield: The committee will continue its inquiry and take public testimony.
Related Slideshow: 7 Questions the PawSox Need to Answer in Hearings
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