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Endeavor interested in buying Triple-A Worcester Red Sox

Initial reaction from most WooSox partners about Endeavor's offer, believed to be in excess of $50M, was to reject itWORCESTER RED SOX

Endeavor has "interest in buying" the Triple-A East Worcester Red Sox, according to Michael Silverman of the BOSTON GLOBE. Endeavor "expressed its interest" to WooSox Chair & Principal Owner Larry Lucchino in the fall. The initial reaction from most of Lucchino’s 10 partners about the offer, believed to be in "excess of $50 million," was to "reject it." But Lucchino is "open-minded about selling." That could leave some or all of the 10 partners -- one is Fenway Sports Group, which owns the Red Sox -- in a "position where they agree to sell their shares along with Lucchino’s to Endeavor." Alternatively, the partners could "seek to gain control by purchasing Lucchino’s stake presumably at a price comparable to what Endeavor is willing to pay." Endeavor made a "grand entrance into the MiLB ownership ranks last month," when its newly formed Diamond Baseball Holdings subsidiary "purchased 10 teams from six major league franchises." The City of Worcester is "responsible for more than half of the construction costs" of the Woosox' Polar Park, plus it "holds development rights for several surrounding parcels" (BOSTON GLOBE, 1/7). Lucchino when asked about possible negotiations between the WooSox and Endeavor admitted that he "received a proposal from the company, but nothing else." Lucchino believes that it is "only a matter of time before the team is sold." In Worcester, Joe McDonald notes any potential deal "involves the team, not the ballpark" (Worcester TELEGRAM & GAZETTE, 1/7).

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