Polar CEO Crowley to become part owner of PawSox
Courtesy | Worcester Red Sox/Kate Foultz
Polar Beverages President and CEO Ralph Crowley Jr. (center) drinks a Polar seltzer with Worcester Mayor Joe Petty (left) and PawSox Chairman and owner Larry Lucchino.
Ralph Crowley Jr., president and CEO of Worcester manufacturer Polar Beverages, will become a part owner of the Pawtucket Red Sox as the team plans for its 2021 move to the Canal District.
PawSox Principal Owner and Chairman Larry Lucchino made the announcement of Crowley's ownership at the ceremonial groundbreaking of the $101-million Polar Park stadium on Thursday in Worcester. Polar has the stadium naming rights and is a founding sponsor of the team as it becomes the Worcester Red Sox.
In an email, team spokesman Bill Wanless confirmed that Crowley and his family will be joining the ownership group in the future.
In 2015, a 10-member ownership group led by Lucchino bought the Pawtucket Red Sox for more than $20 million, although the exact purchase price was never disclosed. With the addition of Crowley, that ownership group has grown to 13 people.
In addition to leading Polar Beverages, Crowley owns the $470-million company with his four siblings, along with the Wachusett Mountain Ski Area in Princeton, which had 505,000 visitors last year.
In addition to Lucchino and now Crowley, the other members of the PawSox ownership group include:
- Ben Cammarata, founder of Framingham-based retailer TJX Cos.
- William Egan, founder and general partner of private equity firms Alta Communications & Marion Equity Partners, both in Boston
- Habib Gorgi, managing director of Providence private equity firm Nautic Partners LLC
- Sam Kennedy, president and CEO of Boston Red Sox.
- J. Terrence Murray, former chairman, president and CEO of Fleet National Bank in Boston (now part of Bank of America)
- Thomas Ryan, former chairman, president and CEO of CVS Caremark
- Frank M. Resnek, partner of the Boston Red Sox and Fenway Sports Group
- Paul Salem, senior managing director emeritus of investment firm Providence Equity
- Jim Skeffington, Jr., the son of former owner by the same name and a CVS executive. The elder Skeffington died of a heart attack in 2015.
- Mike Tamburro, vice chairman of the Pawtucket Red Sox
- Jeff White, financial advisor to the president and CEO of the Boston Red Sox
Most Recent
Most Recent
0 Comments