Financial Deal on New Red Sox Stadium

Boston Red Sox Triple-A affiliate agrees to pay $36 million toward the city of Worcester’s new $86 million venue. While the stadium will remain city owned, the team will receive all in-venue revenues. The venue is expected to host at least 133 events per year; eight by the city owned events and the remaining 125 by the team. Per documents released by the city, Madison Properties will provide the land for the stadium as the company looks to develop the district surrounding the venue into a commercial and real estate district. The Red Sox affiliate will be responsible for any additional stadium costs as they will make a major contribution to the design and construction of the venue.

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