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The Boston Globe


From the archives

For sale: Red Sox say timing good for new era

Just weeks after leading a grueling but successful battle for passage of a bill to build a new Fenway Park, Red Sox chief executive John Harrington announced yesterday that he is selling the Yawkey Trust’s controlling interest in the storied franchise.

At an emotional news conference in Fenway Park’s 600 Club, Harrington said he would have preferred to sell the trust’s majority stake in the team after ground was broken on a new ballpark. But he said that obtaining private financing and negotiating city and environmental approvals would take longer than anticipated, and that it made sense to bring in new owners so they could participate in shaping the final funding package and deciding whether to make any changes in the ballpark plan.

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