As the city of Worcester plans to build a new stadium for the baseball team formerly known as the Pawtucket Red Sox, several community banks are grabbing their bats and stepping up to the plate.

Berkshire Bank, Unibank and Country Bank have all signed on as founding sponsors of the Boston Red Sox’s triple-A affiliate, The Boston Globe reported yesterday.

As founding sponsors, businesses must commit to pay at least $100,000 per year. Club owner Larry Lucchino had reportedly been worried about drumming up business support, but the newly named Worcester Red Sox already have 19 founding sponsors.

They include Assumption College, Polar Beverages, Unum, Hanover Insurance, MGM Springfield and real estate firms Fontaine Brothers and Stonegate Group. The Worcester Telegram & Gazette has also signed on, as has Table Talk Pies.

The Pawtucket Red Sox are not the first minor league team to come to Worcester. The city is also home to the Worcester Railers in the East Coast Hockey League and the Massachusetts Pirates arena football team, both of which play out of the DCU Center.

The Pawtucket Red Sox officially announced the move to Worcester in August, following a breakdown in negotiations with Rhode Island lawmakers for a new stadium in Pawtucket.

The move means a new 10,000-seat new stadium in Worcester’s up-and-coming Canal District.

The city of Worcester plans to borrow $100 million to pay for the new stadium, then create a special taxation district that encompasses the ballpark and surrounding development to generate new tax revenue to pay back the loan.

The PawSox organization is also contributing $33.8 million toward the cost of building the stadium. The state is committing $35 million in public money for the development over the next two to three years, including $2.5 million in tax incentives, for the residential apartments part of the project.

Overall, the team is looking to raise $3.1 million annually from corporate sponsors.

Community Banks Sign on as Corporate Sponsors of ‘WooSox’

by Bram Berkowitz time to read: 1 min
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