Looking for some positive buzz amid fan unrest, the Boston Red Sox have turned to one of the key figures from their past to join their ownership group.
Per Brendan Coffey of Sportico, Theo Epstein is getting an ownership stake in Fenway Sports Group and will take on a role as a senior advisor for the Red Sox in a deal that will be officially announced Friday.
“It’s a great honor, something I’m really excited about,” Epstein said in a video call. “It’s just exciting to be joining such a dynamic, groundbreaking company across multiple sports, doing so many innovative things at the cutting edge of everything going on in sports these days. For me, it’s perfect. I was looking for a pathway into ownership.”
When the Red Sox announced chief baseball officer Chaim Bloom and general manager Brian O’Halloran weren’t returning to the organization in those roles, team president Sam Kennedy said Epstein wasn’t being considered for either position.
O’Halloran is remaining with the Red Sox as executive vice president of baseball operations.
Since Epstein stepped down as president of the Chicago Cubs in November 2020, he’s primarily been focused on getting into sports ownership. He joined private equity firm Arctos Sports Partners in February 2021.
The firm has purchased a stake in more than 20 different sports franchises, including the Red Sox, Cubs, Los Angeles Dodgers, Golden State Warriors, Sacramento Kings and Utah Jazz.
Major League Baseball hired Epstein in January 2021 to serve as a consultant in “on-field matters.”
Coffey noted Epstein will leave his role with MLB to join Fenway Sports Group, but he will retain his position as an operating partner with Arctos Sports Partners.
The addition of Epstein to the Red Sox’s ownership group comes two weeks after Kennedy was booed, along with chief baseball officer Craig Breslow, onstage at the annual fan fest event for the lack of additions to the roster this offseason.
“I want you to know the boos, the anger, the hate we see on social media, we get it,” Kennedy said on stage. “It is our job to turn things around to make you proud. There’s only one way to turn the boos into applause, and that’s winning baseball games. That’s on us.”
Kennedy went on to say that Boston’s payroll will “probably” be lower this season than it was in 2023.
The Red Sox have finished last in the AL East in back-to-back seasons and three times in the past four years. They’ve only made the playoffs once since winning the World Series in 2018.
Epstein was one of the key architects in building the 2004 Red Sox team that broke the Curse of the Bambino. He was their general manager from 2002 to ’11, winning World Series titles in 2004 and 2007.