Red Sox President John Harrington is profiled in BOSTON
magazine. Scott Farmelant writes that despite his statements
that he has no "interest in becoming owner of the team,
[Harrington] had fended off almost two dozen bidders over the
years, and he shows no signs of relinquishing his hold on the
team. Indeed, he has leveraged his association with the Red Sox
into a leading role in the cast of the most powerful owners in
major league baseball." Although Harrington's management of the
team "has been mixed at best" he "remains highly regarded in
downtown [Boston] business quarters" and had "emerged as
something of a sacred cow." But "the bloom may soon be coming
off the rose colored-view of Harrington's stewardship" as the
team developed financial problems two years ago due to the strike
and that has led Harrington to "quietly refinance" the team in
'94 by taking out a revolving bank loan of $30M, "possibly
mortgaging Fenway Park in the bargain." The team's "weakened
financial condition" has put Harrington in a tough position in a
time "when the team needs help," and his rejection of suitors
"may result in a potentially damaging and expensive lawsuit
challenging his control." BOSTON's Farmelant: "The picture that
emerges of this diffident, enigmatic figure is of a caretaker who
may have stayed on too long and a de facto owner who may be
playing out of his league" (BOSTON, 6/96).
