EMC co-founder Marino emerges as buyer for Red Sox
BOSTON (AP) _ Roger Marino, a high-tech tycoon who previously owned the Pittsburgh Penguins, has revealed that he is one of the bidders to buy the Boston Red Sox. <br><br>Marino made his fortune as co-founder
Friday, December 8th 2000, 12:00 am
By: News On 6
BOSTON (AP) _ Roger Marino, a high-tech tycoon who previously owned the Pittsburgh Penguins, has revealed that he is one of the bidders to buy the Boston Red Sox.
Marino made his fortune as co-founder of EMC Corp. of Hopkinton. In recent years, he has invested in a variety of ventures, including StorageNetworks Inc., one of this year's hottest local IPOs. He also owned the Pittsburgh Penguins for two and a half years.
Marino didn't immediately return a telephone message left for him on Friday afternoon. But he told The Boston Globe he had filled out the application to bid and was ``looking forward to the next step.''
Red Sox spokeswoman Jodi Powell said, ``We are not commenting on any potential bidders.''
The Yawkey Trust, which is selling its majority stake in the team, has received dozens of the applications, but Marino was the first applicant to confirm his intentions publicly.
Justin Morreale, a lawyer representing the Yawkey Trust, didn't immediately return a telephone message seeking comment on Friday.
The Yawkey Trust's 53.5 percent interest in the team could cost $300 million to $500 million, the Globe reported.
Marino took the Penguins into bankruptcy court in October 1998 for protection from creditors. The team was eventually bought by hockey legend Mario Lemieux, who had been the team's biggest star.
At the time of the bankruptcy filing, Marino, who was co-owner of the team with movie producer Howard Baldwin, cited losses of $37.5 million over the last two seasons.
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