PawSox to share financial information with state auditor general

PROVIDENCE, R.I, (WPRI) — After previously refusing to disclose certain financial information, the Pawtucket Red Sox have agreed to share the requested information under the condition that state leaders don’t make it public.

Eyewitness News learned of this development in a letter Rhode Island Senate President Dominick Ruggerio sent to the state’s auditor general on Thursday.

In the letter, Ruggerio asks for Auditor General Dennis Hoyle’s help in analyzing the documents regarding the team’s revenue information.

“I request a determination,” Ruggerio, D-North Providence, wrote in part, “based on your review of the Team’s past financial audits and future operational projects, as to whether the Team would likely have sufficient operating income and cash flow capacity to support its portions of the projected debt service from the Ballpark at Slater Mill proposal as well as fund its share of proposed construction costs for the stadium.”

The letter indicates Hoyle will be allowed to review the team’s profit and revenue information. He will then be allowed to discuss his findings with Gov. Gina Raimondo and other General Assembly leaders.

The information in the financial documents will not be made public.

Last week, the team had refused to disclose profit and loss information after it was requested by the Senate Finance Committee.

In Thursday’s letter, Ruggerio explains that Hoyle’s review will not be an audit, and he will be required to sign a non-disclosure agreement.

The letter did not indicate when Hoyle will conduct the review.