Theo Epstein is becoming a part-owner and advisor for Fenway Sports Group.
Theo Epstein led the Red Sox to two World Series titles as general manager. He is now returning to the team as a minority owner as well as a part-time senior adviser to Fenway Sports Group, which owns the Red Sox.
Epstein will help the sports and film conglomerate with its operations and investment strategy.
He also helped the Chicago Cubs achieve the 2016 World Series, which was their first title in 108 years.
“This is truly an unforgettable possibility for me — a chance to partner with individuals who meant a lot to me; a chance to push myself in new arenas; and the chance to use my knowledge and expertise to help others succeed and thrive at the highest level,” Epstein stated in a statement.
“The special connection I feel toward the business and the ownership group has stayed via me through the years.”
Football teams like the Red Sox, the Pittsburgh Penguins, Liverpool in the English Premier League, and RFK Racing in NASCAR are all owned by Fenway Sports Group.
Epstein said that in his new job, he will “ask questions, give his opinion, build trust, and help the great people at FSG take us to new heights.”
Epstein is leaving his job as a consultant for Major League Baseball. In that role, he worked on changes to the rules that were meant to make the game more exciting.
Because Arctos Partners owns a piece of FSG, he will still be an operating partner for that company.
Epstein became the smallest general manager in baseball history when he joined the Red Sox in 2002 when he was 28 years old.
He helped build the team that won the championship in 2004, which was the first time the Red Sox had won the title in 86 years. After he left, he also helped the Cubs win their first title in a long time.
Key owner of Fenway Sports Group John Henry declared in a statement, “There is no doubt that Theo left a permanent imprint on our history that marked a transformative era.”
“With his strategic mind, leadership, as well as an unwavering passion for sports, Theo brings valuable resources that will drive us forward across the diverse enterprises, especially in our sports operations across hockey, EPL football, as well as baseball.”
Major League Baseball said on Friday that Theo Epstein quit his job to become a part-owner and senior advisor for Fenway Sports Group. He used to be the general manager of the Boston Red Sox.
Epstein was a key figure in some of MLB’s recent rule changes. He will continue to serve in an informal capacity on MLB’s competition or on-field committees.
A lot of professional sports teams and franchises are owned by Fenway Sports Group. These include the Boston Red Sox, Liverpool FC of the Premier League, the Pittsburgh Penguins of the NHL, RFK Racing, and Boston Common Golf.
People first heard of Epstein, 50, when he worked for the Red Sox as general manager from 2003 to 2011.
“Welcoming him as a member of our owning group and in the role of senior advisor to the wider company comes with it a sense of completion.”
He quit the Red Sox to become president of baseball operations over the Chicago Cubs. He stayed in that job until the end of the 2020 season.
Along the way, Epstein won all three World Series titles, breaking curses that had been going on for a long time in both Boston as well as Chicago.
“There is no doubt that Theo left a lasting impression in our history that marked a time of change,” said John Henry, owner of the Fenway Sports Group, in a statement.
Epstein said in the same statement, “I am thrilled and honored to be returning to FSG, to join John, Linda, Tom, Mike, Sam, and the rest of the ownership group, as well as serve in this new role.”
“This is truly a one-of-a-kind chance for me—a chance to work with people who are important to me, to push myself in new ways, and to use my knowledge and experience to help some succeed as well as win at their highest level.”