June 12, 2017

Cliff Rucker buys stake in Palladium

Photo courtesy/Creative Commons/John Phelan
Cliff Rucker, owner of the Worcester Railers Hockey Club, has a 25 percent ownership stake in the Worcester Palladium.

Worcester Railers Hockey Club Owner Cliff Rucker added another property to his downtown portfolio with the purchase of an ownership stake in the Worcester Palladium.

In a phone interview, Rucker said he made the purchase because he wants to increase activity downtown and secure several properties as a long-term investment for himself.

"I am committed, along with city leadership, to creating things for people in Worcester to do. The Palladium is one of the few things on Main Street that has fairly consistent events, but I think we can increase programming significantly," said Rucker. "I'm a firm believer that activity creates activity."

Rucker did not disclose the financial terms.

The Palladium's 3,000-seat venue had about 25 mostly heavy metal shows last year, said Rucker. He said he hopes to bring about 100 shows the the venue annually, and bring in classic rock, country, indie and pop performers to diversify its offerings.

He now owns 25 percent of the music venue itself, with an option to buy the remaining 75 percent over the next two years. His purchase of 25 percent of the Palladium's operating company is subject to approval by the Massachusetts Alcoholic Beverage Control Commission.

Rucker also owns the Bowditch & Dewey building at 311 Main St., the Worcester Sports Center hockey rink in the Canal District, and is currently renovating 90 Commercial St. into a Railers-themed bar that will open this October when the hockey team begins its inaugural season.

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