The Boston Newspaper Guild, The Boston Globe's largest union, is supporting the New York Times Co.'s decision to sell the New England-based paper.

In a statement released this afternoon, guild president Dan Totten suggested that potential buyers follow the model used recently in Portland, Maine.

"In return for changes in their contract, the Portland Newspaper Guild and other union members are receiving limited ownership in the newspapers and two seats on the new company's board of directors," Totten explained.

"The Guild is encouraged by the New York Times Company's decision to put the Boston Globe up for sale," Totten said in his statement today. "We recognize that we are all facing difficult economic times and understand that any future owner of the Globe would require changes to our contract. We would like to explore with any potential new owner the possibility of an equity stake in the newspaper for its Guild employees and would work with any ownership group to be a positive dynamic in any sale process."

--Additional reporting by Hunter Walker

Totten's full statement after the jump

"The Boston Newspaper Guild is reiterating its call, which it made at the early stages of negotiations with the New York Times Company, to meet with any potential buyers of the Boston Globe to discuss our contract, and the future of the Globe and Guild members.

The Guild is encouraged by the New York Times Company's decision to put the Boston Globe up for sale. We recognize that we are all facing difficult economic times and understand that any future owner of the Globe would require changes to our contract. We would like to explore with any potential new owner the possibility of an equity stake in the newspaper for its Guild employees and would work with any ownership group to be a positive dynamic in any sale process.

We believe a good model for potential buyers to follow is the recent example of Portland, Maine. In return for changes in their contract, the Portland Newspaper Guild and other union members are receiving limited ownership in the newspapers and two seats on the new company's board of directors. We understand that the sale papers will be signed on Monday."

- Dan Totten, Boston Newspaper Guild President, June 10, 2009