The Boston Red Sox are an American professional baseball team based in Boston, Massachusetts. The Red Sox compete in Major League Baseball as a member club of the American League East division. The Red Sox have won eight World Series championships and have played in twelve. In addition, they won the 1904 American League pennant, but were not able to defend their 1903 world championship when the New York Giants refused to participate in a World Series. Founded in 1901 as one of the American League's eight charter franchises, the Red Sox' home ballpark has been Fenway Park since 1912. The "Red Sox" name was chosen by the team owner, John I. Taylor, around 1908, following the lead of previous teams that had been known as the "Boston Red Stockings", including the forerunner of the Atlanta Braves. Boston was a dominant team in the new league, defeating the Pittsburgh Pirates in the first World Series in 1903 and winning four more championships by 1918.