One of the most lucrative sports franchises in the United States is quietly being shopped around to potential owners. The Boston Red Sox, owned by Fenway Sports Group, which also owns the English football team Liverpool FC, is worth at least $1 billion.
Are the Boston Red Sox on the market? Fox Business Network (FBN) has learned that Fenway Sports Group is considering a sale of one of the most historic teams in U.S. sports history and is speaking with potential purchasers, according to sources with direct knowledge of the situation.
The talks are quite premature and the ownership has not made a final decision to even sell the team. One of the primary motivations to sell the Red Sox is affordability. Since Fenway Sports owns both Liverpool FC and the Red Sox, it is being debated if they can afford both teams.
It is reported that the Red Sox are worth between $1 billion and $1.3 billion. John Henry, owner of Fenway Sports, purchased the team in 2002 and garnered two World Series within five years (2004 and 2007).
Henry denied the reports, however, according to the Boston Herald.
“Tom (Werner) and I speak 7 days a week. A sale of any kind is so far from our thinking it hasn’t even come up apart from technical planning issues involving death or disability,” Henry stated in an email to the news organization.
“This report is completely without foundation. Regarding unnamed sources — any sale discussions that may have taken place were missing three key people — Larry (Lucchino), Tom and me. The Sox and any of the other components of FSG are not for sale and will not be for the foreseeable future.”
The team recently dumped $250 million worth of contracts to the Los Angeles Dodgers: Josh Beckett, Adrian Gonzalez and Carl Crawford. This comes as the team has suffered two miserable seasons. At the time of this writing, the Red Sox are last in the American League East division by sporting a 64-79 record, even though it has a $146 million payroll, which is the fourth highest in baseball.