72 replies to this topic

[BannedbyNYYFans.com]

Cuban might buy the Red Sox at 1.3 but bidding will surely take it higher than that and he would be out. Let's not forget, when the Dodgers bidding started getting crazy Cuban threw his hands up and walked away.

This. I was living in LA when Cuban was rumored to be involved in the purchase of the Dodgers and he did a ton of local sports media interviews. And he repeatedly said he thought they were overvalued like a lot of baseball clubs. He said he had no interest with the numbers that were being thrown around by McCourt and his accountants. McCourt eventually got the price he wanted but if you heard Cuban talk at the time, it sounded like he had no interest in overpaying for a baseball team. Obviously things might be different now but I'd be surprised.

Edited by BannedbyNYYFans.com, 13 September 2012 - 03:15 PM.

[941827]

I am a big believer in every asset is for sale at any time. How could it get worse than the last 12 months? I am ready bring on the change.

"BOSTON -- Frank McCourt and Curt Schilling are reportedly leading an investment group that has expressed interest in buying the Red Sox....A real estate group led by McCourt recently purchased a large area of land in Hartford, Connecticut, a site previously earmarked for a stadium for the New England Patriots before the construction of Gillette Stadium in Foxborough. McCourt has expressed interest in building a 'state-of-the-art' baseball facility there similar to that of the Florida Marlins....Schilling will reportedly serve as a spokesman for the group, with a minor investment in the team."

[glennhoffmania]

"BOSTON -- Frank McCourt and Curt Schilling are reportedly leading an investment group that has expressed interest in buying the Red Sox....A real estate group led by McCourt recently purchased a large area of land in Hartford, Connecticut, a site previously earmarked for a stadium for the New England Patriots before the construction of Gillette Stadium in Foxborough. McCourt has expressed interest in building a 'state-of-the-art' baseball facility there similar to that of the Florida Marlins....Schilling will reportedly serve as a spokesman for the group, with a minor investment in the team."

Is that from The Onion? McCourt buying the team and moving it to Hartford? Schilling getting involved with another NE business? I call hoax.

[Snodgrass'Muff]

Not from the Onion, but also not real (as far as I can tell). Funny as hell though. Well done 941827.

[Andrew]

It's from the brain of 941827.

[Domer]

"BOSTON -- Frank McCourt and Curt Schilling are reportedly leading an investment group that has expressed interest in buying the Red Sox....A real estate group led by McCourt recently purchased a large area of land in Hartford, Connecticut, a site previously earmarked for a stadium for the New England Patriots before the construction of Gillette Stadium in Foxborough. McCourt has expressed interest in building a 'state-of-the-art' baseball facility there similar to that of the Florida Marlins....Schilling will reportedly serve as a spokesman for the group, with a minor investment in the team."

A source close to McCourt indicated that the potential owners intend to honor Larry Lucchino's contract extension.

[jacklamabe65]

Bob Kraft as a dark horse candidate.

[Fred not Lynn]

Nah, Kraft owns a soccer team too.

[pjr]

Peter Gammons‏@pgammo
One who knows Boston ownership situation and sale rumors:"Bad source, wrong info."

[Carroll Hardy]

Right church, wrong pew?

[SoxScout]

http://www.foxbusine...-just-wont-die/

No matter how many times he tries to deny it, Boston Red Sox owner John Henry can’t shake talk that he’s looking to unload the storied baseball franchise.
The latest word to make its way around baseball circles is that Henry is seeking a minority owner for the Fenway Sports Group, the holding company that owns the Red Sox, the FOX Business Network has learned. The current thinking, executives say, is that Henry is entertaining the idea of selling a minority stake, or what’s known as a “limited partnership,” in the holding company that he controls.

While Henry denied that report, rival baseball owners are now telling FOX Business that the management of Fenway Sports is weighing selling a chunk of the holding company to potential investors.
Once again, the Red Sox denied the matter. “There is absolutely no truth to any other sale or claim that John Henry is selling the team or a piece of FSG,” said Red Sox spokeswoman Zineb Curran.
And once again, these denials are unlikely to end speculation about the franchise’s future.

“Selling a minority investment is a great thing for majority owners,” said Michael Cramer, former president of the Texas Rangers and Dallas Stars and now a professor at the University of Texas at Austin. “You give up no control and you get the increase in the value. There’s almost no downside, except you’re giving up the upside to the extent you want to stay long term.”

[redsoxstiff]

Could be blowing air up your skirt...

Could be rats and a sinking ship...The Redsox surely fill the bill...

This team isn't in a solid position,,,the 263M notwithhstanding...

If this is one of the activities on the plate (npi)...it is overflowing...

Edited by redsoxstiff, 12 October 2012 - 12:09 PM.

[gammoseditor]

Who cares if they sell a minority stake? Am I missing something? They already have minority owners and it's common for teams to have minority owners.

[Paul M]

This and what was reported before are night and day. I guess in a search for yield there's money out there but I am not sure I'd be sinking a lot into this holding company. I guess this will reveal to some extent the new valuation of the holding company and indirectly the team.

[zenter]

Agreed with all those who say it would be absurd for the ownership not to keep their ears open in good times or bad, but I find the whole Liverpool-as-a-distraction argument to be rather spurious.

I mean, a CEO of a company (say, Google) has many properties and delegates ongoing responsibilities to their division leaders. They're not going to get involved in nitty-gritty unless things are going rather consistently wrong, which the last 13 months have (obviously) been. There's no sense in having an over-active CEO when you have layers of theoretically-competent people between the product and that CEO. Meanwhile, Liverpool being a newer acquisition, there is more attention a CEO will need to pay in order to fully integrate them into FSG and execute plans. Think how involved Henry was in the first 2-3 years of Red Sox versus the later good years where he stepped back.

[Spacemans Bong]

What might be most concerning is it suggests they might need money. I could be wrong, but we've occasionally questioned where they are getting the money to buy into so many sports properties.

[Lose Remerswaal]

Agreed with all those who say it would be absurd for the ownership not to keep their ears open in good times or bad, but I find the whole Liverpool-as-a-distraction argument to be rather spurious.

I mean, a CEO of a company (say, Google) has many properties and delegates ongoing responsibilities to their division leaders. They're not going to get involved in nitty-gritty unless things are going rather consistently wrong, which the last 13 months have (obviously) been. There's no sense in having an over-active CEO when you have layers of theoretically-competent people between the product and that CEO. Meanwhile, Liverpool being a newer acquisition, there is more attention a CEO will need to pay in order to fully integrate them into FSG and execute plans. Think how involved Henry was in the first 2-3 years of Red Sox versus the later good years where he stepped back.

Bolded the key parts. I think Henry has less day to day hands on time with the Sox now than he 5-9 years ago. And I think Larry Lucchino has more control over the team's actions.

Do you think Larry Lucchino is as competent as John Henry at running a winning MLB team? If so, then things are fine as is. If not, then you're right to be worried about distractions.

I also think Theo Epstein was a better GM 5-9 years ago than Ben Cherrington is right now, which reinforces my agreement with the bolding regarding competence.

[wutang112878]

Really unlikely scenario but is there any chance that they want the minority partner and his money to buy-out Larry? I know Larry said he signed an extension and will have a 'seat at the table' on baseball matters, but lets be honest this wouldnt be the first time the RedSox said something that wasnt true. I believe Larry received some small stake in the team right? So perhaps they want him out, and he wants the X% of the team he was promised and the only way to settle on a $ figure is to get the valuation of the team and holding company by getting a minority owner?? Again very unlikely.

Bolded the key parts. I think Henry has less day to day hands on time with the Sox now than he 5-9 years ago. And I think Larry Lucchino has more control over the team's actions.

Do you think Larry Lucchino is as competent as John Henry at running a winning MLB team? If so, then things are fine as is. If not, then you're right to be worried about distractions.

A related question is whether or not its a good thing that Larry has more control while Henry is more hands off? Larry is still Larry, but perhaps there were previously some checks and balances that arent monitored as closely as they are today. Thats where I sit, that the answer to the organizations problems arent just Henry being more engaged, but removing some power from Larry and thats what makes the 'are they spreading themselves too thin' argument relevant to me.

[redsoxstiff]

I am very glad that no one has charitably presented a ton of economic data on this issue...

I have driven by HBS ,MIT Sloan ( actually have eaten there often in my past existence)...Wharton School and several other buisness schools of some note...

My Take on this is The Bostron Red Sox are a glowing gem in the sporting world...

Nascar and Liverpool can easily slide into the dumpster...

I don need anybody to show me stinking dollars...They are evaluating if anything...

So sell the Sox to be left with...? Two Augean Stables??

Edited by redsoxstiff, 12 October 2012 - 02:06 PM.

[JimBoSox9]

There was speculation on TSH today that the truth behind the rumors is that FSG wants to sell Liverpool. Its value has dropped a lot since the purchase and they want to cut their losses and improve the overall balance sheet of the holding company.

That that with bags of salt (didn't pick up on a source if they had one), but it wouldn't totally stun me.

[wutang112878]

If thats true, in essence the sales pitch to the minority owner is something like 'hey come join FSG, we need your money so our cash loss to sell Liverpool doesnt hurt our books. But this is the investment of a lifetime!' I have to imagine it would be very difficult to find an investor willing to do that, and structure the deal so that the investor doesnt immediately just lose a big chunk of the equity.

[soxfan121]

If thats true, in essence the sales pitch to the minority owner is something like 'hey come join FSG, we need your money so our cash loss to sell Liverpool doesnt hurt our books. But this is the investment of a lifetime!' I have to imagine it would be very difficult to find an investor willing to do that, and structure the deal so that the investor doesnt immediately just lose a big chunk of the equity.

You don't think there's a dumb millionaire sports fan who wouldn't want to own a piece of his favorite team? Liverpool probably has at least one very deep-pocketed supporter who would write a check to get access to the locker room. The Red Sox certainly have their share of guys like that; Drinkwater, Kapstein, Les Otten.

[Sausage in Section 17]

There was speculation on TSH today that the truth behind the rumors is that FSG wants to sell Liverpool. Its value has dropped a lot since the purchase and they want to cut their losses and improve the overall balance sheet of the holding company.

Not true according to Forbes. While people at FBN sit around and speculate, John Henry continues to make millions. He swooped in and yanked the team away from Tom Hicks who was in financial trouble, and bought at low value. He paid $475M, and Forbes valued them at $619M in April. Nice little 25+% increase in 2 years. http://www.forbes.com/teams/liverpool/

Liverpool or the Sox may win or lose, but John Henry keeps winning every year. He's been building an empire and I'd sooner expect to hear that he was buying another team than selling anything.

Edit- to be literally fair to your point, Henry bought for what was widely considered to be below market value. So while Liverpool may be worth less than it was, Henry is profiting, like he pretty much always does.

Edited by Sausage in Section 17, 13 October 2012 - 12:06 AM.