Red Sox Ownership Makes Strong Statement About Potential Sale
Summary
The Boston Red Sox ownership group, led by the Henry family, says they are not planning to sell the team. The Fenway Sports Group, which owns the Red Sox, has grown its sports portfolio over the years but remains committed to keeping the baseball team. This comes amid rising values for sports franchises and recent strong performance by the Red Sox.Key Facts
- The Boston Red Sox ownership is led by the Henry family, including John and Linda Henry.
- Red Sox president Sam Kennedy stated that the Henry family is never selling the team.
- Fenway Sports Group (FSG) bought the Red Sox, Fenway Park, and the New England Sports Network (NESN) in 2002 for $660 million.
- FSG has also owned Liverpool (a Premier League soccer team), NASCAR’s RFK Racing, Boston Common Golf (TGL), and the NHL’s Pittsburgh Penguins.
- The Penguins have since been sold, but FSG still holds their TV rights through Sportsnet Pittsburgh.
- Sports team values have increased significantly, with the Los Angeles Lakers selling twice in two years for about $22.5 billion.
- Red Sox fans called for a sale during a poor season start, but the team’s recent winning streak has quieted those requests.
- The Henry family’s commitment to not selling the team may be tested in the future given the high value of sports franchises.
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