You May Soon Be Able To Own A Portion Of The Red Sox
Billy Beane, of Money Ball fame, has dipped his toes into the world of financial acquisitions and it appears his next target is the Boston Red Sox.
According to reports, Beane's company, Redball Acquisition, is attempting to acquire a 20-25% stake of the Sox which the company would then make publicly traded on the New York Stock Exchange.
Redball Acquisition has raised $575mil this year and is seeking an additional $800-950mil from capital partners to facilitate their minority purchase of Fenway Sports Group (FSG), whose assets include the Red Sox, Liverpool FC, the Fenway Racing NASCAR team and NESN, among other entities.
FSG, headed by John Henry, is currently valued at roughly $8-billion.
Sean McAdam of The Boston Sports Journal joined The Drive on Monday to talk about the potential acquisition and also the current managerial search for the Sox.