John Henry denies Red Sox sale
By Lawrence Delevingne
Thu Sep 13, 2012
A FOX Business story based on anonymous sources said earlier that Henry's Fenway Sports Group was quietly shopping the team; the fund manager adamantly denied it.
John Henry has firmly denied rumors that his Fenway Sports
Group is quietly working to sell the Boston Red Sox. The
founder of hedge fund firm John W. Henry & Co. was said to
be "quietly shopping the team to potential buyers" in a FOX
report today that cited unnamed sources. The article
alleged that losses at the hedge fund are "likely weighing on
the consideration to sell the team."
"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. This report is completely
Henry told the Boston Globe.
"Regarding unnamed sources: Any sale discussions that may have
taken place were missing three key people—[co-owners]
Larry [Lucchino], Tom [Werner] and me. The Sox and any of the
other components of FSG are not for sale and will not be for
the foreseeable future."
Managed futures focused JWH ran $3.5 billion in 2005 but has
fallen to about $162 million today, according to the firm's
website. The largest fund, $100 million JWH GlobalAnalytics, is
down 15.90% this year through August. JWH Diversified Plus,
which manages $31 million, is also down 5.19% in 2012.
While his hedge fund fortunes have suffered, Henry is now best
known as a principal owner of the Red Sox, which he bought with
partners for $690 million in 2002 and successfully turned into
a two-time World Series champion. More recently, he purchased
Liverpool Football Club of the English Premier League in
October 2010 for $476 million. Henry’s portfolio
of companies—via Fenway Sports Group—also
includes Fenway Sports Management, a sales and marketing
company; television channel New England Sports Network; and
Roush Fenway Racing, a NASCAR team.
John W. Henry & Co. hires business development
ISSN: 2151-1845 / CDC10004H