John Henry has bit off more then he can chew
Fri, 12 Oct 2012|
Felger, Mazz, and Chris Gasper react to the reports that John Henry is seeking a minority owner
Is seeking a minority owner for the Fenway sports group. Obviously the holding company that owns the Red Sox the current thinking executives say. Is that Hendry is entertaining the idea of selling a minority stake or what's known as a limited partnership in the holding company that he controls. People with knowledge of the possible deal said that Henry's move stemmed from the poor performance. Of his investment company. John Henry Inco. And also to better finances English football team Liverpool FC. Henry's global analytic spun has lost just over 21% this year including six point 1% in September. Com baseball executives say -- is growing increasingly uncomfortable running to high profile sports franchises that eat a lot of cash. Without some help from outside. Henry is a Wall Street guy can read a balance sheet said one rival executive. He's getting killed in Liverpool and the Red Sox basically break even -- make a few blocks -- does very well. But having a partner will make him feel better from a financial standpoint. Long story short. The implication here that Henry short on cash between Liverpool. Is on. Between everything else he needs cash. Interesting to think about that if someone needs cash isn't selling 250 million dollars in salary the good way to help -- In the as alpha books -- I meant that helps you but I think the big take away from that. That is that everything they've ever told us I know you've been consistent on is -- this idea that -- over their separate entities with separate budget please does not matter I mean it's an all comes from the same source. Right that the Genesis of it is all the same the pockets of John Henry and that's why those that's why those things do matter. And you wonder. You know that that that quote from the -- against Reno stories talking about you know two high profile. Organizations that he a lot of -- what he didn't have Liverpool -- we feel the same way they still be looking at it Charlie desperate or is cracked for a minority investor and tapestry. This seems like to put in the simplest terms or not I'm not a financial -- any means and certainly not a math guy but the simplest terms. He bit off more than he could you.