Monday, June 25, 2012

Could Padre Sale Push Sox Value Over $2.5B?

For those of us who think John Henry is not wedded to the Carmine Hose for much longer, the pending sale of the San Diego Padres may make it too tempting for the Sox owner not to sell. The Padres reportedly have two bids on the table for $800 million. For the Padres. If you recall, the NOG paid just $700 million for the team in 2002 (which was significantly above the Forbes value of $426 million). Currently, Forbes values the Olde Towne Team at a cool one billion dollars even. But, historically, teams have sold way above valuation (the Dodgers were valued at $1.4 billion and just sold for $2.15 billion). So, if the Dodgers can sell for that outrageous amount—with fan ennui and a divorce scandal—how much would the Red Sox sell for? With a renovated Fenway Park, NESN, and a rabid fan base, how could the NOG not rake in $2.5B plus—a profit of $1.8B? Given the detachment of the ownership group over the last year, and their obsession with foreign soccer, the time may soon be ripe for their exit from Beantown.