Sunday, November 18, 2012

New Rumors That John Henry Is In Selling Mood

Boston Herald Photo by Matt Stone
Despite repeated denials by Red Sox principal owner John Henry, rumors continue to persist that he is about to sell all or part of his financial interest in the Boston Red Sox. The latest round of rumblings suggest that new events have added to the likelihood of Henry pulling out. Specifically, the closing down of Henry's investment firm and the alleged huge financial claims by twenty plaintiffs against a former Red Sox clubhouse chief. While Henry and his ownership group were not around when the alleged sexual abuses took place (1960s-1991), they might be potentially on the hook for around $100 million in claims. So, the argument goes, Henry's investment losses, huge commitments to Boston and Liverpool sports franchises, and the looming legal issues, will force him to divest of at least some of his equity position in the Red Sox. Again, Henry and the Red Sox have denied all of this repeatedly.