The New York Times Co. says it has retained investment firm Goldman Sachs to help explore a sale of its stake in the company that owns the Boston Red Sox.
Investors have been pressuring the company to sell assets as advertising revenue plummets.The company holds a 17.8 percent stake in New England Sports Ventures, which owns the Boston baseball team as well as Fenway Park, a portion of a cable sports network and other properties.
New York Times Hires Goldman Sachs For Boston Red Sox Sale - wbztv.com
Should be interesting to see who the potential buyers will be.
about 3 years ago
Randy Booth
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$200mil is the price..
I could put together about $500K USD, so how about another 400 of you rustling up the rest and we get the deal done!
Funnily enough, they’d be better off selling the paper and keeping the Sox, much better returns projected for the next few years.
For those children who claimed they’ve been a fan of their favorite team all their life, or even since they were about four or five years old: bullshit. There’s always that certain event or certain player that draws to the sport and draws you to a team. For me, Nomar Garciaparra was that reason. - Nick Coviello: I Try To See Rocco, But All I Think Is Nomar; 1/9/09
Damn it:
For those children who claimed they’ve been a fan of their favorite team all their life, or even since they were about four or five years old: bullshit. There’s always that certain event or certain player that draws to the sport and draws you to a team. For me, Nomar Garciaparra was that reason. - Nick Coviello: I Try To See Rocco, But All I Think Is Nomar; 1/9/09
Best comic strip ever.
Wouldn’t be surprised to see a Chinese or Middle Eastern bidder.
" PLEASE! CHANGE THE PATCH! "
by LOUtheMETandNATSfan on Jan 29, 2009 1:20 AM EST up reply actions
I wonder if they’d consider doing that the Packers did with a sale of public shares. I would buy one!
"We're not going to give up," It doesn't happen, so who cares? There's always next year. It's not like it's the end of the world."
Can you explain what they did?
I am not familiar with what Green Bay did there. I know that quite a few English premier league teams are publicly listed and subsequently people like us can buy shares if we chose….I reckon it’d be great.
The city owns them, and they won't ever sell.
For those children who claimed they’ve been a fan of their favorite team all their life, or even since they were about four or five years old: bullshit. There’s always that certain event or certain player that draws to the sport and draws you to a team. For me, Nomar Garciaparra was that reason. - Nick Coviello: I Try To See Rocco, But All I Think Is Nomar; 1/9/09
sorry, I must have confused
it with something else I heard….can’t remember, but the Celtics did have shareholders for a few years for revenue-they had sold Celtics shares previously, but they bought the shares back in like 2002
"We're not going to give up," It doesn't happen, so who cares? There's always next year. It's not like it's the end of the world."
The city does not own them.
They have put shares of the team up for sale a few times in order to raise money for the team. However, the shares can never appreciate and produce no dividends. About 112,000 people have an ownership interest in the team and decisions are made by a board of directors. Theres also a limit on the number of shares any one person can own, so no individual can gain too much control. Cool set-up.
I meant the citizens of the city.
For those children who claimed they’ve been a fan of their favorite team all their life, or even since they were about four or five years old: bullshit. There’s always that certain event or certain player that draws to the sport and draws you to a team. For me, Nomar Garciaparra was that reason. - Nick Coviello: I Try To See Rocco, But All I Think Is Nomar; 1/9/09
Definitive video on Mark Cuban.
"It's just a tiny little nick, but it hurts when I get champagne in there."
- Jason Bay, on getting spiked scoring the winning run in ALDS Game Four.
I wonder if he could actually become part owner of the Sox...
The rhythm is the bass and the bass is the treble
by DirtySouthSox on Jan 28, 2009 7:03 PM EST up reply actions
Oh God, no....
"Hey we got a lot in common here... I'm gonna rape you"
by MerryGoByeBye on Jan 28, 2009 7:07 PM EST up reply actions
I respect Mark Cuban. He is passionate and I like that, but I don’t know if I’d want him to be any where near the Red Sox…
+1
For those children who claimed they’ve been a fan of their favorite team all their life, or even since they were about four or five years old: bullshit. There’s always that certain event or certain player that draws to the sport and draws you to a team. For me, Nomar Garciaparra was that reason. - Nick Coviello: I Try To See Rocco, But All I Think Is Nomar; 1/9/09
Not surprised.
The Times is hurting pretty bad in general.
Though they had an interesting editorial today advocating a non-profit model for newspapers.
Manny ain't the only bad man.
Oh yeah
When they’re hemorrhaging, then they advocate a non-profit model. Please.
" PLEASE! CHANGE THE PATCH! "
by LOUtheMETandNATSfan on Jan 29, 2009 1:22 AM EST up reply actions
That was an Op-Ed piece
Not a Times editorial.
I gotta go 'cause I'm probably definitely gonna nod out again.
by Drugs Delaney on Jan 29, 2009 7:21 AM EST up reply actions
"....advocating a non-profit model for newspapers"
Geez, if that’s not throwing up the biggest white flag ever, I don’t know what is.
They might as well say, “uh, our business model is stuck in the 20th century, we have no way of turning it around and our stock will be worthless by July 2009”
10% drop in 4th quarter revenues
and almost 50% drop from 2007 in fourth quarter profits.
Definitely time for the white flag.
Manny ain't the only bad man.
I don't mean to be harsh, but...
I own several small businesses in Australia and even I could see the writing on the wall for print media and subsequently their advertising revenue. It was fairly obvious early on in this century once the combination of google ads and blogging took hold there was no longer a requirement for many businesses to continue to utilise the resources of traditional print media.
Now where are the rest of you…if we each throw up $500K each we can buy it. I reckon we could probably steal it for about $160mil….
Totally.
Craigslist + Monster.com + blogads = Death for newspapers. I think we all saw it coming, and now it’s here. The irony of course is that online advertising doesn’t really seem to be a working model either.
It’s too bad – I like reading the paper. I really miss the “Metro” section in the Times, it’s been condensed into the front section. I definitely don’t get as much local news on-line. I imagine it’s out there, but I haven’t found it.
I’ll put in $1500 towards the Sox. I’ll have to skip a few months of loan payments, but it’ll be worth it.
Manny ain't the only bad man.
So do I
and I still get the Sydney Morning Herald delivered to the house 7 days a week. There’s something inherently quaint about getting home after work and sitting out on the back verandah with a beer and the paper whilst the kids frolic in the pool.
You must remember its summer here right now…
We just had another snowstorm-of-the-week here in Beantown
"You know you're having a bad day when the fifth inning rolls around and they drag the warning track." - Mike Flanagan, Baltimore Orioles pitcher, 1992.
I could maybe do 500K yen
but in USD? Who you think you’re hanging with? I mean, our most frequent commenter is 15 years old.
I'm sorry.
For those children who claimed they’ve been a fan of their favorite team all their life, or even since they were about four or five years old: bullshit. There’s always that certain event or certain player that draws to the sport and draws you to a team. For me, Nomar Garciaparra was that reason. - Nick Coviello: I Try To See Rocco, But All I Think Is Nomar; 1/9/09
Hmm... I can put in about a grand.
I apologize for my inability to earn a wage.
For those children who claimed they’ve been a fan of their favorite team all their life, or even since they were about four or five years old: bullshit. There’s always that certain event or certain player that draws to the sport and draws you to a team. For me, Nomar Garciaparra was that reason. - Nick Coviello: I Try To See Rocco, But All I Think Is Nomar; 1/9/09
Sydney, love the idea
Here’s one issue with it. If we the readers and authors of OTM bought a share of the Sox, we’d have to include disclaimers with everything we write.
Fanpost 1178
“Theo Epstein is a God!
[The OTM Partnership group owns a 17.8% stake in the Boston Red Sox.]”
Fanpost 1179
“Francona needs to learn to pull relievers sooner.”
[The OTM Partnership group owns a 17.8% stake in the Boston Red Sox. The comments here, although in a community forum, do not necessarily represent the opinions of all partners. Furthermore, they should be in no ways construed as indictments of the judgment of the management.]
Fanpost 1180
“Wakefield is old and washed up, and he needs to go, IMHO!”
[The OTM Partnership group owns a 17.8% stake in the Boston Red Sox. The comments of this poster do not represent the views of the partners. They respect all of the many contributions Tim Wakefield has made to the organization and the community, even if some of our partners feel he should never pitch in the playoffs again.]
On the plus side, as partial owners we would have grounds to sue Halos Heaven and other sites for damages to the company, in the form of malicious libel and slander.
"It's just a tiny little nick, but it hurts when I get champagne in there."
- Jason Bay, on getting spiked scoring the winning run in ALDS Game Four.
by 0157H7 on Jan 28, 2009 10:17 PM EST reply actions 1 recs
How much more fun if we had a 17.8% stake in the New York Yankees.
"no1 has time to read your long comments, are you writing a book?"
"Jeter is washed up"
[The OTM Partnership group owns a 17.8% stake in the New York Yankees. The comments of this poster absolutely do represent the views of the partners. Wake up, New York, and smell the coffee.]
"You know you're having a bad day when the fifth inning rolls around and they drag the warning track." - Mike Flanagan, Baltimore Orioles pitcher, 1992.
by SoxDevil on Jan 29, 2009 12:29 PM EST up reply actions 1 recs
I’d like the call this meeting of the OTM Partnership group to order. First item on the agenda, making the New York Yankees wear platform shoes when they take to the field.
"no1 has time to read your long comments, are you writing a book?"
Goes with the thong.
For those children who claimed they’ve been a fan of their favorite team all their life, or even since they were about four or five years old: bullshit. There’s always that certain event or certain player that draws to the sport and draws you to a team. For me, Nomar Garciaparra was that reason. - Nick Coviello: I Try To See Rocco, But All I Think Is Nomar; 1/9/09
Hottest Fans in AL East
More Hardball wants to know who has the hottest fans in baseball. We’ll be running a set of posts over the following weeks featuring images of each teams’ hotties, with a voting poll to crown a champion. We’re starting with the AL East and we’ll continue through the rest of the American League, then on to the National League. Sticking true to Major League Baseball’s roots, there will be an eight team playoff system where the winners of each division square off with addition of a wild card team to determine who wins the pennant and represents each league in the World Series of Hotness. Link- http://morehardball.blogspot.com/2009/01/hottest-fans-of-al-east_29.html
We Should Be GM's @ http://pabaseball.blogspot.com
More Hardball @ http://morehardball.blogspot.com
I gotta go 'cause I'm probably definitely gonna nod out again.
by Drugs Delaney on Jan 29, 2009 8:57 AM EST up reply actions
Woah...
Wow, that is pretty hot!
We Should Be GM's @ http://pabaseball.blogspot.com
More Hardball @ http://morehardball.blogspot.com
How does a team not from California win this competition?
Unless there’s some requirement for “fandom”. I suggest that if they can name all starting 9, the team’s ace and closer, and the manager, they count.
"You know you're having a bad day when the fifth inning rolls around and they drag the warning track." - Mike Flanagan, Baltimore Orioles pitcher, 1992.
in all seriousness
Could you have found a photo of a fatter group of people? The only thing marginally decent is the bird sitting next to the Mike Lowells brother up the back. I only think she’s half decent because I’m 44, married and have 5 kids….
Any better, Syd? :-)
I gotta go 'cause I'm probably definitely gonna nod out again.
by Drugs Delaney on Jan 29, 2009 6:15 PM EST up reply actions
I would like to request that this competition allow all baseball teams.
UF.
For those children who claimed they’ve been a fan of their favorite team all their life, or even since they were about four or five years old: bullshit. There’s always that certain event or certain player that draws to the sport and draws you to a team. For me, Nomar Garciaparra was that reason. - Nick Coviello: I Try To See Rocco, But All I Think Is Nomar; 1/9/09
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