RESOLVING THE LEDGER
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0 Share Newsweek is a Trust Project member See more of our trusted coverage when you search. Prefer Newsweek on Google to see more of our trusted coverage when you search. The Los Angeles Lakers have been sold twice within the last two years for an approximate value of $22.5 billion, with ownership originally changing hands from Jeanie Buss to Mark Walter, and since shifting from Mark Walter to Bob Iger and Josh Kushner.
It's quite hard to wrap your head around the specifics, but the important thing to know is that sports franchise evaluations are skyrocketing.
The Boston Red Sox are among the teams who could one day break the record for largest sale, but that day isn't coming any time soon.
"John Henry, Linda Henry -- the Henry family -- are never selling the Boston Red Sox," Red Sox president Sam Kennedy said in his appearance on WEEI's The Greg Hill Show on Thursday. "And that’s a sound bite you can play forevermore, I’d bet anything on that.”
The Fenway Sports Group has built quite the portfolio over the years, originally purchasing the Red Sox, Fenway Park, and NESN for $660 million in 2002 before expanding with the purchases/foundation of the Premier League's Liverpool, NASCAR's RFK Racing, TGL's Boston Common Golf, and NHL's Pittsburgh Penguins.
The Penguins have since been sold, though the organization still owns the television rights through Sportsnet Pittsburgh.
FSG has held firm on its stance that it would never sell the franchise that it is in part named after, though you can only take those statements with a grain of salt. Red Sox fans were begging for the sale earlier this season when the club wallowed in the depths of the American League, but have since been quieted with a 37-9 run that put them square in contention for the AL Wild Card.
It'll remain to be seen whether those words remain true.
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