Does anyone know what JWH paid for the Boston baseball team? How was this purchase financed? anyone??? Thanks, surf
Yes, they added a lot of seats due to the modernization. They're breaking attendance and revenue records and are profitable.
I'm still trying to figure out how he's able to keep his clients - every program he manages has lost money over the last three years. Maybe they get free Sox tickets
He sold the Florida Marlins of which he owned 100% for 160m prior to buying the BoSox. He had paid cash when he bought the Marlins from Wayne Huizenga. There were also several minority partners such as the NYT in the Henry/Warner syndicate. I have no idea how much was borrowed but Henry etal also assumed 40m in existing debt. I would guess the Red Sox turn a profit of 15m a year without playoff revenue and perhaps an additional 1m more per playoff game played at Fenway. Perhaps a few mil less if David Ortiz takes in his meals in the clubhouse. Ain't gonna be no playoffs there this year.
he keeps his clients cause he was a GOD for over a decade. Massive returns. Shit changes, and Henry is a trend following FX trader. In 2 yrs, he'll be a God again. Its how the hedge mkt works. Those of you who say no way, JWH is Toast are the same group who think oil and gold can only go up. Goes BOTH ways folks. Jay