We’re not entirely sure whether the fact the New York Times Co. could help itself out of a big mess by selling the Boston Red Sox for a possible $200 million means the curse of the Bambino is alive or dead. Either way that’s what sports bankers (first time we’ve ever used that term) are saying the team could fetch.
Given the Boston club’s strong finances, larger TV network holdings and other assets, including a stake in a NASCAR racing team, the Red Sox are worth $1.3 billion or more, analysts said. Accounting for the club’s estimated debt, the Times stake could be worth more than $200 million.
The Times could sell its stake back to current partners in the ownership group, friends or family of those partners, or turn to outsiders, analysts said. it could even sell multiple smaller stakes or retain a smaller share of the club.