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Red Sox to go NASCAR? PDF Print E-mail
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Written by The Staff   
Wednesday, 20 September 2006 01:18

Red SoxJohn Henry and the Fenway Sports Group are in talks to purchase as much as 50% of Roush Racing. Estimated price would be in excess of $50 million. Why the tie in?  Brand diverisification for the Red Sox and marketing opportunities for Roush Racing.

Both the Fenway Sports Group and Roush Racing confirmed the talks, but both said there is no agreement.

Roush Racing has been a top team in NASCAR as of late: 15 races were won by the team last year, and 5 are in the championship series for the Nextel Cup this season. As reported:

The Roush deal is part of the strategy by Red Sox ownership -- a partnership called New England Sports Ventures -- to diversify its revenue beyond baseball and New England Sports Network. Fenway Sports Group is a key to that effort. Its best-known client is Boston College's sports teams; it also negotiated a deal this year for Lumber Liquidators to become title sponsor of a truck for the NASCAR Craftsman Truck series.

For the Red Sox, these non baseball opportunities are particularly valuable because they are not subject to Major League Baseball's revenue-sharing tax. But they also raise dicey questions for Henry & Co. For instance, if the Red Sox owners can spend $50 million on a NASCAR team, why can the Yankees outspend them by $75 million a year for players? And why should taxpayers kick in for improvements around Fenway Park?

(The Boston Globe

 
 
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