John Henry's group

[scaffolds]

When the John Henry's group bought out the Boston Red Sox in early 2002 for around 700 Millions (don't remembe the exact amount) some of that amount was supposed to have been paid in cash, but if I remember correctly not all was paid cash and there was a debt pending on the total purchase amount. Does anyone know if that debt has been paid?

[Sox Fan on Cape]

When the John Henry's group bought out the Boston Red Sox in early 2002 for around 700 Millions (don't remembe the exact amount) some of that amount was supposed to have been paid in cash' date=' but if I remember correctly not all was paid cash and there was a debt pending on the total purchase amount. Does anyone know if that debt has been paid?[/quote']

 

I believe they have another year or two on that debt. But more importantly, they have have added to their plant and facilities debt ( luxuary field boxes, Green Monster seats, rehab of the outside facia, new players facilities, new field and dranage, remoldle of the 406 Club etc. All of these get applied against the revenue sharing ( similar to the Yanks ).

[scaffolds]

Ok, thank you, so does that means because of the added debt it will take more than a year or two to paid the whole amount.

[Sox Fan on Cape]

Ok' date=' thank you, so does that means because of the added debt it will take more than a year or two to paid the whole amount.[/quote']

 

It depends on the type of debt. Its to their advantage to pay off the improvements debt as slowly as possible.

[scaffolds]

Thank you again.