John Henry’s Fenway Sports Group is already in business with LeBron James and will likely soon be teaming up with Sidney Crosby.
Is Kyrie Irving next? How about a partnership with A-Rod?
FSG, the parent company of the Red Sox, is close to purchasing the Pittsburgh Penguins, team president Sam Kennedy confirmed Tuesday. Forbes values the Penguins at $650 million. The reported acquisition would be the first example of FSG flexing its newfound financial muscle after receiving a $750 million capital boost in March.
While it’s not uncommon for billionaire pro sports owners to own multiple teams, it’s rare for them to operate clubs in different cities. Jerry Reinsdorf owns the Bulls and White Sox; Ted Leonis owns the Wizards and Capitals; Terry and Kim Pegula own the Bills and Sabres; Paul Allen owns the Trail Blazers and Seahawks (close enough). Henry now owns the Red Sox and one of the Bruins’ top rivals, on top of Liverpool FC.
The other comparable sports franchising empire to FSG, Kroenke Sports, doesn’t carry that kind of conflict in its portfolio. Stan Kroenke owns the Nuggets, Avalanche and Rams, who play in a different conference than the Broncos. (Kroenke also owns Arsenal FC. The Premier League is hot for international business scions.)
Despite presiding over the most successful 20 years in modern Red Sox history, Henry and his FSG partners fail to command widespread adulation from Boston sports fans. Part of that is the schmoozing factor. As an example: Robert Kraft attended opening day of my LGBTQ flag football league, which the Patriots sponsor. He hung out for an hour and chatted with anybody who approached him — including me!
Those personal interactions with members of the community buy more clout than Super Bowl rings or World Series championships. Six Super Bowl wins can make you popular, but slapping hands with sweaty weekend warriors will make you beloved.
Henry, who prefers to communicate via late-night emails, doesn’t make many special appearances.
We know pro sports is a ruthless industry driven by billionaires with profit motives. But Henry makes it more obvious than most. Owning sports teams is different than owning office furniture chains or fast-food franchises. Communities identify more strongly with their NFL team than Arby’s. (Ironically, one possible exception is Boston, where Dunkies gives every cherished brand a run for its money.)
As an outsider, Henry has always faced PR challenges in a city known for its suspicion of those who aren’t “from heah.” FSG purchasing the Penguins only reinforces Henry’s perception as a wealthy interloper.
People think Henry views the Red Sox as part of business portfolio, and not part of his blood.
By the way, this arrangement has worked out just fine for the Red Sox. There was a lot of caterwauling when FSG bought Liverpool in 2010, and it wound up all being for naught. The Red Sox always boast one of the top payrolls in the league, and oh yeah, they’ve also won two more World Series. There’s no evidence the Penguins signing a topflight defenseman in free agency would prohibit the Red Sox from extending Rafael Devers.
But perception outweighs reality in this case. When the Red Sox traded Mookie Betts and went under the luxury tax in 2020, they were derided as cheapskates looking to save some cash for Roush Fenway Racing. Two years later, we can say that was a savvy baseball move.
By resetting the tax, the Red Sox didn’t pay the luxury tax penalty: surrendering their second-highest and fifth-highest draft picks. Those assets are valuable to a team looking to rebuild its farm system. Remember: Betts was a fifth-round pick himself.
Betts also isn’t worth $365 million. He posted his lowest OPS (.854) last season since 2018. That money would be better spent locking up Xander Bogaerts and Devers. Plus, Alex Verdugo is a solid everyday player as well, slashing .289/.351/.426 last season.
Still, the Betts trade is lambasted as a disaster. Amazingly, Henry professing his childhood love of Stan Musial didn’t win hearts and minds.
Going into business with LeBron isn’t the way to do it, either. The partnership may be great for Henry’s cultural cache, but it isn’t great for “Bob in Billerica.”
FSG may not be done adding, either, with its eyes reportedly set on buying an NFL team. Maybe the Johnsons will put the Jets up for sale.
LeBron has played 41 career playoff games against the Celtics; Crosby is one of the more loathed athletes in the city as well. The principle owner of the Red Sox will soon be financially tied to both of those guys.
It’s a peculiar arrangement, and another PR miss.
——————-
Brady’s “Man in the Arena” is the anti-“Last Dance:” Michael Jordan’s “Last Dance” was all about setting scores. Brady’s “Man in the Arena” will be about dishing out credit, if episode one is any indication of what’s to come.
Brady ceded the floor to Drew Bledsoe and Willie McGinest, allowing them to share their perspectives about his shocking ascension. In many ways, Bledsoe is the star of the episode. His handling of Brady’s ascension, and the lessons his demotion taught a young Brady about the fleeting nature of football stardom, are portrayed as indelible influences on Brady’s legendary career.
Unlike some of Brady’s other autobiographical works, namely “Tom vs. Time” and the TB12 Method, this project isn’t solely about advancing the TB12 brand. It’s humble and refreshing.
I can’t wait for episode two.
Charles Davis has stolen this media critic's heart: Step aside, Tony Romo. There is a new top NFL broadcaster on CBS.
While Charles Davis doesn’t receive the recognition of Romo, he’s been a sharper analyst this season. The former defensive back was on the call for Patriots-Browns Sunday, and was on top of the action. He correctly pointed out coverage schemes during replays and enjoys an easy banter with Ian Eagle.
With the Patriots at 6-4, we’ll see more Davis going forward, and less James Lofton. That’s great news.
Here come the bandwagon jumpers: Who needs friends when your enemies love you as much as the Patriots’ former critics in the national media? ESPN, once viewed as enemy territory among Pats fans, is littered with analysts predicting another Belichick Super Bowl run and lavishing him with praise: Ryan Clark, Dan Orlovsky, Rex Ryan. It’s like bizarro world.
The Patriots are definitely worthy of praise. They’ve looked excellent in their last four games and Mac Jones is playing like somebody who should’ve been the No. 1 overall pick. In a mediocre NFL, you might as well bet on Belichick.
There’s comfort in familiarity, even if it comes in the form of a disheveled hoodie and scowl.
