The Red Sox have new ownership. Sort of.
The New York Times Company sold off its remaining shares in Fenway Sports Group on Friday to undisclosed buyers who are believed to already be minority shareholders in the club, according to the Boston Globe.
Fenway Sports Group includes the Boston Red Sox, the Liverpool Football Club, 80 percent of NESN and half of Roush Fenway Racing.
The Times originally bought a 17.5 percent stake in the Red Sox in 2002 for $75 million, and has been gradually selling off portions of that share. In the end, the company will have sold its shares for $225 million, which comes out to a tidy profit of $150 million. The company will post a $38 million pre-tax gain in the second quarter, according to the report.
