Red Sox owner to buy into Roush?

openwheelracer · Admin/Mod/Eyewitness

Red Sox owner to buy into Roush?

openwheelracer · Admin/Mod/Eyewitness

From Jayski.com:

Latest on Red Sox owner buying into Roush: Geoff Smith, the head of Roush Racing, said that the proposed merger with Red Sox owner John Henry's Fenway Sports Group is proceeding nicely, and if the deal is completed it should be by early February. Jack Roush and Smith are negotiating a sale of as much as 50% of Roush Racing to Henry and his company. "It's still progressing, and progressing positively toward closing," Smith said of the negotiations. "It's pretty straightforward on how it's proceeding. Lawyers are looking at documents, accountants are working on plans for operational adjustments that need to take place. All those practical things are in motion. People are out in the garage verifying how certain things work. I would expect by the time we show up in February at Daytona there will either be a deal in place or there won't be a deal at all."(Winston Salem Journal)(11-13-2006)

openwheelracer · Admin/Mod/Eyewitness

From Jayski.com:

Negotiations progressing between Roush and Red Sox owner: The negotiations in the sale of a portion of Roush Racing to Boston Red Sox owner John Henry's Fenway Sports Group are progressing well, Roush Racing President Geoff Smith said Saturday. Many of the major points have been agreed upon since the negotiations began in earnest in September. "The big principal points, that's all buttoned up," Smith said. "I think by the first of the year, we'll [know]. We're going along pretty fast. By Daytona for sure." One of those pieces involves what percentage of the racing organization the Fenway Sports Group will own. Jack Roush will not relinquish control of the team. "We have been open to being all the way up to equal [partners], but not more than equal [for them],"(SceneDaily.com)(11-19-2006)

openwheelracer · Admin/Mod/Eyewitness

From Jayski.com:

UPDATE: the [Red] Sox deal for a half-interest in Roush Racing, the class of NASCAR racing, is done. Reported price: $62 million. Formal announcement to follow.(at the bottom of a Boston Globe article)(1-5-2007)

openwheelracer · Admin/Mod/Eyewitness

From Jayski.com:

Fenway Sports Group/Roush deal completed, announced the 14th: A group of investors led by Boston Red Sox owner John Henry has completed a deal to buy a 50% stake in the Roush Racing NASCAR team, a person familiar with the negotiations said Friday. Although team owner Jack Roush is selling half of the team to the Fenway Sports Group, Roush will continue to run the team's competitive operations, according to the person, who requested anonymity because the deal hasn't been announced. Both parties have scheduled a Feb. 14 news conference at Jackie Robinson Ballpark [105 E. Orange Ave., Daytona Beach], a minor league facility near Daytona International Speedway. Roush, who was wearing his trademark fedora as he supervised his drivers at Daytona International Speedway on Friday evening, declined comment.(Associated Press)
also Roush Racing announced a major announcement with Roush Racing and Fenway Sports Group (FSG) executives; Red Sox players and Roush Racing drivers on Wednesday, February 14 at 5:30pm/et(Roush Racing PR)(2-10-2007)