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Wednesday, February 19, 2014

The Other Owner: How Mike Gordon Has Become a Key Red Sox Figure

Over the last 18 months or so, limited partner Michael Gordon has emerged as an increasingly important figure in the affairs of both Fenway Sports Group and the Red Sox. According to multiple industry sources, when The New York Times sold its 17.5 percent ownership stake in FSG (and the Red Sox) in three separate transactions (each to multiple investors) totaling $210 million from July 2011 through May 2012, Gordon—one of the team’s limited partners since Henry became principal owner in 2002—emerged as the second-largest shareholder in Fenway Sports Group and the Red Sox, with a larger stake than Werner. Only Henry owns a larger share of the Red Sox and FSG.

Gordon does not have a title in the Red Sox organization, nor does he have an office at Fenway Park. But he has become a significant voice in all of the FSG holdings, including the Red Sox and (particularly) Liverpool Football Club. While he is in many ways the member of the ownership group who is most directly responsible for the day-to-day activities of the soccer team, Gordon has seen a steady growth of his involvement in both the business and baseball operations of the Red Sox.

So who is he?

Some interesting detail on the Red Sox 2nd largest shareholder.

Jose is an Absurd Doubles Machine Posted: February 19, 2014 at 01:04 PM | 6 comment(s) Login to Bookmark
  Tags: red sox

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   1. The Yankee Clapper Posted: February 19, 2014 at 08:19 PM (#4659384)
Only Henry owns a larger share of the Red Sox and FSG.

So why did Henry, Werner & Lucchino water down their stake by allowing Gordon to increase his?
   2. Jim Wisinski Posted: February 19, 2014 at 08:24 PM (#4659387)
They didn't, Gordon increased his stake by buying part of what the NYT sold.
   3. The Yankee Clapper Posted: February 19, 2014 at 08:32 PM (#4659391)
They didn't, Gordon increased his stake by buying part of what the NYT sold.

Well, yes, but why didn't Henry et al keep it for themselves?
   4. Jim Wisinski Posted: February 19, 2014 at 09:35 PM (#4659412)
Didn't feel like it was worth the financial outlay I guess. Let's say they were thinking about a $50 million stake purchase; based on what I found about the $117 million sale by the NYT in July 2011 that would have gotten you a 4% stake in the group. To buy that they would have to feel that 4% of FSG would be more profitable than whatever else they could do with that money; it's not like their positions within the ownership group are threatened by Gordon's stake increase. So it's not that surprising I think that they were fine with their buddy increasing his stake relative to theirs.
   5. Infinite Yost (Voxter) Posted: February 19, 2014 at 09:42 PM (#4659416)
It's worth noting (I think) that Liverpool had a bit of a rough season last year, but are near the top of the table this season, and are threatening to break the London / Manchester choke-hold on the prestige spots in the Premiership. Some of that has to do with MU's surprising decline, but there does appear to be a football renaissance on in Liverpool, which is historically the capital of English football.
   6. toratoratora Posted: February 19, 2014 at 09:44 PM (#4659417)
TFA makes it abundantly clear Gordon is Buds buddy too

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