Nov 9, 2012, 6:09 PM EST
The asset management firm that helped one of the Red Sox’s principal owners to amass his fortune is no more. John W. Henry & Company will shut down at year’s end, the company announced Friday.
The Wall Street Journal reports that Henry’s company managed more than $2.5 billion in 2006, but today oversees less than $100 million. Not all that money was necessarily lost, but it seems safe to suggest that Henry hadn’t been attracting new investors since taking a big hit in the market downturn.
The news figures to touch off a new round of “will the Red Sox be sold” stories, but the fact is that Henry’s company has been weak for four or five years now and shuttering it probably won’t affect his fortunes much.
- The Padres have given their fans something to talk about. Which is badly needed in San Diego. 32
- Justin Upton traded to the Padres for three prospects 78
- Bud Selig will get a $6 million a year pension. Which is obscene. 129
- Jake Peavy agrees to a two-year, $24 million deal to stay with the San Francisco Giants 22
- Matt Kemp has officially been traded to the Padres 29
- Padres acquire catcher Derek Norris from Athletics 35
- St. Petersburg City Council votes down deal to allow Rays to look for new stadium site 90
- What will the future of Cuban players in MLB look like? 25
- Baseball’s highest-ranking Hispanic woman employee sues for discrimination (163)
- The United States will seek to normalize relations with Cuba (144)
- Bud Selig will get a $6 million a year pension. Which is obscene. (132)
- Cubs, Red Sox, Dodgers, Padres, Rangers, and Astros interested in Phillies’ Cole Hamels (111)
- Rays, Padres, Nationals agree to 11-player trade (97)