Red Sox Hate Yankees & Patriots

[RayClay]

All anyone has to do is look at the economics of this $70 million purchase.

It is obvious, it has nothing to do with journalism or the newspaper business.

Just Googlemap "135 Morrissey Boulevard". The building/land alone is worth $50 million. Throw in the equipment inside, the trucks, etc. and you have a cash deal for property.

The New York Times bought the Boston Globe for $1.1 billion 10 years ago.

What this economically screams is that the "newspaper" is worthless.

Throw in the fact that the Times will be keeping all pension obligations Henry won't have any. This is very rare in any industry outside of newspapers these days.

Folks - - John Henry just bought $70 million of real estate and equipment.

Wow, great post. There's no newspaper industry anymore. I'd still be surprised if he couldn't turn that into a good media buy. It's still a great brand without need for the paper and ink.

 

[shmessy]

shmessy, that was not my intention at all. Not for a second do I think that the limited number of posters in his thread (including me) are a representative sample of Patriots fans. And you can make a solid argument about Bob Kraft and the Globe, but I would prefer their treatment, as shabby as it's been at times, to the grossest abomination and lie ever perpetrated upon Kraft and the Patriots - namely, Tomase's hatchet job prior to the SB, followed by their pathetic, useless front page apology when it was determined Tomase lied. Notice, I didn't say he was mistaken. He lied and got caught in that lie, and continues to work there today as if it all never happened. Then, Ron Borges is caught plagiarizing by the Globe and gets fired. And what organization happily hires him? The local rag known as the Herald.

I hear ya, J2, but you're setting the comparison level there exceptionally low when you bring out Tomase and the Herald.

"The Globe is not as bad as the Herald" is like "Sings the National Anthem better than Roseane Barr".

 

[Patsrock]

A couple things:

1. This current Red Sox ownership was not the ones who had the proposed new stadium. That was under Harrington

2. I think Henry bought the Globe to give him land to possibly build a new Fenway.

 

[PatsWickedPissah]

No way enough land

 

[BTTA]

All anyone has to do is look at the economics of this $70 million purchase.

It is obvious, it has nothing to do with journalism or the newspaper business.

Just Googlemap "135 Morrissey Boulevard". The building/land alone is worth $50 million. Throw in the equipment inside, the trucks, etc. and you have a cash deal for property.

The New York Times bought the Boston Globe for $1.1 billion 10 years ago.

What this economically screams is that the "newspaper" is worthless.

Throw in the fact that the Times will be keeping all pension obligations Henry won't have any. This is very rare in any industry outside of newspapers these days.

Folks - - John Henry just bought $70 million of real estate and equipment.

Exactly. What he bought is real estate (new Fenway Park location?) and media assets. There's no such thing as a newspaper anymore, really. They are all multimedia outlets with a formula made up of original journalism, news aggregation, and community interaction.

What can they do with the potential synergy between NESN and Globe assets? Only they have thought that through at this point. The rest of us are guessing.

Someone here mentioned the potential loss of Globe subscribers if the coverage of the Pats goes down. These media outlets don't run on subscriptions; that's a tiny portion of the revenue, and of their future. It is about internet metrics that lead to advertising revenue: web page views, click throughs, etc.

And yes, if there is any hint of interference by management in the editorial decisions (how to cover the Pats, how much to cover the Pats, placement of the Pats stories vs. the Sox stories, etc.) the good journalists, the ones with real credentials and capability, will protest, sabotage, and leave.

 

[BTTA]

One owner is referred to as Mr. Kraft
The other is called Dr. Creepy
$70 million should take care of that....not

PS...who gets their football news from a newspaper. And Boston.com.......I have both Boston.com and ESPN in my no fly zone unless absolutely necessary.
I start with Reiss....then hit PatsFans message board in case Reiss missed something. Our guys do a nice job filtering the Pats news. Then, maybe a click on Florio for some gossipy trash. I do indulge in a Boston Herald.com glance every once in while because it reminds me of my days grabbing the afternoon NY Post for my subway ride uptown.

LOL at Dr. Creepy.

Only problem above is that if you start with Reiss, then you start with ESPN.

 

[PatsWickedPissah]

People google the morrisey blvd site
One more time
NFW you can fit a stadium there

 

[shmessy]

A couple things:

1. This current Red Sox ownership was not the ones who had the proposed new stadium. That was under Harrington

2. I think Henry bought the Globe to give him land to possibly build a new Fenway.

#1 is factually correct.

#2 is an opinion I don't share. Fenway is PERFECTLY sited for the Red Sox. It is very near impossible for the Red Sox to leave Fenway at this time.

a)In fact, the state is still giving them big, fat wet kisses with a brand new Yawkey Station commuter rail stop now being built next to the Pike.

b) Fenway was added to the National Registry of Historic Places last March. This means they cannot tear it down unless it is a public hazard. What would any businessman do with 7.5 acres of non-developable real estate in the hottest property neighborhood of one of the 10 hottest real estate cities on earth?

c) The Red Sox just spent $285 million in less than 10 years renovating and expanding Fenway.

d) The closing of Yawkey Way for private use by the Sox on game days (how is that even legal?) cannot be replicated on Morrissey Boulevard.

e) Henry is partnering with a lot of the real estate developments happening in the Fenway. In fact, they are partnering with developer John Rosenthal in a half billion dollar development using air rights over the pike - - The Fenway Center. So It Looks Like Fenway Center's Back On... - Arrested Development - Curbed Boston

Sorry, but there are too many points of data screaming that the Red Sox are tied to Fenway park for at least several decades to come. There is very little public transportation near 135 Morrissey Boulevard and the costs would be exponentially larger, with far less return than the opportunities they have now in Fenway.

 

[Jackson 2]

I hear ya, J2, but you're setting the comparison level there exceptionally low when you bring out Tomase and the Herald.

"The Globe is not as bad as the Herald" is like "Sings the National Anthem better than Roseane Barr".

Lol, I like the analogy, but Borges also needs to be thrown into the mix. No one, no one hates the current Patriots ownership and coach more than he does. We all joke or offer opinions about mediots, but clearly, Borges despises the Pats. Oh, by the way, does one Michael Felger still write for the Hearst Rag? Now, there's a guy who's been fair with the Krafts and Belichick for the last few years. Case closed.

 

[borg]

LOL at Dr. Creepy.

Only problem above is that if you start with Reiss, then you start with ESPN.

Too funny...you got me. Guess Reiss is doing such a great job I forgot I was engaging the World Wide Leader in Manufactured Drama. To rephrase, I avoid ESPN.com at all costs. Reiss is an isolated subset that is virus free....so far.

 

[shmessy]

Lol, I like the analogy, but Borges also needs to be thrown into the mix. No one, no one hates the current Patriots ownership and coach more than he does. We all joke or offer opinions about mediots, but clearly, Borges despises the Pats. Oh, by the way, does one Michael Felger still write for the Hearst Rag? Now, there's a guy who's been fair with the Krafts and Belichick for the last few years. Case closed.

Actually Shaughnessy and Globe Sports Editor Joe Sullivan do.

You are missing the point.

Borges hates Belichick. That's just a football coach.

Shaughnessy and Joe Sullivan (ergo, the Boston Globe regarding football) hate Bob Kraft - - the business. The strategy is to sink the Patriots as a business. A petty feud with the coach (a la Borges) is small potatoes in comparison.

Borges/Herald versus BB is just a personality feud.

 

[resdubwhite]

People google the morrisey blvd site
One more time
NFW you can fit a stadium there

Don't worry.

There is no way Henry is moving from Fenway. The numbers simply do not work.

 

[Rob0729]

All anyone has to do is look at the economics of this $70 million purchase.

It is obvious, it has nothing to do with journalism or the newspaper business.

Just Googlemap "135 Morrissey Boulevard". The building/land alone is worth $50 million. Throw in the equipment inside, the trucks, etc. and you have a cash deal for property.

The New York Times bought the Boston Globe for $1.1 billion 10 years ago.

What this economically screams is that the "newspaper" is worthless.

Throw in the fact that the Times will be keeping all pension obligations Henry won't have any. This is very rare in any industry outside of newspapers these days.

Folks - - John Henry just bought $70 million of real estate and equipment.

I didn't think the land was worth that much. If it is, then I may be wrong.

That said, the land is only of value if he moves or closes the Globe to either a cheaper facility or a place they rent over own. Otherwise, land may be worth a lot on paper, but it doesn't mean anything to him until he sells it (where the land could be a very good long term investment).

Either way, if the land and equipment is worth $70 million, it is a good investment. If it worth $50 million it is still a good investment.

But I agree with PatsWickedPissah, there is no way they could put a stadium there. But then again, I don't think the residents of Southie would ever allow it. They have already fought against stadiums in another part of Southie that is much farther away from the residential communities. The site that both the Pats and Red Sox wanted to use back in the 90s was in the business section of Southie.

One correction though, the Times bought the Globe in 1993. So it was 20 years.

 

[shmessy]

I didn't think the land was worth that much. If it is, then I may be wrong.

That said, the land is only of value if he moves or closes the Globe to either a cheaper facility or a place they rent over own. Otherwise, land may be worth a lot on paper, but it doesn't mean anything to him until he sells it (where the land could be a very good long term investment).

Either way, if the land and equipment is worth $70 million, it is a good investment. If it worth $50 million it is still a good investment.

But I agree with PatsWickedPissah, there is no way they could put a stadium there. But then again, I don't think the residents of Southie would ever allow it. They have already fought against stadiums in another part of Southie that is much farther away from the residential communities.

There are no MBTA stops near there (JFK/Columbia Point?). There are THREE near Fenway (2 Green Lines and one brand spanking new commuter rail). Fenway cannot be torn down because of NHR listing.

Moving the team to Morrissey Boulevard is an impossibillity.

Henry's hedge fund has fallen from $2.5 billion a few years back to under $100 million in late 2012. 135 Morrissey Boulevard is a HUGE building. Look for the Globe to a) move to much smaller environs and cash out on the property or b) stay in the building and squeeze down to maybe half, while leasing out the other half.

 

[Rob0729]

There are no MBTA stops near there (JFK/Columbia Point?). There are THREE near Fenway (2 Green Lines and one brand spanking new commuter rail). Fenway cannot be torn down becuase of NHR listing.

Moving the team to Morrissey Boulevard is an impossibillity.

Henry's hedge fund has fallen from $2.5 billion a few years back to under $100 million in late 2012. 135 Morrissey Boulevard is a HUGE building. Look for the Globe to a) move to much smaller environs and cash out on the property or b) stay in the building and squeeze down to maybe half, while leasing out the other half.

The question is how much of the building is offices and how much is printing presses, warehousing, etc. If the office space is a relatively small chunk of the space, they may not be able to downsize at least without outsourcing the printing of the papers which is a possibility too.

Who knows? I am not a real estate magnet. I do own a piece of business property, but I am sure it could fit in the Globe's editor-in-chief's office.

 

[PatsWickedPissah]

Don't worry.

There is no way Henry is moving from Fenway. The numbers simply do not work.

The #s don't work and most importantly, a stadium complex with all it entails does not fit there. Yet folks keep posting that's a reason Henry bought the Globe. The RE is valuable, just not for Fenway Release 2.0.

 

[Brady_to_Moss]

I hate NY everything..but that's just me

 

[patfanken]

Some comment and opinions on the comments and opinions:

1. Once again I am stunned at the instant reaction to the allegation that the Red Sox hate the Patriots. What's the basis of this allegation. Let's see. Oh yeah, it was a an unsubstantiated comment at the end of an article looking to throw dirt on the purchase, by a local SD media mogul who makes Rupert Murdock look like a member of the ACLU......written in the freakin' Boston Herald. RIGHT, lets to to war based on that info .

That's why I find it amusing that this unsubstantiated rumor is treated as fact by so many in this thread. Since when does the Herald have ANY credibility. Clearly they are just pissed and jealous as usual. Hell, they just found out that if the Globe is now worth $70MM, their sorry rag is only worth half of that......or less

2. Personally I'm glad Henry got the Globe. I would have been happier if it had been Kraft, but I'd much rather local ownership than any "outside" bidder, ESPECIALLY the SD dude.

3. I don't think the property and assets on Morrissey BLVD are worth $70MM, but its certainly worth more than half that and that would make it a good investment on its own. Think about it, Henry bought the Globe for LESS than 7 cents on the dollar.

4. The comment by Schmessy (Ithink) that Henry doesn't have to take on old pension responsibilities is a huge win for him and makes this an even better deal.

5. The "newspaper" business can still be run profitably, but it has run radically different from the days when they had a virtual monopoly on the daily news.

6. Its just plain dumb to think that the Globe or John Henry can have any effect on the Pats operations or business. There are just too many other outlets for people to get their news. I used to be an avid Globe subscriber, but for the last decade, the Globe has been just a minor player in how I get my news, and almost non-existent in how I view the Pats. And that will be even more so now that Bedard is gone. So if the Globe went so far as to totally boycott the Pats, I'm not sure I'd notice.....nor would most anyone else.

7. If John Henry is smart, at the price he got it, he can make the Globe profitable if he concentrates on local coverage and works to direct more flow to the Boston.com web site. Don't forget a newspaper is really just an excuse to sell advertising space. That's where the real money is.

8. I doubt very much you will see much if any change to the editorial content of the paper

9. Contrary to what was written in the Herald it seems like there is little true animosity between the 2 organizations beyond the natural competitive desire to be the top gun in town. Can anyone point out a single example where this so called "hate" has manifest itself into an actual event?

10. IN the end, this was nothing more than another example of the Herald trying to CREATE the news, instead of just reporting on it.

 

[FirstAndGoal]

So some guy from San Diego who wants to buy the Globe, is claiming an anonymous source...sounds credible and not at all like sour grapes and a guy trying to rile up a fan base.

 

[Jackson 2]

Actually Shaughnessy and Globe Sports Editor Joe Sullivan do.

You are missing the point.

Borges hates Belichick. That's just a football coach.

Shaughnessy and Joe Sullivan (ergo, the Boston Globe regarding football) hate Bob Kraft - - the business. The strategy is to sink the Patriots as a business. A petty feud with the coach (a la Borges) is small potatoes in comparison.

Borges/Herald versus BB is just a personality feud.

A personality feud? Hell, that's like describing World War II as a neighborhood spat! Borges doesn't just hate Belichick. He hates Brady (loved Bledsoe), Kraft, Kraft's family (the only local **** who mocked Myra), Rodney Harrison (called him a fraud, phony and overrated) and we all could go on and on. You're right about Shank and Sullivan. You ought to be willing to admit I'm right about Tomase, Borges, Felger and, for that matter, Buckley who also hates Kraft, Belichick and the Pats in general. But, you won't.