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Banzai
So Chuck Dolan (remember him) just submitted a new bid for the Red Sox; he upped his old bid by $40 million dollars. This is still under the Prentice bid, but it's substantially higher than the Henry bid. Further, Dolan doesn't have the potential financing problems Prentice does.
This is brilliant. Tom Reilly (he's the Massachusetts AG) has been hounding MLB, Bud Selig, John Henry, and certainly Harrington all week long. The current line from the Red Sox is that the limited partners were getting more money from the Henry bid due to the way it's structured. (All hail the baseball establishment's mastery of creative accounting.) Further, there's been niggling doubt about the financing of the Prentice bid.
Unfortunately for John Henry, the new Dolan bid has no such problems. Now, strictly speaking, the deadline for submitting bids was over almost a month ago... but the Red Sox have not rejected the Dolan bid just set. This would be a great way to save face.
This is brilliant. Tom Reilly (he's the Massachusetts AG) has been hounding MLB, Bud Selig, John Henry, and certainly Harrington all week long. The current line from the Red Sox is that the limited partners were getting more money from the Henry bid due to the way it's structured. (All hail the baseball establishment's mastery of creative accounting.) Further, there's been niggling doubt about the financing of the Prentice bid.
Unfortunately for John Henry, the new Dolan bid has no such problems. Now, strictly speaking, the deadline for submitting bids was over almost a month ago... but the Red Sox have not rejected the Dolan bid just set. This would be a great way to save face.