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Red Sox Finances Could Stay Secret Even With Stake Sale to SPAC

Nov. 12, 2020, 12:00 PM

The finances of professional sports teams are among the most closely guarded secrets in the business world. That will probably continue even as franchises sell stakes to publicly traded funds.

Normally, investors in such sales would get a peek into financial details. But a quirk in accounting rules could allow teams such as the Boston Red Sox to keep their ledgers away from widespread scrutiny.

Billy Beane
Photographer: Daniel Shirey/MLB/Getty Images

U.S. professional sports leagues have been miserly about revealing profit and loss. As recently as July, Major League Baseball and its players’ union were locked in a dispute over allocation of proceeds from a ...

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