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.
Jim Salisbury of CSN Philly reports that the Phillies are close to signing free agent reliever Joaquin Benoit. An announcement is expected before the winter meetings end on Thursday.
Benoit, 39, has quietly been among the better relievers in baseball over the past seven years. This past season with the Mariners and Blue Jays, the right-hander put up an aggregate 2.81 ERA with a 52/24 K/BB ratio in 48 innings. That included a 0.38 ERA in 23 2/3 innings after the Jays acquired him from the Mariners.
Benoit suffered a torn calf muscle during a benches-clearing brawl with the Yankees near the end of the regular season. He’s expected to be healthy for spring training.
The Phillies have now added three relievers this offseason with Benoit, Pat Neshek, and David Rollins.
ESPN’s Pedro Gomez provides a previously unreported detail of the new collective bargaining agreement, agreed to by the owners and the players’ union last week. Players’ meal money for road games is being reduced from $105 to $30 per day. Teams are providing pre- and post-game meals in the visitors’ clubhouse to offset some of the decrease in meal money.
Gomez quotes an unnamed player who said, “I doubt many guys know about the money going down, nor would they have agreed to it.” All of the players Gomez contacted said they were unaware of and unhappy about the change.
Clubhouse attendants are certainly unhappy about this change, too. As Gomez notes, the attendants previously provided food for visiting teams which earned them tips from the players.
EDIT: It’s worth clarifying that chefs are required in clubhouses now as part of the new CBA, so it’s not a complete loss for the players.