The New York Times just sold some of its stake of the Boston Red Sox.
The deal with Henry McCance for 50 of the media company’s 750 units in New England Sports Ventures (NESV), which owns the Major League Baseball team, reduces the Times’s stake to 16.6 percent from 17.75 percent.
Before we get all sentimental thinking it was a move to be more loyal to the Yankees, my bet is that it was a purely economic move based on the Times financial situation.