Economy and Baseball

Will the economic crisis hurt baseball? According to the Boston Red Sox, it won't be bothering them. Most of their players contracts must not be paid through credit lines.

Dee said there are areas where Fenway Sports Group, which also owns a minor league baseball team, and consulting and representation businesses, may look to expand.

"There's undoubtedly going to be hard times ahead over the next couple years across the world of sports and entertainment," he said. "With hard times come opportunities."

While there are no plans to increase the stake in its NASCAR team, Dee said the company is looking to do more in racing, including possible marketing or representation deals.

"We're interested in expanding our footprint in racing," he said, pointing to the company's lack of knowledge in such areas as open-wheel racing, like the IndyCar series.

Dee agreed buying another minor league baseball team makes sense, but team valuations have become "a little crazy" over the past two decades. Representing or even buying top entertainment events also would interest him.

Fenway Sports Group's sports consulting business has been its fastest growing segment, with more than 15 corporate clients, including Major League Baseball's media unit, Dunkin' Donuts, Verizon Communications Inc's (VZ.N: Quote, Profile, Research, Stock Buzz) wireless business and EMC Corp (EMC.N: Quote, Profile, Research, Stock Buzz), said Dee.

To further boost that business, Fenway Sports Group recently opened an office in San Diego with hopes of picking up deals on the West Coast.

Talk about diversification!