BOSTON (CBS) — Two years ago, John Henry and the Red Sox’ ownership group purchased Liverpool FC for $476 million, and they’ve since spent millions upon millions of dollars bringing in big-name players to the struggling soccer team.
Robert Kraft, another successful sports owner in town, spoke this week about what’s keeping him away from a similar purchase, and he said it’s the lack of salary cap.READ MORE: Police Investigating After Woman Says Baby Was Found In Trash Can On Dorchester Avenue
“I would only do it if there was a salary cap,” he told CNN while in England to watch Wimbledon. “It’s the same thing I said three years ago. We could have bought Liverpool before the two ownership groups who preceded us, and in the end I don’t want to compete in a business where people throw money at something. I want to be able to compete.”
It’s not that he doesn’t have the resources; Forbes estimates his worth at $1.7 billion. Kraft said that the fact that every team can operate under different spending rules would interfere with his only goal of purchasing a sports team.READ MORE: Owners Of Truck Company Charged In Connection To Crash That Killed 7 Motorcyclists
“The only way I would go into a sports business is to win,” he said. “And I don’t think I can compete on an equal footing so I choose not to do it. ”
Even winning wouldn’t bring the type of return that most American sports owners expect.
“Manchester City won the championship this year and I hear they’re going to lose $156 million,” Kraft said. “I would rather give that money to charity if I had it.”MORE NEWS: Coolidge Corner Theatre Makes List Of '50 Most Beautiful Cinemas In The World'
Given the added drama that’s surrounded the Red Sox’ ownership group since the purchase of Liverpool in 2010, Patriots fans are likely thankful for Kraft’s decision.