Minority owner selling stake in Red Sox

Eskandarian is one of a group of three Boston businessmen who together invested $25 million in the 2002 purchase of the Red Sox, led by John Henry and Tom Werner. Their stake at the time represented about 3.6 percent of the $700 million deal. Eskandarian, chairman of Arnold Worldwide, a Boston advertising agency, invested about $6 million.

Klarman and Eskandarian both declined to comment. The Red Sox also declined to comment.

However, by yesterday Eskandarian's name had been removed from the list of owners posted on the team website. Klarman, who runs Baupost Group in Boston, is not listed as an owner. Major League Baseball must approve any change in team ownership.

The New York Times Co., which owns The Boston Globe, is trying to sell its 17.5 percent stake in the Red Sox. According to published reports, the Times Co. believes its stake is worth $200 million, which would value the team at $1.1 billion.

One of Eskandarian's co-investors, TJX Cos. chairman Ben Cammarata, sold his stake in the team in 2007. The third investor, former textile executive Martin Trust, remains an owner.

It could not be learned yesterday what price Eskandarian is getting for his share. Cammarata, reached by telephone yesterday, said he did not know what a Red Sox stake would fetch today. He would not say how much he sold his $12.5 million stake for: "It was a wonderful time and a very good investment."

The Red Sox franchise has risen in value, to $833 million, according to rankings created by Forbes magazine each year. The Red Sox are the third most valuable team in baseball, behind the New York Yankees and the New York Mets.

When David D'Alessandro, the former chief executive of John Hancock Financial Services Inc., sold his $5 million stake in the team in 2007, he reaped just over double his original investment, $10.3 million, the Globe reported.