NEW: It's now more lucrative to have a losing sports team than a championship team.

We examined the Boston Red Sox to see how private equity and cost cutting invaded sports.

In this era, teams want to sell good players for profit more than they want to have a good season. pic.twitter.com/6FE6INiHV7

— More Perfect Union (@MorePerfectUS) March 25, 2026

This is mostly about FSG and how they run the Boston Red Sox (and by extension, Liverpool Football Club). But I think it paints an interesting picture on how your favorite team, regardless of sport, is being run or will soon be run.

A good exposition of how players are now treated as financial assets and how everything is now more about increasing and maximizing value while maintaining financial flexibility rather than winning a championship

I was banging this drum on the Rangers thread this winter. The ownership situations have changed from random old dudes that love baseball and want to win to these "investment groups" where like 100s of folks have slices of the pie and the main thing everyone is interested in is getting a return on their investment and increasing the hypothetical franchise value so you can cash out. There is still usually a controlling owner, but no guarantee that person has the cash on hand to run a team like how Steinbrenner did back in the day.