John W. Henry & Co. - A large investment firm responsible for much of the Liverpool owner's fortune, is to cease a major part of its operations, writes the Wall Street Journal.
The firm sent e-mails to clients detailing it would no longer be managing their money as of December 31 2012.
However it did state on its website, "JWH will continue to engage in proprietary trading and research."
The Florida based investment firm was founded in 1982, and has seen its value plummet from $2.5 billion to £100 million over the past six years.
The firm is Henry's principle source of income, and the Journal reports the firm became too small to sustain itself after previous streamlining, and can no longer continue managing client money.
Henry said in a statement reported by CBS: “We have been returning assets to investors with a desire to exit the client business by year end.”
It is as yet too early to say what, if any, effect it will have on his ownership and investment in Liverpool Football Club, and the Boston Red Sox, but it will naturally be of concern to supporters.
What do you think of the reports?
images: © kong niffe, © kong niffe
Dan Coombs
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Dan Coombs is a writer who is keen to embrace the internet revolution. He first started writing for us in June 2011 and commenced his new role as Sports Editor in February 2012.
As a trained journalist he has met famous faces from Mr T to Boris Johnson. He once featured in an England World Cup music video too, but it did not make the charts.
He grew up wanting to be a Formula 1 driver, but it looks like this dream has passed him by. Instead, he hopes you enjoy reading his writing on our site, as we seek to debate the day's sporting hot topics.
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