While addressing the media last week in Charlotte, NASCAR team owner Jack Roush spoke as if the pending sale of a portion of his racing organization to Boston Red Sox owner John Henry, and Henry’s Fenway Sports Group, was effectively complete. It isn’t. In fact, it could be a while. It’s one of the most elaborate transactions Roush Racing president Geoff Smith has ever seen.

“The deal is not done,” Smith told ESPN.com Tuesday. “It’s a really complex transaction with more separate contracts than anything I’ve ever seen.” More than 50, in fact, Smith said. “There are lawyers engaged around the clock, basically, trying to work through all the details of all these documents,” Smith said. “So that’s why nobody wants to talk exactly, because the deal’s not done.”

Both parties remain committed, though, Smith said. “We both want it to be done and want to be in business together, and are hoping we can agree on everything necessary to close in a short period of time,” Smith said. He doesn’t have a timetable. “We’ve been saying that for two full months, maybe three full months now,” he said. “That’s how long it’s been going on.” Smith is uncertain how many individuals are working on the project of the Fenway Sports Group side, but said no less than seven Roush Racing employees, including a pair of lead lawyers and three senior financial executives, are working on Roush’s behalf full time. Then there are multiple folks weighing in on a part-time basis, such as Smith. Smith also said the speculated dollar figure involved in the sale — $50 million — is inaccurate. And he isn’t giving any hints as to what it is, either.

“No, they are not accurate,” Smith said. “I never comment one way or another about any numbers, any money, but I’ve read a couple different numbers and I’m like, ‘Well, that’s people hypothesizing.’ “There are people making assumptions about what our revenue is and what our profitability is, and they’re trying to figure out what [team owner] Richard Childress sold his interest [to a group of investors] for, or what someone else is looking for, then coming up with a number.” Asked for comment on the status of the deal Monday, Fenway Sports Group chose instead to respond via e-mail statement from FSG president Mike Dee: “As we have previously stated, Fenway Sports Group is in discussions with Roush Racing. While we continue to explore this opportunity, there is nothing new to report at this time.”

ESPN.com

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