A group led by a Florida financier, John Henry, has bought the Boston Red Sox for the highest price ever paid for a baseball team.

John Harrington, the Red Sox chief executive, refused to confirm the amount involved.

However, Harrington said in a statement: "The price offered will break all major league records for a team."

The most money paid for a United States baseball team was �220m for the Cleveland Indians in 2000 by an Ohio lawyer, Lawrence Dolan.

Confident

In the days before the Boston deal was announced, reports said the group was offering �450m for the team and its assets.

The agreement must be approved by 75% of the 30 major league owners, who usually take about six months to consider sales.

Harrington is confident Werner and Henry, both close to baseball commissioner Bud Selig, have the money to close the deal.

He said they are "deeply involved and passionate about the game of baseball".