According to the FOX Business Network, the Boston Red Sox ownership group has considered selling the team and are quietly shopping around for potential suitors.

Red Sox president and CEO Larry Lucchino has told WEEI's "Dennis & Callahan" that the runors are simply not true.

"Nonsense," Lucchino said on WEEI. "As I said, they feel the same kind of competitive juices that the fans feel, that I feel. There's an opportunity here to put the team back on the track it was on for a decade. … There has not been one word, one word of discussion regarding that. We are committed, better or worse."

The Red Sox would be looking for about $1.2 billion for the team, according to the FOX Business Network. Since the Dodgers sold for $2 billion, the Red Sox would look to match and even surpass that total. Forbes has the Red Sox valued at $1 billion. If NESN, the cable home of the Boston Red Sox, is including in the bidding war, the cost could climb as high as $1.6 billion, according to a source familiar with sports deals.

John Henry & Co., Red Sox co-owner John Henry's investment firm, has had a dismal year. The firm specializes in the futures market and its Global Analytics fund has lost 16% this year.

The Red Sox ownership group also owns soccer club Liverpool who have the same problems as the Red Sox in terms of overpaying athletes who have underachieved. Henry wrote a letter to Liverpool fans saying that the group will no longer overspend on the team and stay with what they have.

If Henry's group does indeed sell the Red Sox, Henry would have more time and resources to devote to the once proud English soccer team.

The current ownership led by Henry and Tom Werner has owned the Red Sox since 2001 and have led the Sox to two World Series titles and one AL East crown in 2007.