Apparently the new ownership of the Red Sox is attempting to scuttle an existing/delayed plan to build a 'new' Fenway adjacent to the existing structure.
In its place, they are proposing a remodel of the current version, adding a second deck, luxury boxes, and all the accouterments of today's modern parks:
Gammons ESPN article
There is also a site dedicated to the preservation of Fenway:
Save Fenway Park
Their plan is a phased project by the architects involved in the Soldier Field renovation/reconstruction in Chicago. According to the article, they have worked things out so that the Sox will be able to play in Fenway during the entire renovation.
This is fascinating stuff, especially if you're a stadium fanatic like myself. Maybe not as sexy as Eric Crouch in white football pants . . . although . . . come to think of it . . .