Could the New York Yankees be for Sale Soon?
The Hall of Fame baseball writer Bill Madden of the New York Daily News is reporting that the New York Yankees could go on sale soon. According to rumors from multiple baseball and finance sources one of the most iconic sports franchises in the world will be available for the right price. This would mean that the Yankees would be without the leadership of the Steinbrenner family which purchased the team in 1973 for a thrifty $8.8 million. The prospect of the epic sale stems from the whopping $2.175 billion that was paid for the Los Angeles Dodgers in April. Financial advisors believe this is the prime time to unload the Yankees and that they could possibly fetch a mind-blowing $3 billion.
The Yankees have denied the rumors, with their president Randy Levine saying, “I can say to you there is absolutely, positively nothing to this. The Steinbrenners are not selling the team.”
Most believe now is the time to sell because the Yankees have peaked since most of their star players are past their primes and the AL East is much improved with all the teams having talented squads. Plus the Steinbrenner family does not have the same passion for the team as their father George Steinbrenner once did. Since George's passing in 2010, his son Hal was made the general partner and he views the team more as an investment than a competitive baseball team. In the last couple of years the Yankees have lowered payroll and have said that they will continue to lower the payroll in the future. So could this really be the end of the Steinbrenner legacy in the Bronx?