Jul 15, 2010, 11:30 AM EDT
There’s a story over at The Daily Beast that tells the often-told tale about how the Dolan family (i.e. owners of Cablevision and the Knicks) want to buy the Yankees. The reason to re-hash it this time, obviously, is George Steinbrenner’s death. From the article:
Now speculation is beginning to mount among sources close to the Dolans
that Steinbrenner’s death will serve as a “catalyst”–to use Wall Street
vernacular for a triggering event–for them to eventually make another
offer to buy the greatest franchise in sports.
Sure, I can see bringing it up again because a big event just happened that could cause people to re-think, change course, or whatever. But there’s really no there there. There’s no new information which suggests any change of heart on the part of Yankees’ ownership with respect to a sale. What’s more, Yankees’ President Randy Levine is shooting the story down this morning:
“The reporter was told that neither the Yankees nor YES, are, will be or
have have been for sale. This is all fantasy. It’s just as likely that
we would buy the Knicks or Rangers.”
Levine can be full of it sometimes, but this makes abundant sense to me. Sure, George Steinbrenner just died, but whatever the titles say, George Steinbrenner hasn’t been running the Yankees for several years now. There’s been a lot of talk about how the Steinbrenner family is getting out of having to pay estate taxes because of the timing of his death, but they didn’t know when he was going to die. As such, if there was ever an intention of selling the team, wouldn’t it have made sense for it to go into a trust or be sold before Steinbrenner’s death to avoid even the potential for a big tax bill?
Thanks to the new stadium revenues are at an all-time high. Hal Steinbrenner has shown himself to be even more adept at running the Yankees than his father was. I’ll eat my hat if he sells the team to the Dolans in the next decade.
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