May 24, 2012, 1:57 PM EDT
UPDATE: Apparently the “Yankees could be sold” thing is a rumor so baseless that even MLB has issued a statement on the thing:
“Major League Baseball has received no indications from any representatives of the New York Yankees or anyone else that the Club is for sale.”
So, in addition to the owners calling the news story “fiction,” there being no practical way for the team to be sold due to tax consequences and one of the writers of the article itself all but admitting it’s bull, the league has called it nonsense.
Good work, Daily News! Please remember this the next time one of the people who work for you point at some internet writer and accuse them of ruining journalism.
9:01 AM: I tell ya, if George Steinbrenner were alive he’d be so mad at how the Yankees have been playing he’d get rid of the team! THE ENTIRE TEAM!
Rumors are flying in Major League Baseball and New York banking circles that the family that has owned Major League Baseball’s premiere franchise since Cleveland shipbuilder George Steinbrenner purchased the club for $8.8 million in 1973 is exploring the possibility of selling the Yankees.
Multiple baseball and finance sources told the Daily News they are hearing that the team the Steinbrenner family has led to seven World Series titles could be put on the block in the wake of the record sale price of $2.175 billion the Los Angeles Dodgers went for in April.
While it would seem to make decent financial sense to at least consider the possibility — if the Dodgers are worth a couple of billion the Yankees have to be worth more and, really, how much higher can franchise values go? — team president Randy Levine denied the rumors, saying that “there is absolutely, positively nothing to this.” Hal Steinbrenner called it “complete fiction.”
What’s more, the speculation in the article about it being a good time because the team is aging should probably be ignored. Because really, the value of the Yankees is not something that is going to crater or peak based on a ten-game swing of wins from one year to the rest. If they are ever sold it will be because someone is valuing them as an enduring entertainment and marketing brand, not as a team that, in a given year, may contend in the AL East.
That said, (a) if I was thinking of selling the team I wouldn’t admit it either; and (b) again, how much higher can franchise values climb? If someone wanted to give you, I dunno, three billion for the Yankees, wouldn’t you be an idiot not to take it? That’s the likely source of this stuff — banker speculation and out-of-the-loop figurin’, not any real interest on the Yankees part to sell.
UPDATE: This seems to have less meat to it than a vegan cookout:
Multi-generational trusts set up by GSteinbrenner for heirs virtually preclude sale of Yanks; even if sold, heirs would incur huge tax bite
— Richard Sandomir (@RichSandomir) May 24, 2012
But hey, it’s fun to make stuff up too. Also: Bill Madden of the Daily News is apparently on New York radio this morning being asked about it and people who are listening are saying that he’s all but saying it’s a b.s. story but is stopping just short given that, you know,
his colleagues wrote it. Oh, wait, his name is second on the byline. Great job, Spink Award Winning Writer Bill Madden!
Jul 26, 2014, 4:23 PM EDT
The Rays waited out Juan Carlos Oviedo’s rehab from Tommy John surgery in hopes that he would emerge as a valuable piece in their bullpen this season, but today they designated him for assignment.
Jul 26, 2014, 3:39 PM EDT
Giants catcher Hector Sanchez suffered a concussion when he was hit in the mask by a foul tip on Friday.
Jul 26, 2014, 2:47 PM EDT
Randy Wolf is now with his fifth organization since spring training.
Jul 26, 2014, 2:20 PM EDT
Daisuke Matsuzaka has been surprisingly useful for the Mets this season in a swingman role, but now he’s headed to the 15-day disabled list due to right elbow inflammation.
Jul 26, 2014, 1:31 PM EDT
Astros prospect right-hander Mark Appel had his best start of the season on Thursday and now he’s set to be promoted to Double-A.
Jul 26, 2014, 1:08 PM EDT
Veteran right-hander Jake Peavy is headed back to the National League and will be reunited with Bruce Bochy.
Jul 26, 2014, 12:31 PM EDT
Blue Jays slugger Edwin Encarnacion hasn’t played since July 5 due to a right quadriceps strain and now his absence appears likely to stretch into August.
Jul 26, 2014, 11:40 AM EDT
The Cardinals have added A.J. Pierzynski as a veteran alternative behind the plate with Yadier Molina sidelined due to a thumb injury.
Jul 26, 2014, 10:32 AM EDT
Big news coming out of Cooperstown this morning, as the National Baseball Hall of Fame announced their first changes to the voting process since 1991.
Jul 26, 2014, 10:09 AM EDT
Jon Lester wants to stay in Boston and is open to returning even if the Red Sox trade him in the coming days.
Jul 26, 2014, 9:31 AM EDT
Only Rudy York (1937) and Mark McGwire (1987) got there faster.
Jul 26, 2014, 8:55 AM EDT
A quick recap of a busy Friday around MLB, including another win for the red-hot Rays.
Jul 26, 2014, 12:28 AM EDT
Triples galore for the Dodgers in San Francisco on Friday night.
Jul 25, 2014, 11:55 PM EDT
Ichiro Suzuki went yard for the first time this season, taking Mark Buehrle deep. He had previously homered on August 30 last year against the Orioles.
Jul 25, 2014, 11:25 PM EDT
Jose Bautista isn’t a huge fan of the beards Athletics Derek Norris and Sean Doolittle are sporting.
Jul 25, 2014, 10:55 PM EDT
The Independent League is taking measures to speed up games. Could MLB do the same?
According to Five Thirty Eight, Billy Beane’s A’s have exceeded expectations by nearly $1.38 billion
Jul 25, 2014, 10:15 PM EDT
We knew Billy Beane was good… but that good?
Jul 25, 2014, 9:35 PM EDT
The Cardinals are trying to add yet another catcher in A.J. Pierzynski, which would mean George Kottaras could be on his way out.
Jul 25, 2014, 8:45 PM EDT
The struggling Daisuke Matsuzaka will have his elbow examined, which will let the Mets know how to proceed.
Jul 25, 2014, 7:55 PM EDT
Jimmy Rollins needed 1,100 plate appearances total between 2013-14 in order for his $11 million option for 2015 to become guaranteed. He hit PA #1,100 during tonight’s game against the Diamondbacks.
- Giants acquire Jake Peavy from Red Sox 33
- Maximum stay on Hall of Fame ballot changed from 15 to 10 years 47
- Jon Lester is willing to return to the Red Sox as a free agent even if they trade him 23
- Jose Abreu is third-fastest in MLB history to reach 30 career home runs 7
- Settling the Score: Friday’s results 27
- How’d he do that? Magician Maddux fooled hitters all the way to Hall 23
- And That Happened: Thursday’s scores and highlights 46
- MLBPA files grievance against Astros in regard to draft pick situation 35
- Expert’s Corner: How to troll fans of all 30 teams (200)
- Verducci: baseball should think about an “illegal defense” rule to combat shifts (163)
- Yankees acquire Chase Headley from Padres (108)
- Who is the next Face of Baseball? (97)
- David Ortiz passes Carl Yastrzemski on the all-time home run list — is he a Hall of Famer? (92)