May 24, 2012, 1:57 PM EST
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!
Nov 25, 2014, 10:12 PM EST
Max Scherzer, a client of Scott Boras, seems comfortable with slow-playing this market. We’ve seen loads of rumors and reports involving the other prominent free agent ace, Jon Lester, but it’s hard to identify which teams are in the running at the moment for Max. The Giants may be one …
Nov 25, 2014, 8:47 PM EST
Via Jeeho Yoo of Seoul’s Yonhap News, right-hander Lucas Harrell and outfielder Jim Adduci both agreed to one-year deals Tuesday in the Korea Baseball Organization — Harrell with the KIA Tigers for $900K and Adduci with the Lotte Giants for $650K.
Nov 25, 2014, 7:51 PM EST
Arizona has been mentioned before as a potential landing spot for Cuban outfielder Yasmany Tomas, but it was never really considered a strong likelihood. Maybe that perception should be changing …
Nov 25, 2014, 6:38 PM EST
The Red Sox have officially introduced Hanley Ramirez and his new four-year, $88 million pact. Juan Francisco was DFA’d in the process.
Nov 25, 2014, 5:40 PM EST
Darvish missed the final six weeks of the season with an elbow injury.
Nov 25, 2014, 5:25 PM EST
Possibly well-intentioned, possibly grandstanding. But it’s hard to see how this is in Congress’ bailiwick.
Nov 25, 2014, 4:46 PM EST
What would happen to Lonnie Chisenhall?
Nov 25, 2014, 3:46 PM EST
Based on what we know at the moment, the Cubs’ offer is the richest one out there.
Nov 25, 2014, 3:15 PM EST
Swarzak was due for a raise to around $1.5 million via arbitration.
Nov 25, 2014, 3:03 PM EST
Technology itself hasn’t changed how reporters do their jobs. Rather reader demand, newly obvious by technology, has done so.
Nov 25, 2014, 1:47 PM EST
Matsuzaka spent the past two seasons with the Mets.
Nov 25, 2014, 1:20 PM EST
Martinez served as Joe Maddon’s right-hand man since 2008.
Nov 25, 2014, 1:00 PM EST
They’ve been linked to Justin Upton and Matt Kemp. But another power bat is a possibility.
Nov 25, 2014, 12:46 PM EST
Lavarnway was once a top-100 prospect.
Nov 25, 2014, 12:15 PM EST
Breslow spent the past three seasons with the Red Sox.
Nov 25, 2014, 11:31 AM EST
Included: Fred and Jeff.
Nov 25, 2014, 11:03 AM EST
At least to the extent you still have them. Because it ain’t happening.
Nov 25, 2014, 10:30 AM EST
The first rule of Hall of Fame Ballot Club: Use all ten slots on your ballot. The second rule of Hall of Fame Ballot Club: USE ALL TEN SLOTS ON YOUR BALLOT.
Nov 25, 2014, 10:15 AM EST
Nelson was the ninth overall pick in the 2004 draft.
Nov 25, 2014, 9:55 AM EST
The Padres are sniffing around too.
- Red Sox announce four-year, $88 million deal with Hanley Ramirez, DFA Juan Francisco 21
- The Cubs have offered Jon Lester “north of $135 million” 51
- Pablo Sandoval’s deal: five years, $98 million plus an option 40
- Kyle Seager, Mariners close to $100 million extension 25
- The 2015 Hall of Fame ballot is out — Randy Johnson, Pedro Martinez are new on the ballot 286
- So what would the Red Sox look like with Hanley Ramirez and Pablo Sandoval? 49
- UPDATE: Red Sox finalizing a 4-year, $88 million deal with Hanley Ramirez, with a vesting option 35
- MLB players react to Odell Beckham, Jr. catch on Sunday Night Football 27
- The 2015 Hall of Fame ballot is out — Randy Johnson, Pedro Martinez are new on the ballot (286)
- More Hall of Fame ballots like Adam Rubin’s please (136)
- UPDATE: The Pablo Sandoval-Red Sox deal is done, pending a physical (133)
- Report: Pablo Sandoval chose the Red Sox over the Giants because he felt disrespected (131)
- Report: “There is a 90 percent chance that Pablo Sandoval will sign with the Red Sox” (130)