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 24, 2014, 6:38 AM EST
It could happen. It could happen as early as today, folks.
Nov 23, 2014, 11:41 PM EST
The Red Sox and Hanley Ramirez will finalize a deal on Monday in the range of five years and $90 million, according to Ken Rosenthal.
Nov 23, 2014, 11:10 PM EST
The Astros, in the market for a top-end closer, have spoken to the agent of David Robertson.
Nov 23, 2014, 10:20 PM EST
Giants receiver Odell Beckham, Jr. made a ridiculous catch on Sunday Night Football. MLB players reacted to it on Twitter.
Nov 23, 2014, 9:35 PM EST
The Braves have been shopping Justin Upton and the Rangers are interested.
Nov 23, 2014, 8:25 PM EST
Uncle Sam will be coming for Giancarlo Stanton.
Nov 23, 2014, 7:15 PM EST
The Marlins have discussed swapping Nathan Eovaldi for Wade Miley.
Nov 23, 2014, 6:05 PM EST
The Red Sox could revamp the left side of their infield if they have their way in free agency.
Nov 23, 2014, 4:45 PM EST
Davis was designated for assignment by the Bucs a couple of days ago to open up a 40-man roster spot for top pitching prospect Jameson Taillon. Now the first baseman is headed to Oakland.
Nov 23, 2014, 2:15 PM EST
The Red Sox and Cubs have long been considered the favorites to sign free agent Jon Lester, with the Braves and Cardinals also lingering. But there may be a surprise coming.
Nov 23, 2014, 12:03 PM EST
Paul Hoynes of the Cleveland Plain Dealer reports that the Indians have acquired right-hander Charles Brewer from the Diamondbacks in exchange for cash.
Nov 23, 2014, 10:51 AM EST
Torii Hunter could be headed back to where it all began.
Nov 23, 2014, 9:44 AM EST
Watch as former MLB commissioner Bud Selig introduces new commissioner Rob Manfred …
Nov 22, 2014, 10:35 PM EST
The Dodgers added some pitching depth, picking up Mike Bolsinger from the Diamondbacks on Saturday.
Nov 22, 2014, 9:30 PM EST
Wily Mo Pena could be back in the major leagues if the Twins are willing to play ball.
Nov 22, 2014, 8:25 PM EST
Are they looking to hire a caddie?
Nov 22, 2014, 7:20 PM EST
The Rockies added a bit of pitching depth, signing John Lannan to a minor league deal.
Nov 22, 2014, 6:15 PM EST
The Giants have a Plan B if they can’t bring back Pablo Sandoval.
Nov 22, 2014, 5:25 PM EST
And the Giants are still in the mix, too.
Nov 22, 2014, 1:13 PM EST
Satin spent parts of the past four seasons in the majors with the Mets.
- So what would the Red Sox look like with Hanley Ramirez and Pablo Sandoval? 2
- Report: Red Sox finalizing a 5-year, $90 million deal with Hanley Ramirez 22
- MLB players react to Odell Beckham, Jr. catch on Sunday Night Football 22
- Report: Red Sox make $95 million offer to Pablo Sandoval 77
- White Sox sign Adam LaRoche to two-year, $25 million deal 35
- Report: Red Sox offer Jon Lester six years, $110-120 million 72
- Report: “There is a 90 percent chance that Pablo Sandoval will sign with the Red Sox” 130
- A’s sign Billy Butler to three-year, $30 million contract 84
- Braves and Cardinals swap Jason Heyward and Shelby Miller in blockbuster deal (157)
- Giancarlo Stanton’s contract is backloaded. REALLY backloaded. (148)
- Blue Jays sign Russell Martin to five-year, $82 million deal (135)
- Report: “There is a 90 percent chance that Pablo Sandoval will sign with the Red Sox” (130)
- Sexual assualt charges reinstated against Tigers pitcher Evan Reed (129)