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 30, 2015, 10:55 PM EDT
The Diamondbacks are trying to make a play for All-Star closer Aroldis Chapman.
Jul 30, 2015, 10:20 PM EDT
It was made possible due to a misplay by Jacoby Ellsbury in center field.
Jul 30, 2015, 9:33 PM EDT
The Brewers traded center fielder Carlos Gomez to the Astros earlier tonight along with right-hander Mike Fiers and they could be close to another deal.
Jul 30, 2015, 9:08 PM EDT
As the Mets try to pick up the pieces after their deal for Carlos Gomez fell apart, they reportedly have an interesting proposal to consider from the Reds.
Jul 30, 2015, 8:40 PM EDT
Morse is owed $8 million next season, but the Dodgers covered it in order to complete Thursday’s 13-player trade with the Marlins and Braves.
Jul 30, 2015, 7:33 PM EDT
Carlos Gomez was nearly dealt to the Mets last night before the deal fell apart, but it didn’t take long for the Brewers to find a new suitor.
Jul 30, 2015, 7:10 PM EDT
It wasn’t too long ago that we were talking about the White Sox as sellers, but now they are trying to buy a big bat.
Jul 30, 2015, 6:32 PM EDT
Angels slugger Mike Trout is back in tonight’s lineup against the Astros after missing two games with left wrist inflammation.
Jul 30, 2015, 6:09 PM EDT
After dealing ace David Price to the Blue Jays earlier today, the Tigers have traded closer Joakim Soria to the Pirates.
Jul 30, 2015, 5:05 PM EDT
Of course, experience is education too, and based on that I’m quite sure that even the most intelligent Marlins fan would be justified in being confused and thinking the organization has no clue whatsoever.
Jul 30, 2015, 4:44 PM EDT
No. 2 overall pick in the 2009 draft behind Stephen Strasburg.
Jul 30, 2015, 4:20 PM EDT
Carlos Correa has shortstop covered for a while.
Jul 30, 2015, 4:07 PM EDT
Defeat from the jaws of victory and then they got all wet.
Jul 30, 2015, 3:50 PM EDT
Nava hit .303 in 134 games for the Red Sox in 2013, playing a key role in the team’s World Series title.
Jul 30, 2015, 3:46 PM EDT
It’s like we’re in Philly all over again.
Jul 30, 2015, 3:25 PM EDT
We’re recapping all of the deals as they come down.
Jul 30, 2015, 3:00 PM EDT
He’s signed through 2019.
Jul 30, 2015, 2:17 PM EDT
This is a big trade. At least in mass.
Jul 30, 2015, 1:40 PM EDT
Jul 30, 2015, 1:13 PM EDT
Who else needs a veteran closer?
- Astros acquire Carlos Gomez and Mike Fiers from Brewers 38
- Pirates bolster bullpen, pick up Joakim Soria from Tigers 10
- 2015 MLB Trade Deadline Tracker 4
- The extraordinarily odd, 13-player Dodgers-Marlins-Braves trade is done 61
- Blue Jays acquire David Price from the Tigers 111
- Both the Phillies and the Rangers did well in the Cole Hamels trade 72
- Rangers land ace left-hander Cole Hamels from Phillies 106
- Mets, Brewers call off reported Carlos Gomez trade 78
- The MLBPA is considering withholding cooperation with ESPN, Fox over Colin Cowherd’s comments (157)
- The Cubs are in discussions with the Phillies on Cole Hamels (146)
- Major League Baseball rips Colin Cowherd in an official statement (123)
- Blue Jays acquire David Price from the Tigers (111)
- Rangers land ace left-hander Cole Hamels from Phillies (106)