Is the most-storied franchise in baseball history for sale? The New York Times Dealbook speculates that with YES, the Yankee's television network currently up for sale, that the team itself might not be too far behind. Much of the speculation is based on a recent article in Fortune magazine. There are rumors that owner/lunatic George Steinbrenner's health is deteriorating, and he has been less openly crazy than in the past. (Full disclosure: I am a die-hard Red Sox fan, and one of the highlights of my life was watching Jason Varitek stuff his mitt in A-Rod's face.)
According to Fortune:
The topic of a sale "comes up all the time" in conversations with the other partners, says Yanks minority owner Edward Rosenthal, a retired steel executive. Adds another Yankees limited partner: "If I were handicapping it, I think we're looking at a sale of the team within three or four years."
The Yankees are estimated to be worth around $1.5 billion, but with hedge fund/private equity managers lining up to cash out their stakes with IPOs, it seems like it could go for even more -- perhaps a lot more.
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