BASEBALL — 24 May 2012

According to the New York Daily News, the New York Yankees could soon be the next big franchise to go up for sale.

Rumor has it in Major League Baseball and New York banking circle that the Steinbrenner family is looking at the possibility of selling the franchise.

The report by Daily News has been refuted already by New York Yankees general partner Hal Steinbrenner.

“I just read the Daily News story. It is complete fiction. Me and my family have no intention to sell the Yankees and expect it to be in the family for years to come,” Steinbrenner told CNBC’s Darren Rovell.

New York Yankees president Randy Levine told the Daily News “there is absolutely, positively nothing to this. The Steinbrenners are not selling the team.”

However, a high-level baseball source told the newspaper that rumors of a sale have been persistent “around the banking and financial industries in the city for a couple of weeks now.”

The late George Steinbrenner purchased the New York Yankees in 1793 for $8.8 million. One obvious reason the Steinbrenner family might be looking to sell the franchise is the intrigue of the recent sale of the Los Angeles Dodgers, who sold for $2.175 billion. Many believe the New York Yankees could be worth as much as $3 billion.

 

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