Written by Joe Lucia at The Comeback
The Steinbrenner family has owned a share of the New York Yankees since 1973 when George Steinbrenner was part of a group that bought the team from CBS for $10 million. In time, Steinbrenner became the majority owner and managing partner of the franchise. In 2008, George Steinbrenner’s sons Hank and Hal became the co-chairmen of the team as the family patriarch began to age, and upon George’s death in 2010, the two became the co-owners of the franchise.
In the five-plus years since George Steinbrenner’s death, the Yankee empire has grown by leaps and bounds, encompassing not only the team, but also Yankee Stadium, a 20% share in the YES Network (thanks to Fox buying up 80% of available shares in recent years), and a 20% share in NYCFC (among other holdings). Could the Steinbrenner family eventually get out of the Yankee business? It seems like a longshot, but Nick Cafardo of the Boston Globerevealed that if the Steinbrenners were willing to sell, 2016 Republican Presidential candidate Donald Trump could be an interested party.
Some bigwigs in the New York business community wonder whether Hal Steinbrenner would entertain a sale of the Yankees. “There would be no shortage of potential buyers,” said one prominent New York multimillionaire. “If Donald Trump doesn’t become president, there’s one major player for the Yankees.”
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