How Much Were the Yankees Bought For?

The Yankees were sold for $12.5 million in 1973. The current value of the team is $4.6 billion.

The Yankees are one of the most iconic franchises in all of professional sports. The team has been around for over a century and has won 27 World Series titles. The Yankees are also the most valuable franchise in baseball, worth an estimated $4.6 billion.

The team was not always worth so much though. In fact, the Yankees were

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The Sale

The Yankees were bought for $12.5 billion by a group that includes Philadelphia private-equity firm Carlyle Group and Canadian pension fund OMERS. The record sale of the most famous baseball team in America was completed on Friday, according to a person familiar with the matter. The new owners will take control of the team immediately.

The Bidders

The final purchase price was $2.175 billion, with the Steinbrenner family selling for $1.32 billion and Goldman Sachs and JPMorgan Chase each owning a little more than 13 percent of the team. The new partnership includes Hal Steinbrenner, son of George Steinbrenner, as the controlling partner.

“We are thrilled to have found such a passionate, committed and accomplished group of people to carry on the Yankees tradition,” said Hank Steinbrenner, son of George Steinbrenner and co-chairman of Yankee Global Enterprises, in a statement released by the team. “We want to thank each and every one of our loyal fans for their support.”

“It is an honor and privilege to have been selected as the next stewards of this legendary franchise,” said Hal Steinbrenner in the same statement. “We are committed to continuing the great traditions on and off the field that have made Yankees baseball so special for so many generations.”

The Winner

The Steinbrenner family has owned the New York Yankees since 1973. George Steinbrenner bought the team for $10 million from CBS. The Steinbrenner family just sold the Yankees to a group led by Hal Steinbrenner, son of George, for $5 billion dollars. That’s a 500x return on investment in 47 years.

To put that into perspective, if you had invested $1,000 in the stock market in 1973, it would be worth about $16,000 today. So, the Yankees weren’t just a good investment, they were a 500x better investment than the stock market.

The Price

The Yankees were bought for $12 billion by a group led by Hal Steinbrenner, son of George Steinbrenner. The record price for a professional sports franchise was set in 2002, when the Boston Red Sox were sold for $660 million.

The Factors

What factors go into the price of a Major League Baseball team?

The New York Yankees were sold to a new owner in 2014 for $1.5 billion. This is the highest price ever paid for an MLB team. How did the new owners arrive at this figure?

It’s difficult to say definitively because the sale of a professional sports team is not like the sale of other businesses. There are many factors that can affect the price, including:

-The value of the franchise as a whole. This includes the value of the brand, the stadium, and any other assets owned by the team.
-The value of the television and radio contracts. These can be very lucrative, especially for a high-profile team like the Yankees.
-The value of the players on the roster. This is harder to quantify, but superstar players can add a lot of value to a team.
-The potential for future revenue growth. This includes things like attendance, merchandising, and future TV contracts.
-The size of the market. A team in a large market will usually be worth more than a team in a smaller market.
-The willingness of other potential buyers to pay more than you are willing to pay. In other words, if there are multiple potential buyers bidding against each other, that can drive up the price.

The Record

$5.5 billion. That’s the record price that the late George Steinbrenner and his family paid for the New York Yankees back in 1973. At the time, it was the highest price ever paid for a professional sports franchise. Forty-seven years later, that record still stands.

The Reactions

The Yankees

The New York Yankees are a Major League Baseball team based in The Bronx, New York City. They compete in the American League East division. They are one of two Major League Clubs based in New York City; the other is the National League’s Mets. One of baseball’s most successful franchises, the Yankees have won 18 Division Titles, 40 American League Pennants, 27 World Series Championships, and led Major League Baseball in attendance numerous times. The Yankees’ rivalry with the Boston Red Sox is one of the fiercest rivalries in all of professional sports.

The MLB

The Major League Baseball (MLB) is the highest level of professional baseball in the United States and Canada, composed of 30 teams. The Yankees are one of these teams who play in the American League (AL) East division.

The Fans

The New York Yankees are one of the most storied franchises in all of professional sports, and their fans are some of the most passionate and loyal in the world. So when it was announced that the team had been sold to a new ownership group for a record-breaking $2.5 billion, there were mixed reactions from fans.

Some were ecstatic, feeling that the new owners would bring a fresh perspective and new energy to the team. Others were cautiously optimistic, hopeful that the new owners would respect the team’s history and tradition. And still others were outright angry, feeling that the new owners were only interested in making money and would not be committed to winning.

Whatever their opinion, all Yankees fans will be watching closely to see how the team fares under its new ownership.

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