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You can own a 1% stake in Yankees for a mere $24 million
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You can own a 1% stake in Yankees for a mere $24 million

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A piece of the storied Yankees franchise could be yours for $24 million.Seth Wenig/AP

A piece of the storied Yankees franchise could be yours for $24 million.

It might be the world’s most expensive sports collectible.

A 1% stake in the New York Yankees is reportedly for sale and for a mere $24 million you can own a piece of one the most storied franchises in sports.

The proposed deal values the team at around $3 billion but factors in a 20% discount since minority owners – especially Yankee minority owners — have limited influence in team affairs.

“There is nothing more limited than being a limited partner of George Steinbrenner,” Yankee minority owner John McMullen, who later went on to own the Houston Astros and the New Jersey Devils, once famously said.

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The sale would require approval of the Yankees’ majority owners and Major League Baseball.

“There are a lot of people with money who would like to say they own a piece of one of the most iconic teams in the world,” says Marc Ganis, a Chicago-based business consultant who has worked with the Yankees in the past.

Ganis says $3 billion is a “fair valuation” and may be low, and probably doesn’t include an interest in the YES Network.

Club 9 Sports Inc., the investment advisory firm reportedly handling the sale, did not immediately return a Daily News request for comment. The sale of the stake in the Yankees was first reported by Bloomberg News.

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The proposed pricetag could be in reach for Yankee great Derek Jeter, who said in 2014 (his final season with the club) that owning a piece of a professional baseball team was his “next goal.”


“I’d probably be a little bit more behind the scenes than The Boss,” Jeter said Sunday, referring to late Yankees owner George Steinbrenner. “But I learned a lot of great things from him.”

There are currently about 20 limited partners who own one percent or one-half-percent of the team. Those shares change hands with some frequency as a matter of estate planning or investment choices. Last year a 1.5-percent stake was bought and sold.

Owners of the shares often use brokers and find buyers before sending a deal to the Yankees for approval.

Steinbrenner led the group that bought the team from CBS in 1973 for a mere $8.7 million. The Steinbrenner family owns more than 65% of the Yankees and Hal Steinbrenner told ESPN this week that the family has no interest in selling.

“The family is keeping the team,” Ganis said. “They have made that clear internally and externally.”

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new york yankees ,
mlb ,
media ,
derek jeter ,
george steinbrenner

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