Right Now, You Can Buy 1% of the New York Yankees ... If You Are Super Rich

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Right Now, You Can Buy 1% of the New York Yankees … If You Are Super Rich

Baseball Is Fun

yankees raccoonThe New York Yankees are for sale!

Well, kinda. According to Bloomberg, a minority owner in the iconic franchise is selling a 1% interest in the team. With a total organization valuation of $3 billion, and with a discount for minority shares because of minimal influence, that 1% will cost you a mere $24 million.

Team valuations, especially in the largest markets, have exploded alongside giant television contracts in recent years, so there’s a chance that this investment will be a great move in the long-term. It’s more likely, though, that any buyer would be of the vanity variety, looking to throw around some cash to be a “part-owner of the New York Yankees.”

Which is totally fine. If I was loaded, would I want to buy another yacht – they’re just so tedious, lovey – or a piece of one of the most venerable franchises in all of sports?

The answer is neither. I would spend all my money on lottery tickets, because then I’d win even more money. The rest of you are suckers.

(h/t EyeOnBaseball)


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Author: Brett Taylor

Brett Taylor is the Editor and Lead Cubs Writer at Bleacher Nation, and you can find him on Twitter at @BleacherNation and @Brett_A_Taylor.