The New York Yankees are not up for sale and may never be, principal owner Hal Steinbrenner told ESPN’s Wallace Matthews.
“This is a family business and we’re all involved,” Steinbrenner said. “We all love being a part of this. We all know our dad wanted us to be a part of us, and we all know he’s watching down on us and happy that we’re all a part of it. Believe it or not, to us, that’s a big deal. The idea is, let’s keep it going.”
George Steinbrenner was in poor health when he officially retired in 2007 and passed on control of the Yankees to sons Hank and Hal.
Forbes Magazine recently valued the organization at $3.2 billion, which is much more than the approximate $8.8 million paid by George Steinbrenner to purchase the team in 1973. Only Real Madrid’s estimated $3.26 billion worth is more than that of the 27-time world champions.
Hal Steinbrenner also told ESPN that the next generation of Steinbrenners has already expressed interest in managing the team.
“We got a lot of grandkids, and they’re very interested,” Steinbrenner said. “The idea is, it’s time to let the young elephants in the tent, in George’s words. So it’s begun.”
The Yankees have won seven World Series and made 23 playoff appearances under the Steinbrenner ownership.