Who Are the Minority Owners of the Yankees

In a major announcement, the New York Yankees, the most iconic franchise in American professional sports, have added a new minority owner to their esteemed roster. None other than Patrick Bet-David, a renowned serial entrepreneur and the Founder and CEO of Valuetainment, has officially become a minority owner of the Yankees. This development highlights the ongoing efforts to diversify ownership within Major League Baseball (MLB).

1. Lack of Diversity in MLB Ownership
2. Steinbrenner Family's Ownership of the Yankees
3. Inclusion As a Minority Owner
4. Advice for Prospective Minority Owners
5. Conclusion

Lack of Diversity in MLB Ownership

1. The MLB currently lacks diversity in ownership, with few Black- or Brown-owned franchises. The only exception is Arte Moreno, the owner of the L.A. Angels, who recently expressed his intention to sell the team.
2. Out of the 30 general managers in the league, only two are Black: Dusty Baker of the Houston Astros and Dave Roberts of the L.A. Dodgers. This demonstrates a lack of representation and opportunities for minority executives in MLB.

Steinbrenner Family's Ownership of the Yankees

1. Initially, George Steinbrenner, the late patriarch of the Steinbrenner family, owned less than half of the Yankees. However, over time, he bought out many of his partners, ultimately securing a 70% ownership stake in the team.
2. The Yankees are currently owned by Yankee Global Enterprises, an LLC controlled by the Steinbrenner family. This ownership structure has been in place since George Steinbrenner purchased the team in 1973.
3. Brian Cashman serves as the team's general manager, responsible for overseeing player transactions and roster management. Aaron Boone holds the position of field manager, responsible for in-game strategy and player development.

Inclusion As a Minority Owner

1. To become a minority owner of the Yankees, individuals are required to invest a substantial amount of money. The price tag for this ownership stake is a significant $24 million.
2. The sale of the team is facilitated by Club 9, which values the Yankees at $3 billion. However, minority owners receive a 20 percent discount, as their influence and decision-making powers are relatively limited compared to majority owners.

Advice for Prospective Minority Owners

1. Evaluate your financial capacity: Owning a minority stake in a professional sports team requires a significant financial commitment. Therefore, it is essential to assess whether you possess the necessary financial resources to undertake such an investment.
2. Consider the limited influence: Understand that as a minority owner, your decision-making power and influence over team operations may be restricted. Ensure that you are comfortable with this aspect before pursuing ownership.

Conclusion

The addition of Patrick Bet-David as a minority owner of the New York Yankees marks a notable step towards diversification in MLB ownership. While the league still lacks Black- or Brown-owned franchises, this development highlights the importance of increasing representation and opportunities for minorities within professional sports. As the league continues to evolve, it is crucial for potential minority owners to carefully consider the financial commitment and limited influence that come with owning a minority stake. With continued efforts, we hope to see enhanced diversity and inclusivity in MLB ownership in the future.