Yankees Ownership Reportedly Considering Selling Team, Hal Steinbrenner Calls Story ‘Fiction’

Yankees Ownership Reportedly Considering Selling Team, Hal Steinbrenner Calls Story 'Fiction'The Steinbrenner name has been synonymous with the Yankees since George Steinbrenner bought the club for $8.8 million back in 1973. Could that long-running tenure be coming to an end soon?

The New York Daily News reports that it is a possibility. According to the report, Yankees ownership is exploring the possiblity of selling the team. 

"There has been chatter all around the banking and financial industries in the city for a couple of weeks now," a source told the New York Daily News.

Unsurprisingly, Yankees ownership has chimed in on the story, and they're shooting it down. 

"I can say to you there is absolutely, positively nothing to this," Yankees president Randy Levine said. "The Steinbrenners are not selling the team."

"I just read the Daily News story. It is complete fiction," declared managing partner and George's son, Hal Steinbrenner. "Me and my family have no intention to sell the Yankees and expect it to be in the family for years to come."

Other sources indicated to the paper that it would be a great time for the family to sell the Bombers, and it's easy to see why. The Yankee brand is arguably the most powerful in all of sports, and on the heels of the astronomical price paid for the Los Angeles Dodgers — $2.175 billlion — there's obviously a ton of money to be made.

"It would definitely be the right time for the family to sell," another source told the News. "The value of the team couldn't be higher, but at the same time, it's an older team in a division with younger teams getting better at the same time a lot of the Yankees' core veterans are starting to go into decline."

George Steinbrenner passed away in 2010, and control of the club fell to Hal and Hank Steinbrenner.

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