A-Rod in talks to buy share of Yankees
A-Rod in talks to buy share of Yankees
With the Yankees' season about to begin, A-Rod is once again stealing headlines.
It has been reported that he, along with Jennifer Lopez, are in talks to buy a share of the New York Yankees. Apparently, the two sides are close enough that they were originally planning on making the announcement on Monday. But the talks hit a little snag which led to the confusion around Aaron Boone and Brian Cashman's press conferences on Monday.
Why the Yankees and Why Now?
While the couple was heavily linked to the Mets, the Yankees always made more sense. A-Rod was a star for the team winning the team's most recent MVP award while J-Lo was born and raised in the Bronx. However, until very recently, it looked like the Steinbrenner family would never sell the team. Things started to change last season when the world was hit by the Covid-19 pandemic and the Yankees took a significant financial hit.
While the Yankees always had a high payroll, they could usually offset these costs with merchandise, tickets, and chicken buckets. But without fans in the stadiums, the monetary losses started to pile. Furthermore, the continued popularity of the Dodgers and the rapidly rising popularity of the Mets and Rays have made wearing a Yankees hat less appealing.
While the Yankees have suffered tremendous financial losses, Sportico still lists the team as the most valuable in baseball.
https://twitter.com/Sportico/status/1375386127360724996
Apparently, these numbers do NOT take into account the majority of the losses from the pandemic. However, this number was apparently higher than the Steinbrenner family had expected. As a result, Hal is looking to offset those losses by bringing in the power duo. Furthermore, the move will help bring a sense of excitement back to the Bronx. The Yankees had recently slipped behind the Mets in-terms of celebrity popularity in the city and this move will certainly help the team attract premier free agents.
Hal is quoted as saying, "A-Rod was the ultimate Yankee and the face of the franchise. This move will bring home a Yankee legend and help connect with a younger generation of fans."
A-Rod and J-Lo the Owners
While no firm numbers have been reported yet, it appears the couple will purchase approximately 10% of the team, with both individually owning 5%. The duo had a bit of a "falling out" in their relationship but they remain committed to each other and to the Yankees. Originally, it is believed they were only looking for a 5% stake, but A-Rod wants to make sure he has more ownership of the Yankees than former teammate Derek Jeter has of the Marlins.
Meanwhile, the Yankees are apparently pretty excited about bringing in Lopez to help give the Yankees a new look. With the Mets going back to their black uniforms, a uniform shakeup could be in the mix. Lopez has mentioned that the "pinstripes are a classic look but a tad dated." And, "It's hard to tell the players apart without seeing their names."
Looking Forward
With the Yankees season beginning today, it seems like the Yankees and Mets will be battling for headlines this year. While the Mets are extending Lindor, the Yankees just might be bringing back a star of their own.
