Update (Sept. 15th): More from Pimpsner. Apparently Mandalay doesn’t want anything to do with the Staten Island franchise after the sale if the Yankees are not involved. They will likely look to purchase another team, and their are several on the market. Important thing to remember: SI will remain the Yankees affiliate.
In other news, Mandalay and the Yankees are teaming up to buy the Triple-A Scranton/Wilkes-Barre Yankees for $14.6M. Much of that money is going towards PNC Field renovations, which will force the team to play all their games on the road next year.
Original Post (Sept. 14th): Via Robert Pimpsner, the Staten Island Yankees are being sold to a NYC hedge fund manager for $8.3M. It’s the second time the franchise has been sold in the last five years, but the first time it was the Yankees and Mandalay Sports Entertainment that did the purchasing. Average attendance has been dropping in recent years, and the sale was financially motivated. It’s unclear if Mandalay will remain involved with the team, but the franchise will remain in Staten Island and affiliated with the Yankees. An official announcement is expected soon.