Sep
15

UPDATE: Staten Island Yanks being sold, SWB Yanks being purchased

By

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.

Categories : Asides, Minors

14 Comments»

  1. nesto says:

    Time to switch majors…

  2. KeithK says:

    Wonder if this has any impact on the (admittedly very slim) possibility that the SWB Yankees might play in SI next season while PCN Park is being rebuilt.

  3. I always want to go to one of these games but always forget. A few of my friends work there so I can get the whole meal plan thing free.

    • mlbnyy35 says:

      I went on one of those plans once last year, it was a lot of fun. Get to see some young players early, before they really become known (Arodys Vizcaino, Zoilo Almonte were a few I saw).

  4. Colin says:

    Hey maybe that 8 million can go to a new LOOGY this offseason

  5. MikeD says:

    Didn’t the Yankees also purchase their Scranton AAA team last year? I wonder if this means there’s a change in strategy within the Yankee organization, or they simply found out running a low A-ball team would never generate enough revenue to make it worthwhile.

  6. Plank says:

    I don’t think this bodes well for showing more minor league games on the TV.

  7. Nuke Ladoosh says:

    That’s about what George paid for the Yanks IIRC.

    • MikeD says:

      More amazing is George only put about $200,000 of his own money in the purchase, give or take about 50K. He turned that investment into a multi-billion dollar enterprise that had him listed as one of Forbes’ richest 400 Americans at the time of his passing.

  8. MikeD says:

    Isn’t that nice that the NY Post has learned that Mandalay and the Yankees are teaming up to buy the Triple-A Scranton/Wilkes-Barre Yankees. The sale was announced last November, so the story is over ten months old.

    In fairness, there appears to have been a legal snag with one of the counties that are part owners in the team who threatning legal action claiming they weren’t consulted on the sale. It’s hard to say since the Post article treats the sale as a new story and adds nothing regarding the lawsuit.

    http://blogs.thetimes-tribune.com/yankees/?p=7475

  9. jsbrendog says:

    i am so confused here. mandalay is selling staten island…but wants nothing to do with them if the yankees arent involved? after they sell? and mandalay and the yankees are buying swb? so, the yankees will own them and they are forever yankee affiliates? whats going on?

    • radnom says:

      I was confused at first too. I’m guessing you were late to the party too? Its the reverse chronological order thats weird. In the first part, Mike said that the Yankees were selling the staten island, but didn’t know if mandalay was bailing as well. In the update, he said mandalay bailed along with the Yankees, and the two teamed up to buy SWB.

      So
      SWB = Yankee owned and affiliated
      Saten Island = Hedge fund dude owned, Yankee affiliated

      • MikeD says:

        The Yankees agreed to buy Scranton last November. Was Mandalay part of that then, or were they just added.

        Minor point, but the reporting on this (not by RAB, but by the news media) has been quite poor.

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