NEW YORK, NY (The Spread) – Even though the Steinbrenner family has denied the rumors, oddsmakers have released prop odds for whether or not the Yankees will be sold.
For the prop, “Will the New York Yankees be sold in 2012?” oddsmakers have installed the odds at 15/1.
In wake of the Dodgers being sold for $2 billion, the New York Daily News released a report late Wednesday night that the Yankees could be up for sale soon. Rumors continued to swirl throughout the day Thursday that the Steinbrenners were looking to sell the most storied organization in Major League Baseball.
But Yankees president Randy Levine adamantly denied the rumors stating, “I can say to you there is absolutely, positively nothing to this. The Steinbrenners are not selling the team.” Major League Baseball has also received no indications from any representatives of the Yankees or anyone else that the club is up for sale.
At this point it seems highly unlikely that the Yankees will be sold. As Richard Sanomir pointed out on Twitter, “Multi-generational trusts set up by George Steinbrenner for heirs virtually preclude sale of Yanks; even if sold, heirs would incur huge tax bite.”
Even at 15/1 odds, it would appear as though this bet is one worth passing on.