Who Are The Minority Owners Of The Yankees?

Patrick Bet David, a serial entrepreneur and founder of Valuetainment joined as a Yankees minority owner in 2023.

Despite the high price, buying a small portion of the team could turn out to be advantageous. They are typically making substantial profits year after year. The Yankee Global Enterprises are prosperous both on and off the field.

In 2023, the value of the Yankees franchise is 7.1 billion dollars. Its minority owners receive a 20% discount and they have less influence and decision-making power than the majority owners. Investors are well-known about owning a minority ownership in the club may be a good investment given the chance for large financial returns. 

The team's minority owners are well-informed about their financial commitment to the Franchise. They also know their limited influence in the club. Minority owners are comfortable with these aspects before buying the shares.

 Some of the famous Yankees minority owners are:

• Patrick Bet David
• Lester Crown
• Marvin Goldklang

Patrick Bet David 

Patrick Bet-David is the first Assyrian-American with minority ownership of the NY Yankees. He owns some Yankee's percentage after rigorous work of paperwork and interviews for 13 months.

His success story is taken as an inspiration. The inclusion of David in the minority ownership is an example of diversification in the MLB ownership. But the franchise and Patrick Bet David himself have not disclosed his percentage ownership in the club.

Lester Crown

Lester Crown is an American business with a 13% of stake in Yankees. In 1973, he joined George Steinbrenner's investment organization as a founding limited partner. During that period, he had a 10% of minority ownership.

Marvin Goldklang

Marvin Goldklang is a minority owner of the NY Yankees. Additionally, he is the main shareholder of the Charleston RiverDogs. It is a Class A South Atlantic League team that is an affiliate of the Yankees.

Goldklang has been a member of the South Atlantic League Hall of Fame since 2004. He was named to the Minor League Baseball board of trustees in 2014. He was inducted into the Florida State League Hall of Fame in 2010 and the New York Penn League Hall of Fame in 2018.

Yankees Owner Hal Steinbrenner is a well-known American Businessman. He is the current Chairman and Managing General Partner of YGE.

On September 2007, Hal Steinbrenner was elected as the chairman of the board of Yankee Global Enterprises. Hal and his siblings inherited control over the YGE after the death of their father George Steinbrenner in 2010.

The enterprise has grown almost 17 times since Hal and his siblings took ownership. The Value of YGE was 1.6 billion dollars in 2010. It enlarges to hefty 17.1 billion dollars within 13 years.

Steinbrenner's wealth is just around one-fourth that of Steve Cohen. Cohen is the owner of the Mets and the current richest man in baseball with a net worth of over $16 billion.

Along with Yankee Global Enterprise, Hal is a minority owner of the Italian Serie A team, AC Milan.

Besides these, Hal Steinbrenner is the chairman and chief executive officer of Steinbrenner Hotel Properties. He is a member of the Tampa Bay Boys and Girls Club's board of directors.

New York Yankees Titles In Hal's Ownership

Though the Yankees owner's net worth has soared in recent years, it has not won any titles since 2010.

After the ownership of Steinbrenner, the Yankees have advanced to the playoff in every season. However, they haven't participated in the World Series since 2009, when they won the Fall Classic. This is their fourth longest time without a World Series championship.

New York Yankees ownership history is dominated by the Steinbrenner family since 1973. However, it has a century-long history.

Its history of more than 120 years can be divided into two-time frames. It is before and after the ownership by the Steinbrenner family. 

Before The Ownership By The Steinbrenner Family

Initially, the team played in Baltimore as the "Baltimore Orioles" during the 1901 and 1902 seasons. Later, the club became bankrupt. William Stephen Devery and Frank J. Farrell acquired them for $18,000. They relocated the club to New York in 1903.

Jacob Ruppert (1915–1939):

Wealthy brewer Jacob Ruppert bought the Yankees in 1915. Under his ownership, the team developed into a major force in baseball. The team won six World Series championships as well as numerous American League pennants.

Del Webb and Dan Topping (1945–1964):

They purchased the Yankees from the Ruppert estate in 1945. The Yankees maintained their dominance under their ownership. It won seven more World Series titles and 10 more American League pennants.

CBS (1964–1973):

The Columbia Broadcasting System (CBS) purchased the Yankees in 1964. The Yankees, however, struggled on the field during this time under CBS ownership. The team didn't have the same degree of success as before the previous ownership did.

The club's value increased from $18000 to 8.8 million dollars in 1973. George Steinbrenner and his partners paid this substantial amount to buy the Yankees in that year. Despite having less than a 50% ownership percentage at first, Steinbrenner eventually acquired 70% of the team.

After The Ownership By The Steinbrenner Family

While purchasing the Yankees from CBS, the Yankees minority owners were:

• Lester Crown
• John DeLorean
• Nelson Bunker Hunt
• Marvin L. Warner
• Robert Nederlander

George Steinbrenner (1973–2010):

George Steinbrenner led a group of investors in buying the Yankees from CBS in 1973. The Yankees won 11 American League pennants and 7 World Series in his ownership.

He was renowned for his erratic behavior and frequent managerial changes. George passed away while the federal estate tax was repealed for one year. It saved his children an estimated $600 million.

Hal Steinbrenner (2010–present):

After George Steinbrenner passed away in 2010, his sons acquired ownership of the Yankees. Hal and Hank Steinbrenner inherited control of the organization as managing general partner and co-chairman.

But after the departure of his brother in 2020, Hal has been carrying on the family's ownership history and has been actively involved in the franchise's daily operations.

The Yankees have been significantly shaped into one of the most recognizable and prosperous sports clubs in history by the Steinbrenner family. George's family is expected to continue being a significant and powerful force inside the organization for many years to come.