New York Yankees minority owner to sell 1% stake for $24M

BLOOMBERG: Club 9 Sports will handle the sale.

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Limited partners in professional sports teams may sell all or some of their shares for a variety of reasons, including estate planning. It isn’t known which Yankees’ shareholder is offering the stake. The controlling interest in the Yankees is owned by the Steinbrenner family, which has said it isn’t interested in selling the club.

Any agreement would have to be approved by Major League Baseball and by the Yankees, who have not reviewed any proposals yet, according to a person familiar with the matter.

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