Mitt Romney's Family Attempting To Buy Small Stake In Yankees
NEW YORK (CBSNewYork) -- The family of former Republican presidential nominee Mitt Romney is bidding to buy a small stake in the New York Yankees.
According to Jon Heyman of WFAN and FanRag Sports, the Romneys are interested in purchasing a $25 million to $60 million share of the storied baseball franchise, which is valued at around $3 billion.
romneys are looking at 1-2 points. even 1 pt of yanks is expected to go for 25M-30M (george point whole team for 1/3rd that)
— Jon Heyman (@JonHeyman) February 23, 2017
An earlier report by Heyman said Romney himself, a longtime Red Sox fan, was involved in the talks, but the former Massachusetts governor's spokesperson issued a statement saying that is not the case. Romney's son Tagg and his business partner Spencer Zwick are leading the efforts, Heyman reported.
The Romneys had reportedly offered $1.4 billion several months ago to buy the Miami Marlins, but that offer appears to be off the table now, Heyman reported. The Romney family had also shown interest in purchasing the Dodgers at one point.
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Tagg Romney founded and sold a software company and later become a partner at the private equity firm Solamere Capital. He also worked on his father's presidential campaigns in 2008 and 2012.
Financial disclosures in 2007 revealed that Romney's wife, Ann, had invested in the Yankees' YES Network but had sold her share by 2012, according to reports.