Speculation continues on talks between Cablevision
Chair Charles Dolan and Yankees Owner George Steinbrenner
regarding a possible sale of the team. Steinbrenner
spokesperson Howard Rubenstein dismissed reports of
Stenbrenner taking a management position with the NHL
Rangers and Knicks in exchange for controlling interest in
the Yankees. Rubenstein said Steinbrenner "has no desire to
run" either the NBA or NHL teams (Peter Grant, N.Y. DAILY
NEWS, 9/19). In Boston, Will McDonough wrote that "within
the past two weeks," Steinbrenner met with his partners and
asked them whether they would prefer to sell all of the
team, part of the team or not sell at all: "Reportedly, the
consensus was that Steinbrenner should agree to sell all of
the club if he feels he is getting what it's worth" (BOSTON
GLOBE, 9/19). USA TODAY's Larry King "expects" Cablevision
to merge with the Yankees in a deal "similar to the Time
Warner merger" (USA TODAY, 9/21). ESPN's Roy Firestone
interviews Steinbrenner on "Up Close Primetime," which airs
Wednesday night. Steinbrenner, when asked if Charles Dolan
had made an offer for the Yankees: "I never had an offer of
$500 million." Firestone later asks, "So you're not leaving
the Yankees anytime soon?" Steinbrenner: "No" (ESPN, 9/21).
INSIDE THE FINANCES: BUSINESS WEEK's Anthony Bianco
reports that Steinbrenner "has reached a critical juncture
in his ownership" of the Yankees and examines the team under
the header, "The Money Machine." The team's P&L figures
between '78-'90 showed that the club was "a little better
than a breakeven enterprise," and according to one source,
the team has averaged "just a few million dollars a year" in
net profit during the '90s (BUSINESS WEEK, 9/28 issue).
