As we reported two weeks ago, the New York Yankees sold the Staten Island Yankees (short season A; NY-Penn League) to a group of four investors led by a New York City hedge-fund manager in a deal that closed last Friday.
Though the sales price was not disclosed, baseball insiders pegged it at $8.3 million. Joe Ricciutti will remain as team president — which means the franchise is in good hands, as he oversaw the financial renaissance of the economically troubled team and garnered a 2008 Ballpark Digest award for his troubles — and we’re told the new owners plan on honoring the team’s lease at Richmond County Bank Ballpark at St. George, which runs through 2021.
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