New York Yankees Fail to Land Major International Ownership Deal Ahead of MLB World Series 2021

Recently, the Board of Control for Cricket in India (BCCI) announced two new teams will take part in the Indian Premier League. While Indian companies put in their bids, this opportunity also caught the eye of sports organisations outside the subcontinent. Among those foreign organisations featured the New York Yankees, who are the most valuable MLB franchise.

Although the Yankees didn’t win a bid for either team, it showcased the impact the IPL has today.

The New York Yankees showed interest in purchasing an IPL team

At $5.25billion, according to Forbes, the Yankees are the most valuable franchise in the MLB. In fact, they are the second most valuable franchise in the entire world, behind NFL outfit Dallas Cowboys at $5.75billion.

Millions across the world recognise the Yankees despite their limited presence in the United States. From merchandise to some of their star players, the franchise has associations with several fans in many ways.

Oct 3, 2021; Bronx, New York, USA; The New York Yankees mob right fielder Aaron Judge (99) after his game winning RBI single to defeat the Tampa Bay Rays 1-0 and clinch a wildcard playoff spot at Yankee Stadium. Mandatory Credit: Wendell Cruz-USA TODAY Sports

According to sources, an investment arm of the Yankees showed keen interest in purchasing one of two new IPL teams. The new IPL teams will be located in the cities of Ahmedabad in the state of Gujarat, and Lucknow in the state of Uttar Pradesh. They would do so by joining a consortium.

Although the Yankees missed out, a foreign investor will take over an IPL team next year. Luxembourg-based investment firm CVC secured ownership of the Ahmedabad franchise for 5,625 crore INR ($750million approx.). The Lucknow franchise went to Indian-based RPSG Group, who shelled out a staggering 7,090 crore INR ($946million approx.).

It’s no secret that baseball doesn’t have quite the pull in India. However, if the Yankees secured an IPL team out of the two on offer, they could have changed the game in a major way.

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The Yankees’ season ended at the AL Wildcard game this year

Although they reached the MLB playoffs for the fifth season in a row, they failed to beat the Boston Red Sox in the AL Wildcard game.

Oct 5, 2021; Boston, Massachusetts, USA; New York Yankees manager Aaron Boone (17) pulls starting pitcher Gerrit Cole (45) during the third inning against the Boston Red Sox in the American League Wildcard game at Fenway Park. Mandatory Credit: Bob DeChiara-USA TODAY Sports

The 2021 MLB season will end with the World Series, which starts today with the Houston Astros taking on the Atlanta Braves. With the Yankees recently signing their manager Aaron Boone to a three-year contract, one wonders what 2022 holds for them.

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