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Mitt Romney's son Tagg reportedly trying to buy stake in Yankees
For some people, their dream is to climb Mount Everest, or run a marathon, or travel to an exotic destination. But some people just really, really, really want to buy a baseball team.
Jon Heyman of FanRag Sports is reporting that Mitt Romney’s son Tagg Romney is trying to buy a piece of the New York Yankees. Mitt Romney, who ran for president in 2012, isn’t involved himself, as he emphatically told Heyman.
Mitt Romney, in response to an earlier version of this story about his potential involvement in a sale, denied that he’s involved in the talks in a statement, per a spokesperson. The former governor of Massachusetts, Romney is a lifelong Red Sox fan and is sensitive to being associated with the Yankees after hearing early reaction from Red Sox fans.
Well then.
Tagg Romney and his business partner, Spencer Zwick, are using the family’s company Solamere Capital to advance the sale. Heyman says that they’re interested in buying a one or two percent stake in the Yankees, with each percentage point being worth $25 million to $30 million.
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Though Romney is interested in the Yankees now, it didn’t seem to start that way. In fact, according to Heyman, Romney actually inquired about the Miami Marlins several months ago. Romney and the family company reportedly made a $1.4 billion offer to buy the Marlins from Jeffrey Loria. It’s not known right now what made Romney pivot from the Marlins to the Yankees, but if these talks with the Yankees are happening, Romney’s probably not buying the Marlins anymore.
Tagg Romney actually has a history in baseball. He worked in marketing for the Los Angeles Dodgers, and the family tried to buy the franchise back in 2012. Owning a few percentage points of the Yankees isn’t the same as owning an entire franchise, of course, but the Yankees are valued at $3 billion. It’s not hard to see why an investor would want to put their money into that behemoth.
UPDATE: In response to this story, a Romney spokesperson has released a statement to Yahoo Sports. “No one in the Romney family is investing in the Yankees.”
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