In addition to the luxury tax, "clubs that exceed the threshold by $20 million to $40 million are also subject to a 12 percent surtax. Meanwhile, those who exceed it by more than $40 million are taxed at a 42.5 percent rate the first time and a 45 percent rate if they exceed it by more than $40 million again the following year(s)."
Mr. Ratcliffe, through INEOS, agreed to pay $33 per share for his 25 percent stake, a price that represents a nearly 70 percent premium on the current value of the teamβs shares on the New York
It includes Hal Steinbrenner, whose family has the longest tenure of any ownership group, having purchased the New York Yankees for $8.7 million in 1973 β a return on investment, given the team
Prior to the purchase of the Red Sox, Mr. Henry was chairman and sole owner of the Florida Marlins from 1999 through 2001 and a limited partner of the New York Yankees from 1991 through 2003. Mr. Henry's 34 years of experience in baseball ownership began in 1989 as chairman and majority owner of the Tucson Toros of the Triple-A Pacific Coast
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new york yankees ownership percentage