For $423.5M, Yanks Could Own Freddie, NY Times

In this offseason alone, the Yankees have spent $432.5 million on three free agents: pitchers CC Sabathia and A.J. Burnett and first baseman Mark Teixeira. To get Sabathia and Burnett, New York bid above market prices. For Teixeira they shot appropriately high. yet all those moves pale in comparison to what the Yankees could have bought with the same money in the downtrodden stock market: Freddie Mac, a controlling ownership of Churchill Downs, half of the New York Times or one-third of Foot Locker.

hank steinbrenner, george steinbrenner

That’s right, Steinbrenner, Steinbrenner and Steinbrenner, Inc., clearly could have spent their money a bit more wisely, according to CNBC Sports Business guru Darren Rovell. Two years ago Freddie Mac was booming, and there’s no reason the organization couldn’t return to their previous glory of share-price highs. Just think: The Yankees could own one of the largest mortgage brokerages in history. They could call it Yankee Homes and go buy up one-third of New England delinquincies, forcing Red Sox fans to sign on to “Yankee Home” deeds. The possibilities are endless.

Instead, New York has two pitchers and a slugging first baseman. For five years (assuming Sabathia doesn’t opt out). Seems like a misallocation of resources, if you ask us.

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CC Sabathia Takes The Money, Is Now A Yankee

Baseball’s Winter Meetings had been pretty boring before Francisco Rodriguez signed a three-year deal with the New York Mets on Tuesday, and K-Rod agreed to a deal that was well short of the five-year contract he and his agent had been looking for. Apparently seeing that Rodriguez, who set the MLB saves record last season with 62, couldn’t even get money and years he was looking for set off some alarms in CC Sabathia’s head.

CC may have wanted to be a Dodger, and he may have been hoping that some west coast team would come swooping in and offer him a deal comparable to the $140 million the Yankees had been offering, but it was becoming more apparent with each hour that it just wasn’t going to happen. Which is probably why, in the end, Sabathia finally realized he’d be the world’s biggest moron to turn down that kind of money right now.

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