When it comes to leading sports executives in the MLB world, Hal Steinbrenner is at the top. Thinking of the New York Yankees may not instantly bring the billionaire owner’s name to mind, but he is one of the most crucial cogs in the Bronx system. Hal inherited it from his dad, George, but has mostly failed to maintain the glory of the dynasty. Accounting for all his troubles, it’s certainly not because he lacks funding. Rather, he spent billions on it, but all went in vain.
Among the top three payrolls in the league, the Yankees signed a record-breaking nine-year, $360 million deal with Aaron Judge in 2022. This offseason, they are also reportedly targeting the top free agents like Shohei Ohtani and Yoshinobu Yamamoto, who won’t come cheap. How does Hal Steinbrenner exactly afford names with high price tags? What is his net worth?
Hal Steinbrenner is Among the Top MLB Owners
The Yanks have always been considered one of the wealthiest teams in the league. Per Spotrac, the club’s active payroll ranks at $172,750,000, with the captain, Gerrit Cole, and Giancarlo Stanton among the top three players. Of course, a majority of it is thanks to the team’s billionaire owner. A recent Forbes report says that Hal Steinbrenner’s real-time net worth is $1.3 billion. That’s more than most other owners. However, he is not a self-made man.
He inherited the wealth and the team as a successor of the wealthy Steinbrenner family. They not only have the Yankees but also collectively own 20% of MLS’ New York City FC, more than 25% of YES Network, 10% of the Italian soccer club AC Milan, and a stake in Legends Hospitality. Hal’s impressive wealth stems from his intelligent business strategies and success in sports ownership.
Growing up in an affluent family, Hal Steinbrenner’s academic journey took him to Culver Military Academy. Later graduating from Williams College in 1991, he also obtained a Master of Business Administration from the University of Florida in 1994. Though he received everything, including the Yankees’ ownership, from his father George Steinbrenner, he reached the zenith with his efforts.
Even so, he is still far behind his New York counterpart, Steve Cohen.
Is Steve Cohen the Richest MLB Team Owner?
Cohen belongs to a sea of wealth. According to a Forbes report, his real-time net worth is $19.8 billion. He ran a highly successful SAC Capital firm for years. However, the firm was found guilty of insider trading charges and closed, with Cohen having to pay $1.8 billion in penalties. But in the long term, it didn’t seem to affect his business ambitions.
Is Yankees Billionaire Owner Hal Steinbrenner Married?
In 2020, the entrepreneur bought the New York Mets for $2.4 billion. It was the highest sale price for a team in MLB history, and to date, no other major league team can compete with the Mets in wealth.
Though Steinbrenner can’t match Cohen’s wealth at this point, the Mets’ current condition doesn’t seem any better than the Yankees, with too many things left to change if they are to succeed.
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