Steinbrenner: business savvy even in death

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Say what you want about George Steinbrenner, but he was a hell of a businessman. From turning a tiny initial investment in the Yankees into a billion-dollar franchise, to starting his own regional sports network, rarely did the man make a business mistake.  The pattern continued even until his death:

By dying in 2010, the billionaire and long-time
New York Yankees owner’s wealth avoids the federal estate tax, likely
saving his heirs enough money to field an entire team of Alex
Rodriguezes.

Steinbrenner’s
death Tuesday came during an unplanned year-long gap in the estate tax,
the first since it was enacted in 1916. Political wrangling has
stalemated efforts in Congress to replace the tax that expired in 2009.

Because no one really knows his estate plan or the extent of his holdings, it’s hard to tell how much money he saved by going in 2010, but the back-of-the-envelope calculations in the linked article figure that, at a minumum, Big Stein’s heirs have saved $300 million+ by him passing in 2010 instead of 2009 or 2011.

Suggestion: whatever big free agent the Yankees sign this winter be given the nickname “tax break” or “death tax” or something like that.

Yankees get into esports, announce investment partnership with Vision Esports

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The Yankees have announced an investment partnership with Vision Esports. Vision Esports is the largest single shareholder of three esports-related companies, which includes Echo Fox, Twin Galaxies, and Vision Entertainment. The size of the investment was not disclosed.

Echo Fox was founded by former NBA player Rick Fox. The team has players from some of the most popular titles, including League of Legends, Call of Duty, Street Fighter, and Super Smash Bros.

Twin Galaxies tracks retro video game world records. Vision Entertainment creates esports content across various platforms.

This is not the first intersection of baseball and esports. Earlier this year, pitcher Trevor May joined esports team Luminosity. Other teams, particularly in the NBA, have gotten involved in esports. Last year, the Philadelphia 76ers acquired esports teams Dignitas and Apex.