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: Indiana Civil & Business LawyerBusiness Succssion Planning: An Example from Baseball
"For the Yankees, the ongoing succession is a lot more complicated than it was for either the Mets or the Knicks. The team is now in the hands of not one but two designated heirs, and one of the Steinbrenner sisters, Jennifer, will have a voice in the team?s operations, too, as will Felix Lopez, the second husband of the other sister, Jessica. ?Like almost any family business with a patriarch and children, the long-term future of the Yankees will depend on the need to avoid sibling rivalries and other types of problems,? one of the team?s limited partners told me. ?The question is going to be how they function as a family.?"***
Full post as published by Indiana Civil & Business Lawyer on March 26, 2008 (boomark / email).
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