$425 Million Spent By The Yanks: What Would You Do?
Total Pro Sports – If you had $425 Million what would you do with it? We know how the New York Yankees would spend the money. They would pay players a lot of money and hopefully buy a World Series Championship.
This year the New York Yankees have signed 3 of the top free agents available on the market, CC Sabathia (7 years $161 million), AJ Burnett (5 years $85 million), and Mark Teixeira (8 years $170 million). Adding to their squad a growing list top paid players in the MLB. Are they done or will they continue to spend?
So what would we buy with $425 million?
- Purchase a 7300 square-foot mansion sitting on 6 acres in Scottsdale, Arizona – $5 Million.
- Purchase a 2006 Learjet 60SE – $10 million.
- Purchase a 2 story 6800 square-foot condo in Las Vegas at the Turnberry Towers – $5.75 million.
- Purchase a $16 million, 9,000 square-foot penthouse in Downtown Toronto.
Total -$36.75 Million
So how would we invest the $425 million?
- Buy the struggling Phoenix Coyotes for about $135 million and move them to wither Winnipeg or Quebec City.
- Invest $53.25 million and buy 1 million shares in Visa.
- Set aside $50 million to buy land for future developments.
- Lock up $100 million in a bank collecting about 7-8% interest.
Total -$338.25 Million
The remaining $48.5 million we would keep in an account as daily to yearly expenses. That’s what we would do with $423.5 million. What would you do with this money?
Darren Rovell of CNBC thinks otherwise this is how he would spend the $423.5 million the Yankees have dished out on 3 player contracts. What The Yankees Could Buy With $423.5 Million.