New York Yankees, Dallas Cowboys seek to sell Legends Hospitality -sources [Reuters]
Moelis & Company Class A (MC)
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Source: Reuters
New York Yankees, Dallas Cowboys seek to sell Legends Hospitality -sources March 12 (Reuters) - The New York Yankees and the Dallas Cowboys are exploring a sale of Legends Hospitality in a deal they are hoping could value the U.S. stadium operations company at more than $1 billion, including debt, according to people familiar with the matter. The move comes three years after investment firm New Mountain Capital LLC acquired a stake in Legends Hospitality, joining the sports teams as owners. It may not result in a deal, as sports events get canceled in the wake of the coronavirus outbreak, weighing on Legends Hospitality’s prospects. Investment bank Moelis & Co is advising on an auction for Legends Hospitality, the sources said, asking not to be identified because the matter is confidential. The Cowboys, New Mountain, Legends Hospitality and Moelis declined to comment. The Yankees did not respond to requests for comment. The Yankees and Cowboys formed Legends Hospitality in 2008 to ope
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