MARKET SAVVY : Next Play Could Be the Fans’ if YankeesNets Offers Shares to Public

Fans of the New York Yankees and New Jersey Nets might be able to buy stock from the company that will emerge from the union of the teams.

Crain’s New York Business reported that the new holding company, YankeesNets, is exploring the possibility of selling stock to the public. The merger of the baseball Yankees and basketball Nets is expected to be finalized in the next few days.

Crain’s also said YankeesNets expects a tenfold increase in profit by 2005, which might be used to acquire other sports franchises. Crain’s quoted unidentified sources, saying financial advisors for the new company are exploring a bid for the New York Jets.

The sources said financial advisors for YankeesNets are studying other initial public offerings by sports teams, especially the one by British soccer team Manchester United, as models.

Manchester’s British-traded shares have had a solid year, returning 19%. But U.S.-traded sports franchises have been hot and cold. Shares of Cleveland Indians Baseball Co., one of the Yankees’ main American League rivals, have rocketed 149%, while the Boston Celtics basketball partnership has returned 9% and hockey team owner Florida Panthers Holdings Inc. has lost 4%.