Educational privatization is rapidly expanding in many urban school districts, altering the social, political, and economic dynamics of educational policy and leadership. Yet many adherents cast privatization primarily as a fiscal or economic alternative to traditional public school management, ignoring these broader alterations. Drawing from a review of the educational privatization literature, as well as an analysis of current privatization reforms, this article offers an original typology of educational privatization and applies the typology to the reforms underway in New York City. It concludes with a discussion of the implications of this typology and privatization reforms for educational leadership practice and policy. (Contains 1 table, 1 figure and 4 footnotes.)