Yanks to Sell YES Network Stake

[JobaRules26]

I bet the Steinbrenners sell within 3-5 years. Rupert Murdoch will buy the team. 80's all over again. ****!

[Yankees90.]

I think Hal must be sencing that the team is going to be a bottom tier team in the next 5 years... So he's going to sell now while the price in through the roof... Smart for him bad for us Yankee fans if/when we become such a loser team...

Highly doubt it. The Yanks are ranking in over 400 million a year in revenue. If this team wanted to, we could easily have a $200 million + payroll. Its just the fact having to pay SO much just for going over a luxury tax is such a pain in the a55, but nothing the Yankees can't afford.

[LeoYankee]

Highly doubt it. The Yanks are ranking in over 400 million a year in revenue. If this team wanted to, we could easily have a $200 million + payroll. Its just the fact having to pay SO much just for going over a luxury tax is such a pain in the a55, but nothing the Yankees can't afford.

They actually make over $650m per year between team, YES and remember, they own all the food supply that supplies many stadiums. Started that company a few years ago w Dallas Cowboys.

The way they are heading is the smart biz move.

[grandsalami]

Over the weekend, the New York Times reported that News Corp. is close to acquiring a 49 percent share of YES, which has been valued for purposes of the transaction at $3 billion. A 49 percent share, then, will cost News Corp. $1.47 billion. Until now, shares in YES were divided among the Yankees (34 percent), investment banks Goldman Sachs and Provident Equity (40 percent) and a group of former Nets owners (26 percent). The deal includes an option for News Corp. to increase its stake to 80 percent within five years.

makes it seem like a possible NYY sale down the line

[Ill21]

I'm buying

[Webslinger]

1 trillion dollars for the yankees. Who's in?

[Pinstripe power]

lets slush fund enoug money to buy the team!

[Yankee Clipper]

Update:

The Yankees will sell 9% of their stake in YES, lowering their share to 25% and earning the club a whopping $270M. The team might also receive a $400-500M payment separate from the rights agreement, so think of it like a signing bonus.

As part of the transaction, the Yankees have extended their agreement with YES to ensure the network will broadcast games through 2042. YES currently pays the team $85M annually for broadcast rights, but escalators will push that to $350M annually (!) by the end of the new agreement.

Goldman, NJ Holdings, and Providence will retain some stake in YES but will have the option to sell the remainder to the Yankees and News Corp. in four years for a portion of the predetermined market value of $3.8 billion. That’s what everyone expects the network to be worth in 2016.

Although there has been speculation (including by me) this deal with News Corp. is an indication the Steinbrenner family will look to sell the team down the line, the reporting trio all say this move puts them in better position to hold on to the club long-term.

http://riveraveblues.com/2012/11/the...ws-corp-79424/

[johnnyi]

"As part of the transaction, the Yankees have extended their agreement with YES to ensure the network will broadcast games through 2042. YES currently pays the team $85M annually for broadcast rights, but escalators will push that to $350M annually (!) by the end of the new agreement."

So if News Corp turns the Yankees brand from a Regional to a National network (and possibly expands their international broadcasts), the Yankees 20% share in the YES network might be worth more than their 100% share today. This is beyond brilliant. The Yankees owners (4 children of George Steinbrenner) get 80% of between $3 billion and $3.8 billion dollars to set their family up for generations. Then, they get an expert media conglomerate to build their brand nationwide and possibly internationally and reap the benefits from that as well.

[LeoYankee]

This is just amazing genius business.

Hence, nobody here should complain or give a fk about arods salary. It's pocket change.

Go get em Hal!

[rrzubnyy]

This is just amazing genius business.

Hence, nobody here should complain or give a fk about arods salary. It's pocket change.

Go get em Hal!

We are getting nothing but the 1960's Yankees again. Hal will downsize to get ready to sell.....