There’s a report on CNN.com from Fortune (nod to Was Watching for pointing this out earlier) saying that the YES Network may be up for sale. The price range? $3 billion – $3.5 billion. Wow.
From a business perspective, this deal may come down to the other owners (Goldman Sachs & Co. and Ray Chambers, former Nets owner) more than George Steinbrenner, but I want to take a look at it from a fan’s standpoint.
I think it’s a good idea for the network to divorce itself from the team. Obviously, no matter who owns the team you probably aren’t going to get rid of Michael Kay, but if his checks are no longer written by the team it could do away with some of the hometown bias. Or at least it will take away the perception of such impropriety, to some degree.
Another interesting question is whether the sale of the YES Network would mean that Steinbrenner would turn around and offer up the local Yankee TV rights to the highest bidder when the contract runs out. That would be a kick in the pants for any potential buyer. The network would be left with the Nets, Devils and Emmy award-winning CenterStage with Michael Kay.
On the field, this move probably wouldn’t have any impact at all. Steinbrenner’s pockets would be lined with YES money, which I have no doubt he would put back on the field. The only way this effects the team is if it’s the first step to George selling the team. If that happens, all bets are off. Who knows what type of owner we’d wind up with.
One last thing to keep an eye on with this story. Two of the possible bidders listed in the article are cable companies: Cablevision and Comcast. I’d much prefer the network didn’t go to one of these companies because I don’t want to see another lockout. When YES first went on the air, there was a huge debate over pricing and a large portion of Yankee fans couldn’t get the games on their cable service. Let’s hope this situation can be avoided if a sale occurs.
For the record, Hal Steinbrenner, George’s son and the heir apparent had this to say about a possible sale of the team:
"There's no thought of selling the team," he says. "It's been in the family for 35 years, and it's going to stay that way."
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Perfect timing for this story, Brian. This story was just on at 12:30 on ESPN and brought up so many questions.
Supposedly anyone who has anything to do with the Yankees will not comment on whether George is ill. But moving assets/the sale of a revenue driving network in Yes/the expansion of his youngest son's role and representation of the Yankees.... it makes you wonder, esp. when you said he hasn't been seen at games as of late.
I've got tons of questions (sorry)..
*How would the team change if and when Hal takes over?
*Will he be more of a dollars and sense owner than a big spender?
*Do more homegrown young players become the Yankees future as opposed to high paid superstars via free agency?
(I think the latter is what Cashman is shooting for, and will Hal have the patience to let this happen?)
Sorry for so many questions, but the report on TV put the future of the Yankees up in the air...
Another interesting question is whether the sale of the YES Network would mean that Steinbrenner would turn around and offer up the local Yankee TV rights to the highest bidder when the contract runs out. That would be a kick in the pants for any potential buyer. The network would be left with the Nets, Devils and Emmy award-winning CenterStage with Michael Kay.
Pretty funny, Brian. But I would guess, without any actual proof, that any buyer would have to demand some kind of guarantee that the Yankees would be signed for x-amount of years (maybe even a 20 year contract). Of course, in doing so, the Yankees would probably get even more money from that deal (since they would be signing their cable rights away again). So I guess the $3 billion may actually turn out to be even more. Wow.
Quite a game going on in the Bronx right now. I don't know if are watching the game on TV or just getting the updates online, but if you just watched Posada's game-tying double, didn't it look Dye thought it would be foul? Maybe Jermaine is just really slow, but it sure looked like he was just lazily jogging over to the line. Very strange.
Hey, Erin...
I'm watching the Phillies (and new pitcher Kyle Lohse,) and they announced it was 8-6 White Sox vs. Yankees, and that they knocked Clemens out early. Yes 6 of the runs were unearned. Damn! If I was Roger, I'd be fuming. What happened to score 6 unearned runs?
Then they announced that A-Rod had a double to break his 0-21, and that the Yanks tied the score! They're hitting the cover off the ball lately. Wish I could actually see it (we don't get many Yankees games in our neck of the woods).
According to ESPN, only five are recorded as unearned runs. It was all about a miseed double play opportunity. Cano had the ball, but bobbled it and couldn't get anyone. I think there were two on at the time, and the score was 3-0. It loaded the bases. That explains it, I think.
Ugh, I've been in meetings all day. Went into the first meeting w/ the Yanks down 8-0. Came out of the next and it was tied. I'm going to have to watch this one on rewind tonight.
Oh boy. I can't wait to read about Kyle Farnsworth in the post about today's game.
Ask and ye shall receive.