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Yankee Global Enterprises, LLC
- Yankee Global Enterprises, LLC, formerly YankeeNets, LLC, is an American limited liability company (LLC) which owns the New York Yankees baseball team, along with a plurality stake in YES Network and a 20% and 10% stake in New York City FC and AC Milan soccer clubs, respectively.
en.wikipedia.org/wiki/Yankee_Global_Enterprises
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Yankee Global Enterprises, LLC, formerly YankeeNets, LLC, is an American limited liability company (LLC) which owns the New York Yankees baseball team, along with a plurality stake in YES Network and a 20% and 10% stake in New York City FC and AC Milan soccer clubs, respectively.
Harold Steinbrenner (born December 3, 1969) is an American businessman best known as the chairman and managing general partner of Yankee Global Enterprises, which owns the New York Yankees of Major League Baseball and minority shares of American soccer club New York City Football Club of Major League Soccer and Italian professional football ...
List of New York Yankees owners and executives. Brian Cashman (left) and Hal Steinbrenner (right) are the current general manager and chairman of the New York Yankees, respectively. The New York Yankees are a Major League Baseball (MLB) franchise based in The Bronx, New York City, New York. They play in the American League East division.
NameTenure2010–2020 ^2010–present ^1973–20101964–1973Aug 22, 2023 · While YES remained, the Nets and Devils were sold off by 2004, and YankeeNets rebranded to YGE, still owned and operated by heirs of the Steinbrenner family. In addition to now owning the Yankees, YGE has stakes in YES, two successful soccer franchises, and a premier hospitality company that’s become a global sports institution.
- Overview
- Prior to YankeeNets
- Merger with the Nets
- Marketing agreements
- Acquisition of the Devils
- Broadcast negotiations
- The breakup of YankeeNets
- Name change
- Money-losing controversy
- The future
Yankee Global Enterprises LLC (Yankee Global) was formed in 1999, and is the owner of the New York Yankees baseball club and the YES Network cable channel. It was originally created through a merger between the Yankees and the New Jersey Nets basketball team, known at the time as YankeeNets. Yankee Global Enterprises is controlled by the Steinbrenn...
In 1998, the Yankees had their most successful season in modern history, winning a combined total of 125 regular season and playoff games, culminating in a World Series championship. The team was in discussions to be sold to Cablevision, who at the time owned the broadcast rights to every MLB, NBA and NHL team in the New York City Metropolitan area...
After the proposed sale of the New York Yankees to Cablevision fell through, the Yankees and Nets agreed to merge business operations, creating a combined holding company. This was done to increase the negotiating power of both teams for future television contracts and stadium and arena construction deals. The pre-merger owners would continue to co...
YankeeNets engaged in marketing agreements with the New York Giants football team and the British football powerhouse Manchester United, which resulted in exclusive Giants and Manchester United programming on the YES Network for a period of time.
YankeeNets created an affiliate, Puck Holdings, which purchased the New Jersey Devils ice hockey team, to have relationships in all major league professional sports, and to give better leverage to the Nets in constructing the Prudential Center in Newark.
With the Yankees' television contract with Cablevision expiring in 2001 and the Nets' contract expiring after the 2001-2002 season, the teams negotiated together with potential cable partners for the next contract. They spoke to Cablevision about remaining on their networks, or creating a new network with them. Cablevision offered to pair both team...
In 2003, reports leaked that the Yankees and Nets sides of the organization were in disagreement with each other. The Yankee ownership in Tampa did not want any part in paying for an arena for the Nets and Devils, as the teams were money-losers. This led to the Nets being sold to Bruce Ratner, who intended to move the team to an arena in Brooklyn, New York, and the Devils being sold to businessman Jeffrey Vanderbeek, who moved the franchise to the Prudential Center in Newark, New Jersey as was originally proposed by the previous Nets ownership. Since the breakup, the Devils also extended their television contract with Cablevision, ending the speculation that they would move to YES once their initial contract expired after the 2006-07 hockey season.
The legacy of YankeeNets is the YES Network, which allowed both the Yankees and Nets to dramatically increase their revenues. This allowed the Yankees to front the $800 million to construct their new Yankee Stadium.
In 2004, with the exodus of the Nets and Devils complete, the company changed its name to Yankee Global Enterprises LLC, keeping the Yankees and the YES Network as separate entities owned by the same company.
In August 2006, Yankees general manager Brian Cashman said in an interview with Bloomberg radio, that the team is losing money, due to Major League Baseball's luxury tax. It is unknown if the entity that is losing money is Yankee Global, or just the ballclub. After barely breaking even in 2002, the YES Network has been successful in generating rev...
There had been reports that Yankee Global was interested in purchasing all or part of an AM radio station to broadcast the Yankees' games. CBS Radio, owner of WCBS-AM (the team's flagship station), had been looking to drop its MLB broadcasts ever since the league simulcasted local games on XM Satellite Radio, which does not compensate local station...
Mar 3, 2016 · For nearly a decade, Yankees managing general partner Harold Zieg Steinbrenner -- the heir to Boss George -- has held the destiny of the team in his hands. But how does he feel about it?
Oct 25, 2022 · YGE owns more than 25% of the YES Network, which broadcasts games of the Yankees and other teams; 20% of New York City FC of Major League Soccer; and a stake in Legends Hospitality.
