We heard about this last week, but now it’s official and now we know how big a stake:
News Corporation said Tuesday it was acquiring a 49 percent stake in the Yes Network, the New York Yankees’ regional cable sports channel. Yankee Global Enterprises, Goldman Sachs and other investors will reduce their ownership as part of the transaction.
News Corp gets an option to buy up to an 80 percent stake in the network. If that were to happen the Steinbrenner family and the Yankees, obviously, would be a lot more like every other team which receives rights payments from a broadcaster rather than having one side of the house pay the other. Which makes this more interesting:
The Yankees also committed to stay on Yes Network through 2042, subject to approval of the deal from Major League Baseball.
Huh. You have to assume that there is some sort of mechanism to automatically keep those TV rights at the top of the market, because locking in to some sort of relationship for the next thirty years would, quite obviously, hurt the Yankees’ ability to get top value for broadcast rights from the presumably then third-party YES Network.
The Marlins game was understandably cancelled yesterday. The baseball schedule has always gone on in such situations, however, and the Marlins will host the Mets tonight in Miami.
As they do so, they will all be wearing number 16, Jose Fernandez’s number, in honor of their fallen teammate.
A nice gesture on what will certainly be an emotional night.
ESPN’s Keith Law reports the Twins have hired Derek Falvey as their new president of baseball operations.
Falvey has been the Indians assistant general manager for the past year after spending a decade with the organization. He’s only 33 and he’s analytically-inclined. Which, given that the Twins front office has been particularly young or analytically-inclined, should be a pretty major change of pace. It’s also worth noting that going from one year of experience as an assistant general manager all the way to president of baseball operations — who will presumably oversee a general manager of his own — is a big, big jump. Either the Twins have a LOAD of confidence in Falvey or else they were having serious issues finding more experienced candidates. Of course both of those things could be true.
The Twins’ longtime general manager, Terry Ryan, was fired in July. The club lost its 100th game yesterday, marking only the second time since the franchise moved to Minnesota that it has lost that many games.