News Corp acquires their stake in YES Network

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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.

Drew Smyly has a torn UCL, will undergo Tommy John surgery

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Ryan Divish of the Seattle Times reports that Mariners starter Drew Smyly has a torn UCL and will undergo Tommy John surgery.

Smyly was diagnosed with a flexor strain in his left elbow at the end of spring training. He had been on the shelf since then, but was throwing bullpen sessions. He was set to throw his first simulated game today, but that was scratched after he said his arm didn’t feel right in his last throwing session. The Mariners called it “a little setback.” A reexamination shows that this is not little, obviously.

The Mariners acquired Smyly in January for outfielder Mallex Smith and two minor leaguers, and were expected to utilize the lefty as a core member of their rotation in 2017. Now he’s going to miss all of this season and, given that he’s on a one-year deal, will be released by the team at the end of the season. Odds are that he’ll be unable to pitch for most of 2018.

Tough break.

Miguel Montero to be designated for assignment

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A play in three acts:

I.

Miguel Montero talks smack about his teammate

II.

A team leader talks smack about Miguel Montero

III.

The Cubs get rid of Miguel Montero:

This is rather surprising. As I said in the last post, I figured he’d apologize today and it’d all be in the past. Guess not. Even more surprising: we learned earlier this week that the key to good clubhouse chemistry is having a teammate everyone hates. Guess that only works for the Giants.

Montero is making $14 million this season, so the Cubs are definitely eating some money to make a headache go away. They’re also losing some offensive production, as Montero has hit a nice .286/.366/.439 on the season. His terrible defense against opposing baserunners mitigates that, of course. And the whole “pissing off everyone in the clubhouse” thing isn’t exactly working out for him either, so here we are.

Oh well, have a good one, Miguel.