According to the Associated Press, 21st Century FOX announced an agreement Friday to raise its ownership stake in YES Network from 49 percent of 80 percent, thus taking majority control. The deal is expected to close by the end of March.
Fox originally bought in on YES in 2012 and had the right to increase their stake to 80 percent. The Yankees, who have never had a majority share in the network according to Newsday, will continue to own the remaining 20 percent after the deal is finalized.
Here’s a statement from Yankees co-chairman Hal Steinbrenner:
“Clearly, 21st Century Fox is a great partner for us as the YES Network fulfills and expands its potential as one of the nation’s premier regional sports networks. We are gratified that 21st Century Fox has increased their stake and investment in the network. Yankee Global Enterprises is eager to continue working with 21st Century Fox as we explore ways to take YES to even greater heights.”
Wendy Thurm, who does an excellent job tracking the various television rights deals over at FanGraphs, writes that this will result in more cash for the Yankees. While it’s not quite on the level of the Dodgers, Thurm estimates that they’ll receive somewhere in the range of $150 million annually.
The Rockies announced a minor swap of relief pitchers on Monday evening. The Cubs sent lefty Zac Rosscup to the Rockies in exchange for right-hander Matt Carasiti.
Rosscup, 29, was designated for assignment by the Cubs last Thursday. He spent only two-thirds of an inning in the majors this year and has a 5.32 career ERA across 47 1/3 innings. Rosscup has spent most of the season with Triple-A Iowa, posting a 2.60 ERA in 27 2/3 innings.
Carasiti, 25, spent 15 2/3 innings in the majors last year, putting up an ugly 9.19 ERA. With Triple-A Albuquerque this season, he compiled a 2.37 ERA and a 43/13 K/BB ratio in 30 1/3 innings.
The Associated Press reported that on Monday, the U.S. Court of Appeals for the 9th Circuit affirmed a district court ruling which holds that the minor leagues are exempt from federal antitrust law, just like the major leagues.
In 2015, four minor leaguers sued Major League Baseball, alleging that MLB violated antitrust laws with its hiring and employment policies. They accused MLB of “restrain[ing] horizontal competition between and among” franchises and “artificially and illegally depressing” the salaries of minor league players.
The U.S. Court of Appeals said the players failed to state an antitrust claim, as the Curt Flood Act of 1998 exempted Minor League Baseball explicitly from antitrust laws.
This case is separate from the Aaron Senne case in which Major League Baseball is accused of violating the Fair Labor Standards Act. That case was recertified as a class action lawsuit in March. In December, Major League Baseball established a political action committee (PAC), which came months after two members of Congress sought to change language in the FLSA so that minor league players could continue to be paid substandard wages.