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.
This is happening, people.
Earlier we heard Joe Maddon being non-committal about Kyle Schwarber joining the Cubs for the World Series. Now it seems pretty clear that the Cubs are committal indeed: Jon Morosi reports that Schwarber is en route to Cleveland from Arizona on a private jet and that he’s expected to DH in Game 1 tomorrow night.
Schwarber hasn’t played in a game that counted since April 7. His potent bat is could be a windfall for a Cubs team that didn’t have a game-changing option at DH in the American League park.
Schwarber lost the whole season due to a knee injury, but he hit .246/.355/.487 with 16 homers and 43 RBI in 69 games as a rookie in 2015. His big coming out party was in the playoffs, however, when he hit three homers in five postseason games while going 7-for-13 with two walks in five games.
Paul Hoynes of the Cleveland Plain Dealer reports that Indians First Baseman/DH Carlos Santana shagged some flyballs in left field during the Indians’ workout today.
Sure, why not? Santana has played one game in the outfield in his major league career and that was over four years ago, but the Indians will have to play in Chicago without the DH, meaning either losing Santana’s bat or that of Mike Napoli.
It would be up to Terry Francona to decide if that happens, but ultimately I don’t think he’ll make it real and, rather, will just forget about it, because Santana’s defense out there would in no way be smooth.
I’m sorry. I’m sick today and I’m on a lot of cold medicine.