NEW YORK — The New York Yankees are buying back the YES Network, partnering with Amazon in a deal that will give the company the right to stream games in the team’s broadcast territory.
The deal for the team’s parent company to purchase 80 percent of the network from The Walt Disney Co. values YES at $3.47 billion, nearly $500 million less than when 21st Century Fox acquired a majority stake in 2014.
Yankee Global Enterprises is the lead investor and partnered with Amazon.com Inc. and Sinclair Broadcast Group as its strategic investors, a person familiar with the negotiations told The Associated Press on Friday. The person spoke on condition of anonymity because the purchase was not announced and has up to 120 days to close.
David Price has opted out of the 2020 season. he’s the biggest star to do so to date. He said the that he will not play the 2020 season, citing health concerns because of the coronavirus pandemic.
Price joins Ryan Zimmerman and Joe Ross of the Washington Nationals, Ian Desmond of the Colorado Rockies, Mike Leake of the Arizona Diamondbacks, and free agent Tyson Ross on the list of players who have chosen not to take part in the season.
Price, who was traded from the Boston Red Sox to the Dodgers in a five-player deal in February, previously agreed to pay more than 200 Dodgers minor leaguers $1,000 each to make up for lost wages. He was poised to enter the fifth season of a seven-year, $217 million contract he signed with the Red Sox in December of 2015. Per the terms of the agreement between the MLBPA and MLB, Price will not be paid for the 2020 season.