Gothamist
A non-profit newsroom, powered by WNYC.
Gothamist
Listen Live
Arts & Entertainment
Report: YES Network For Sale, Maybe Yankees Soon
By
tien mao
Published Aug 2, 2007
Modified Mar 7, 2008
Share
FacebookTwitterRedditEmail
Never miss a story
Email address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .
By
tien mao
Published Aug 2, 2007
Modified Mar 7, 2008
Share
FacebookTwitterRedditEmail
We rely on your support to make local news available to all
Make your contribution now and help Gothamist thrive in 2026. Donate today
Gothamist is funded by sponsors and member donations
Could the YES Network and the Yankees be up for sale? A report from Fortune Magazine quotes sources that say the YES Network is being shopped around - and that the Yankees could be up for sale in three or four years.
YES is owned by jointly by the Yankees, Goldman Sachs, and former Nets owner Ray Chambers; Fortune reports that Chambers and Goldman want to cash out and a deal could come as early as the end of summer. The possible list of bidders that Fortune presents include some of the biggest names in media - Cablevision, Comcast, News Corp., and Verizon - and the network could go for $3-3.5 billion. Fortune estimated the value based on the percentage of 2006 revenue ($340.5 million) that translates into cash flow ($136 million) and that other regional sports networks sold for 19 times cash flow.
But is YES even up for sale? Yankees president Randy Levine says "Absolutely not," but then admits there's some "testing of the market." A YES board member and a Goldman managing director says, "We're testing the waters with a limited universe of quality buyers. We would consider selling only if we receive a full and fair price."
But what about the Yankees? Hal Steinbrenner says no way, no how, "There's no thought of selling the team. It's been in the family for 35 years, and it's going to stay that way." One source Fortune talked to said a YES sale could ensure the Steinbrenners have enough money to continue owning the team - and for use on future estate taxes, signing free agents and draft picks.
A minority owner says the topic of selling the team "comes up all the time" in conversations, and another limited partner tells Fortune, "If I were handicapping it, I think we're looking at a sale of the team within three or four years." What would the actual team sell for? One banker puts the figure as high as $1.5 billion.
Tagged
baseball
goldman sachs
If I
media
money
nets
news
news corp
randy levine
sports
Sports Business
taxes
Yankees
yes network
tien mao
Read more
Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
MORE arts-entertainment
A new film invites you to eavesdrop on one of the greatest conversations in NYC history
In 1972, legendary documentarian William Greaves filmed a party he threw for Harlem Renaissance luminaries. With help from his family, "Once Upon a Time in Harlem" brings that decades-old footage to theaters.
By
Sonia Rao
Published Oct 21, 2026
The Knicks are NBA champions. Now they have to start dressing the part.
Before they attempt to fend off LeBron James and the 76ers on Tuesday, the Knicks will have a chance to show off their winning mentality through their tunnel fits.
By
Sonia Rao
Arts & Entertainment
The Knicks are NBA champions. Now they have to start dressing the part.
Before they attempt to fend off LeBron James and the 76ers on Tuesday, the Knicks will have a chance to show off their winning mentality through their tunnel fits.
By
Sonia Rao
Will Barnes and Noble in the East Village spell doom for smaller shops? It's complicated.
By
Sonia Rao
Can eligible NYC singles find love with 30 minutes and some really spicy food?
By
Elizabeth Shwe
and
James Ramsay
How the NYC Marathon has changed in the last 50 years
By
Hannah Frishberg
Never miss a story
Catch up on the most important headlines with a roundup of essential NYC stories, delivered to your inbox daily.
Sign upEmail address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .