Mike & Mike of ESPN Radio helped to break the story from Fortune magazine this morning.
Jon Birger and Tim Arango wrote that the YES Network is reportedly for sale. That’s right, the highest rated Regional Sports Network that is co-owned by the New York Yankees and former New Jersey Nets owner Ray Chambers along with investment firm, Goldman Sachs. According to the story, Chambers and Goldman Sachs want to sell their share. The selling price is expected to reach as high as $3.5 million.
We’ve heard in the past few years that Yankees principal owner George Steinbrenner has been in failing health. Recently, son Hank Steinbrenner has taken more of a starring role in the Yankees day-to-day operations. George has reduced his public appearances leading to speculation that his health has not been good. But this is the first we’ve heard that YES which makes a lot of money for the Yankees is up for sale.
Birger and Arango say potential buyers include Cablevision (as expected) and Verizon. We’ll continue to monitor this story throughout the day. Links later this morning.
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