Yankee Global Enterprises

Yankee Global Enterprises, LLC, formerly YankeeNets, LLC, is an American company which owns the New York Yankees baseball team, along with a majority stake in YES Network and the New York City FC soccer team. It was formed in 1999 and is controlled by the family of George Steinbrenner. Other investors including Lester Crown, Donald Marron and Jerry Speyer own minority stakes.

The company was originally created as YankeeNets, through a merger between the Yankees and the New Jersey Nets.

Yankee Global Enterprises, LLC
Formerly
YankeeNets, LLC (1990–2004)
Private LLC
IndustrySports
Hospitality
FoundedOctober 1999
FounderGeorge Steinbrenner
Headquarters,
United States
Area served
New York City
Key people
Hank Steinbrenner
Hal Steinbrenner
Lester Crown
Donald Marron
Jerry Speyer
ProductsProfessional sports teams
sports venues
cable channels
BrandsYankee
OwnerSteinbrenner family
DivisionsNew York Yankees Partnership
Subsidiaries

History

In 1998, the New York Yankees had their most successful season in modern history, winning a combined total of 125 regular season and playoff games, culminating in a World Series championship. The team was in discussions to be sold to Cablevision, who at the time owned the broadcast rights to every Major League Baseball, National Basketball Association (NBA), and National Hockey League (NHL) team in the New York metropolitan area.[2] The proposed deal fell through because the two sides could not come to an agreement that would include George Steinbrenner continuing to run the team and Cablevision's other pro teams, New York Knicks of the NBA and New York Rangers of the NHL, for the new owners.[3]

After the proposed sale fell through, the Yankees and New Jersey Nets of the NBA agreed to merge business operations, creating a combined holding company. This was done to increase the negotiating power of both teams for future television contracts and stadium and arena construction deals. The Yankee's local broadcasting rights with Cablevision's MSG Network were expiring at the end of 2000 season and the Nets' deal with Fox Sports New York would end with the 2001-2002 season. Steinbrenner began considering his own regional sports cable channel. Primary Nets owner Lewis Katz was mainly interested in a new arena.[3] The pre-merger owners would continue to control their teams, with a minority interest in the other team. This arrangement was approved by both Major League Baseball and the NBA.

Harvey Schiller was hired as chairman and chief executive officer of the company in October 1999. The New Jersey Devils of the NHL was offered for sale to YankeeNets at the end of 1999. With the company and Nets team unable to take on more debt, Katz and Ray Chambers formed Puck Holdings as an affiliate of the company to acquire the Devils for $175 million. Bonds were issued in March 2000 to pay for Steinbrenner's share of the Yankees.[3]

With the Yankees' television contract with Cablevision expiring in 2001 and the Nets' contract expiring after the 2001-2002 season, the teams negotiated together with potential cable partners for the next contract. They spoke to Cablevision about remaining on their networks.[3] After an IMG proposed partnership channel, an MSG/Cablevision lawsuit and a termination payment by September 2001, YankeeNets had cleared the way to start its Yankees Entertainment and Sports Network with 40% outside ownership.[4]

Since the founding, the two ownership groups had clashed over team management, players' contract, purchasing the Devils and YES Network. Additionally, Steinbrenner would not subsidize the loss from the Devils.[5] On December 8, 2003, the two sides agreed to split with the Nets owners selling the Nets and giving up their part of the Yankees. The Nets sale did not include the team's stake in the YES Network, which remained with the pre-merger owners.[6] After a reverse stock swap in 2004, the Nets were sold to Brooklyn Basketball LLC, which was controlled by Bruce Ratner, and 38% of Puck Holdings was sold to an entity controlled by Lewis Katz and Ray Chambers.[7]

Yankee Global Enterprises

In 2004, with the exodus of the Nets and Devils complete, the company changed its name to Yankee Global Enterprises LLC, keeping the Yankees and the YES Network as separate entities owned by the same company.[7] Steinbrenner named Steve Swindal, his son-in-law, to be chairman of Yankee Global Enterprises and his successor as boss of the Yankees in June 2005.[8] When Swindal and Jennifer Steinbrenner divorced in 2007, the Yankees bought Swindal out of his financial stake in the team, with Hal Steinbrenner succeeding Swindal as chairman of Yankee Global Enterprises.[9]

In April 2008, Legends Hospitality Management won the Yankee Stadium concessions away from Centerplate. With no known history, Legends was revealed on October 20, 2008 to be a new stadium hospitality company evenly owned by the Yankees and Dallas Cowboys and a third owned by some combination of Goldman Sachs and CIC Partners.[10]

In November 2012, News Corporation agreed to terms on acquiring a 49% stake in YES. As a consequence, each of the network's previous owners had their ownership stakes reduced with Yankee Global's new holdings to be 25% share. As a result of the sale to Fox, the Yankees agreed to keep their games on the network through 2041, which would be the network's 40th year of existence.[11] In March 2014, Fox Sports acquired 32% of the YES Network leaving Yankee Global with only a 20% stake.[12] In the agreement, Yankee Global has the right to purchase YES Network if Fox puts it up for sale.[13]

With Disney acquiring most of 21st Century Fox, Yankee Global is considering purchasing back the share of YES Network it does not own.[13] On June 27, 2018, the United States Department of Justice gave antitrust approval to Disney under the condition of selling Fox's 22 regional sports channels, to which the company has agreed.[14] Yankee Global Enterprises confirmed it would repurchase a majority stake in YES Network on March 8, 2019.[15]

See also

References

  1. ^ Ozanian, Mike (December 15, 2017). "New York Yankees Hold Substantial Rights In $66 Billion Disney-Fox Deal". Forbes. Retrieved July 3, 2018.
  2. ^ https://www.nytimes.com/1998/11/21/nyregion/steinbrenner-is-said-to-be-close-to-sale-of-yankees-to-cablevision.html
  3. ^ a b c d "History of YankeeNets LLC". International Directory of Company Histories. Vol. 35. St. James Press. 2001. Retrieved June 29, 2018 – via FundingUniverse.
  4. ^ Sandomir, Richard (September 11, 2001). "YankeeNets Getting Own Cable Network". New York Times. Retrieved July 2, 2018.
  5. ^ Bagli, Charles V. (August 8, 2003). "YankeeNets Unravels, And Teams May Move". New York Times. Retrieved July 2, 2018.
  6. ^ Arango, Tim (December 9, 2003). "YankeeNets is Pulling the Plug". New York Post. Retrieved July 2, 2018.
  7. ^ a b "YankeeNets owners complete deal to separate". ESPN.com. AP. March 24, 2004. Retrieved July 2, 2018.
  8. ^ "Steve Swindal, George Steinbrenner's Once Heir Apparent With The Yankees, Finds New Success « CBS New York". Newyork.cbslocal.com. March 7, 2012. Retrieved January 7, 2019.
  9. ^ "Yankees complete buyout of Stephen Swindal". USA Today. September 28, 2007. Retrieved January 7, 2019.
  10. ^ Rovell, Darren (October 20, 2008). "Yankees, Cowboys, Goldman Sachs Form Concessionaire". CNBC. Retrieved July 3, 2018.
  11. ^ Darren Rovell (November 20, 2012). "News Corp. acquires stake in YES". ESPN. ESPN.
  12. ^ Steinberg, Brian (January 24, 2014). "Fox To Acquire Majority Stake In Yankees' YES Network". Variety. Retrieved July 3, 2018.
  13. ^ a b Soshnick, Scott (June 14, 2018). "Yankees Consider Buying Back YES If Fox Sells Assets". Bloomberg.com. Retrieved July 3, 2018.
  14. ^ "Disney wins US antitrust approval to buy Fox assets". CNBC. June 27, 2018. Retrieved June 28, 2018.
  15. ^ Ozanian, Mike (March 8, 2019). "New York Yankees Buy Back YES Network For $3.47 Billion". Forbes. Retrieved March 9, 2019.
2019 Major League Baseball season

The 2019 Major League Baseball season began on March 20 and is scheduled to end on September 29. It is the 150th anniversary of professional baseball, dating back to the 1869 foundation of the Cincinnati Red Stockings. The postseason will begin on October 1. The World Series is set to begin on October 22 and a potential Game 7 would be played on October 30. The entire schedule was released on August 22, 2018.The 90th Major League Baseball All-Star Game was held on July 9 at Progressive Field, home of the Cleveland Indians. The American League won, 4–3, for their seventh straight victory.

2019–20 NBA season

The 2019–20 NBA season will be the 74th season of the National Basketball Association (NBA). The regular season will begin in October 2019 and will end in April 2020. The playoffs will begin in April 2020, and will end with the NBA Finals in June 2020. The 2020 NBA All-Star Game will be played on February 16, 2020, at the United Center in Chicago, Illinois.

Acquisition of 21st Century Fox by Disney

The acquisition of 21st Century Fox by The Walt Disney Company took place on March 20, 2019. Among other key assets, the acquisition included the 20th Century Fox film and television studios, U.S. cable/satellite channels such as FX, international networks, a 73% stake in National Geographic Partners, Indian television broadcaster Star India, and a 30% stake in Hulu. Immediately preceding the acquisition, 21st Century Fox spun off the Fox Broadcasting Company, Fox Television Stations, Fox News Channel, the Fox Business Network, FS1, FS2, Fox Deportes, and the Big Ten Network into the newly-formed Fox Corporation.

Donald Keough

Donald Raymond Keough (September 4, 1926 – February 24, 2015) was an Irish-American businessman and Chairman of the Board of Allen & Company LLC, a New York investment banking firm. He was elected to that position in April 1993.Keough retired as president, chief operating officer and a director of The Coca-Cola Company in April 1993, positions he had held since early 1981; his tenure with the company began in 1950. From 1986 to 1993 he served as Chairman of the Board of Coca-Cola Enterprises, Inc., the world's largest bottling system. From 1985 to 1989 he also served as Chairman of Columbia Pictures, Inc., before it was acquired by Sony, Inc.

Keough is probably best known for his major role in promoting the infamous reformulation of Coca-Cola, "New Coke" in April, 1985. He was largely responsible for convincing Coca-Cola CEO Roberto Goizueta to bring back the original Coca-Cola less than three months later, amidst a firestorm of negative consumer backlash.

Keough was on the Boards of IAC/InterActiveCorp, Yankee Global Enterprises LLC, Berkshire Hathaway and The Coca-Cola Company, to which he was elected in February 2004. In addition, he served for many years as a member of the Boards of McDonald's Corporation, The Washington Post Company, H. J. Heinz Company, Convera Corporation and The Home Depot.

He was chairman emeritus of the Board of Trustees and a Life Trustee of the University of Notre Dame. He was also a trustee of several other educational, charitable and civic organizations.

Felix Lopez (businessman)

Félix M. López, Jr. (Havana, April 1, 1954) is a Cuban-born American sports executive.

Lopez moved to Tampa, Fla., in 1969 and later graduated from Cam Tech School of Construction.

He is the Executive Vice President/Chief International Officer for the New York Yankees. His current responsibilities include overseeing the daily operations of George M. Steinbrenner Field, the Himes Player Development Complex and the Single-A Tampa Yankees. He is also involved with the Yankees' Latin Baseball Academy in Boca Chica, Dominican Republic, as well as player development in Latin America. He also serves on the boards of Yankee Global Enterprises, LLC, and Legends Hospitality, LLC.

Under Mr. Lopez's supervision, the Yankees spring training home in Tampa, Fla., has undergone several structural enhancements and renovations, including the expansion of field box seating and the redesign of the Yankees' clubhouse facilities. Fan-friendly amenities have been at the forefront of Mr. Lopez's operational strategy, including the design of the Brighthouse Networks Dugout Club, located underneath the field box seats behind home plate. In addition, Mr. Lopez was instrumental in developing the new Tampa Tribune Deck, which was unveiled in 2008. Located beyond the right field wall, the unique and intimate structure features picnic-style seating the 500 people, private concessions and a full bar. In January 2010, Mr. Lopez headed a Yankees delegation that took the club's 2009 World Series trophy to the Dominican Republic. The visit included stops at the Presidential Palace, U.S. Embassy, National Police Headquarters and Santo Domingo's Quisqueya Stadium for a Dominican Winter League playoff game.

Before Joining the Yankees, Mr. Lopez was the president of Architecture Design & Construction, Inc., a company specializing in commercial construction in the Southeastern United States.

He is a member of the Grand Lodge of Free and Accepted Masons of Florida and Nobles of the Mystic Shrine of North America. He also serves on the board of the Gold Shield Foundation and contributes to the efforts of the Police Athletic League (PAL) Mr. Lopez is married to Jessica Steinbrenner and is the son-in-law to George M. Steinbrenner III. He has three children (Felix M. Lopez III, Jessica A. Lopez, and Vanessa L. Lopez) and resides in Tampa, Fla. with his wife and family.

Fox Sports Networks

Fox Sports Networks (FSN), formerly known as Fox Sports Net, is the collective name for a group of regional sports channels in the United States. Formed in 1996 by News Corporation, the group was acquired by The Walt Disney Company in March 2019 following its acquisition of 21st Century Fox. A condition of that acquisition imposed by the U.S. Department of Justice required Disney to sell FSN by June 18, 2019, 90 days after the completion of its acquisition. Disney subsequently agreed to sell the networks (excluding the YES Network, being reacquired by Yankee Global Enterprises) to Sinclair Broadcast Group.Each of the channels in the group carries regional broadcasts of sporting events from various professional, collegiate and high school sports teams (with broadcasts typically exclusive to each individual channel, although some are shown on multiple FSN channels within a particular team's designated market area), along with regional and national sports discussion, documentary and analysis programs.

Depending on their individual team rights, some Fox Sports Networks maintain overflow feeds available via digital cable, telco and satellite providers in their home markets, which may provide alternate programming when not used to carry game broadcasts that the main feed cannot carry due to scheduling conflicts. Fox Sports Networks is headquartered in Houston, Texas, with master control facilities based in both Houston and Los Angeles; FSN also maintains production facilities at Stage 19 at Universal Studios Florida (which formerly served as home of Nickelodeon Studios until its closure in 2005).

George M. Steinbrenner Field

George M. Steinbrenner Field (formerly known as Legends Field), is a baseball stadium located in Tampa, Florida across Dale Mabry Highway from Raymond James Stadium, home of the National Football League's Tampa Bay Buccaneers. The ballpark was built in 1996 and holds 11,026 people with an addition in right field built in 2007. This ballpark is the largest spring training ballpark in Florida.

George M. Steinbrenner Field serves as the home of the Tampa Tarpons, the New York Yankees' affiliate in the Class A Advanced Florida State League, and is the Yankees' spring training home.

Hal Steinbrenner

Harold Steinbrenner (born December 3, 1969) is principal owner, managing general partner, and co-chairman, of the New York Yankees. He and his brother Hank inherited the team from their father, George Steinbrenner, who died in 2010.

Jerry Speyer

Jerry I. Speyer (born June 23, 1940) is an American real estate developer. He is one of two founding partners of the New York real estate company Tishman Speyer, which controls the Rockefeller Center and the Chrysler Building.

Legends Hospitality

Legends, also known as Legends Hospitality and Legends Hospitality Management LLC is a food, beverage, merchandise retail and stadium operations corporation serving entertainment venues and companies. Formed in 2008, Legends is a joint venture of Yankee Global Enterprises and Jerry Jones of the Dallas Cowboys. Minority investors include Goldman Sachs and CIC Partners. Legends is headquartered at One World Trade Center in New York City.On October 20, 2008, Cowboys owner Jones and New York Yankees owner George Steinbrenner announced a joint business venture called Legends Hospitality Management LLC which would operate the concessions and merchandising sales at the AT&T Stadium in Arlington, Texas, and at the new Yankee Stadium in the Bronx, New York, along with the stadiums of the Yankees' minor league affiliates. Former Pizza Hut President Michael Rawlings runs the company. The company was also backed by Wall Street investment firm Goldman Sachs and Dallas private equity firm CIC Partners LP.Legends has since branched out to multiple venues across the world such as the One World Observatory in a 15-year, $875 million contract, Levi's Stadium, Indianapolis Motor Speedway and IndyCar, Banc of California Stadium, Nissan Stadium, Angel Stadium, Golden 1 Center, Los Angeles Stadium at Hollywood Park, Las Vegas Stadium, University of Southern California, Prudential Center, Notre Dame, the Rose Bowl, Oklahoma Sooners, Dallas Mavericks and numinous other professional and college venues and companies. The company is estimated to be worth around $750 million.It has in addition branched out in what it offers. Although Legends began as a concessions company it has since expanded to help teams build and operate stadiums. It also sells naming rights, tickets, and Personal seat licenses on behalf of teams.

List of New York Yankees owners and executives

The New York Yankees are a Major League Baseball (MLB) franchise based in The Bronx, New York City, New York. They play in the American League East division. This list consists of the owners, general managers (GMs) and other executives of the Yankees. The GM controls player transactions, hires the manager and coaching staff, and negotiates with players and agents regarding contracts.The longest-tenured general manager in team history is Ed Barrow, who served in that role for 23 years. He was inducted in the Baseball Hall of Fame in 1953. The longest-tenured owner in team history is George Steinbrenner, who was the team's principal owner from 1973 until his death in 2010.

Liverpool–Manchester rivalry

The Liverpool–Manchester rivalry is a rivalry that exists between the English cities of Manchester and Liverpool. The cities have many similarities and differences, which have intensified the rivalry, and both lie at the heart of North West England — the most populated region outside of the Greater London area in the United Kingdom.The rivalry is generally agreed to have ignited after the construction of the Manchester Ship Canal. Manchester merchants became disenchanted with the level of dues they had to pay to export and import their goods. Consequently the Mancunian merchants decided to construct a ship canal. The Ship Canal would become the largest in the world upon opening in January 1894 and highlighted the length the merchants were prepared to take to avoid paying dues.

New York City FC

New York City Football Club is an American professional soccer club based in New York City that competes in Major League Soccer (MLS), the highest level of American soccer, as a member of the league's Eastern Conference.

New York City began play in 2015, as the twentieth overall expansion team of the league. It is the first franchise to be based in the city, and the second in the New York metropolitan area, after New York Red Bulls, with whom they contest the Hudson River Derby. Since 2015, the club have played at Yankee Stadium in The Bronx.

Jason Kreis was appointed as the club's first coach, remaining for a single year prior to being replaced by Patrick Vieira. Vieira guided New York City to their first MLS Cup playoff appearance the following season, as well as a runner-up berth in the Supporters' Shield in 2017. Vieira's teams also set Major League Soccer records for the largest improvement in wins for a consecutive season.

Based on attendance from the 2016 regular season, New York City's fanbase is one of the largest in the league. In 2016, Forbes estimated the franchise was the third most valuable in MLS, worth over $285 million.

New York Yankees

The New York Yankees are an American professional baseball team based in the New York City borough of the Bronx. The Yankees compete in Major League Baseball (MLB) as a member club of the American League (AL) East division. They are one of two major league clubs based in New York City; the other club is the National League (NL)'s New York Mets. In the 1901 season, the club began play in the AL as the Baltimore Orioles (no relation to the modern Baltimore Orioles). Frank Farrell and Bill Devery purchased the franchise that had ceased operations and moved it to New York City, renaming the club the New York Highlanders. The Highlanders were officially renamed the Yankees in 1913.The team is owned by Yankee Global Enterprises, an LLC that is controlled by the family of the late George Steinbrenner, who purchased the team in 1973. Brian Cashman is the team's general manager, and Aaron Boone is the team's field manager. The team's home games were played at the original Yankee Stadium from 1923 to 1973 and from 1976 to 2008. In 1974 and 1975, the Yankees shared Shea Stadium with the Mets, in addition to the New York Jets, and New York Giants. In 2009, they moved into a new ballpark of the same name that was constructed next door to the previous facility, which was closed and demolished. The team is perennially among the leaders in MLB attendance.

The Yankees are arguably the most successful professional sports team in the United States; they have won 40 AL pennants, and 27 World Series championships, all of which are MLB records. The Yankees have won more titles than any other franchise in the four major North American sports leagues. Forty-four Yankees players and eleven Yankees managers have been inducted into the National Baseball Hall of Fame, including Babe Ruth, Lou Gehrig, Joe DiMaggio, Mickey Mantle, Yogi Berra, and Whitey Ford. In pursuit of winning championships, the franchise has used a large payroll to attract talent, particularly during the Steinbrenner era. According to Forbes, the Yankees are the second highest valued sports franchise in the United States and the fifth in the world, with an estimated value of approximately $4 billion. The Yankees have garnered enormous popularity and a dedicated fanbase, as well as widespread enmity from fans of other MLB teams. The team's rivalry with the Boston Red Sox is one of the most well-known rivalries in U.S. sports.

From 1903–2018, the Yankees' overall win-loss record is 10,275–7,781 (a .569 winning percentage).

Scranton/Wilkes-Barre RailRiders

The Scranton/Wilkes-Barre RailRiders are a professional Minor League Baseball team based in Moosic, Pennsylvania, in the Scranton/Wilkes-Barre area. The team plays in Northern Division of the International League (IL) and is the Triple-A affiliate of the New York Yankees of Major League Baseball. The team plays at PNC Field (formerly Lackawanna County Stadium), their home since 1989.

The team was known as the Scranton/Wilkes-Barre Red Barons from 1989 to 2006 and the Scranton/Wilkes-Barre Yankees from 2007 to 2012. They have won two Governors' Cup championships and one Triple-A National Championship.

Steve Swindal

Stephen Whitfield Swindal is an American businessman. He is the chairman of Port Tampa Bay. Swindal was a general partner of the New York Yankees of Major League Baseball from 1998 through 2007, and in 2005 had been chosen as George Steinbrenner's successor as head of the Yankees.

YES Network

The Yankee Entertainment and Sports Network (YES) is an American pay television regional sports network that is temporarily owned by The Walt Disney Company, with a minority stake by Yankee Global Enterprises until a sale to Sinclair Broadcast Group and The Blackstone Group becomes final in mid-2019. Primarily serving New York City, New York and the surrounding metropolitan area, it broadcasts a variety of sports events, as well as magazine, documentary and discussion programs; however, its main emphasis is focused on games and team-related programs involving the New York Yankees of Major League Baseball (owned by minority partner Yankee Global), the NBA's Brooklyn Nets, the WNBA's New York Liberty and New York City FC of Major League Soccer.

YES Network's offices are based at the Chrysler Building in Midtown Manhattan. YES programs, including Yankees and Nets pre- and post-game shows, are produced in studios that are located in Stamford, Connecticut. The channel is available on cable and IPTV providers in New York, New Jersey, Connecticut and parts of Pennsylvania; it is available nationally on some cable systems (as part of a designated sports tier), via satellite on DirecTV, and regionally on Frontier, AT&T U-verse, Verizon FiOS, and Cox Communications.

Franchise
Ballparks
Culture
Lore
Rivalries
Monument Park
honorees
Key personnel
Championships (27)
American League
Pennants (40)
Division titles (17)
Wild Card titles (7)
Minors

Languages

This page is based on a Wikipedia article written by authors (here).
Text is available under the CC BY-SA 3.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.