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Encyclopedia > Yankee Global Enterprises LLC
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Yankee Global Enterprises LLC (Yankee Global) was formed in 1999, and is the owner of the New York Yankees baseball club and the YES Network cable channel. It was orginally created through a merger between the Yankees and the New Jersey Nets basketball team, known at the time as YankeeNets. Jump to: navigation, search The New York Yankees are a Major League baseball team based in The Bronx, New York City. ... Picture of Fenway Park. ... Jump to: navigation, search YES Network ID, 2002. ... The New Jersey Nets are a National Basketball Association team based in East Rutherford, New Jersey. ...

Contents


Prior to YankeeNets

In 1998, the Yankees had their most successful season in modern history, winning 125 games and the World Series. The team was in discussions to be sold to Cablevision, who at the time owned the broadcast rights to every MLB, NBA and NHL team in the New York City Metropolitan area. The proposed deal fell through because the two sides could not agree on an agreement that would include current owner George Steinbrenner continuing to run the team for the new owners. Jump to: navigation, search The World Series is the championship series of Major League Baseball in the United States and Canada, the culmination of the sports postseason each October. ... Cablevision Systems Corporation NYSE: CVC is a cable television company that serves parts of the Northeast of the United States, with most customers residing in New York, New Jersey and Connecticut. ... Major League Baseball (MLB) is the highest level of play in professional baseball in North America. ... The National Basketball Association of the United States and Canada, commonly known as the NBA, is the premier professional basketball league in North America. ... NHL can also be an abbreviation for National Historic Landmark or Non-Hodgkins lymphoma. ... Jump to: navigation, search George Michael Steinbrenner III (born July 4, 1930 in Rocky River, Ohio), often known as The Boss, is the principal owner of the New York Yankees. ...


Merger with the Nets

After the proposed sale of the New York Yankees to Cablevision fell through, the Yankees and Nets 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 pre-merger owners would continue to control their teams, with a minority interest in the other team. This arrangement was appoved by both Major League Baseball and the NBA. Jump to: navigation, search The New York Yankees are a Major League baseball team based in The Bronx, New York City. ...


Marketing Agreements

YankeeNets engaged in marketing agreements with the New York Giants football team and the British football powerhouse Manchester United. Jump to: navigation, search Conference NFC Division East Year Founded 1925 Home Field Giants Stadium City East Rutherford, New Jersey Team Colors Royal Blue, Red, Gray, and White Head Coach Tom Coughlin League Championships (6) NFL Champions: 1927, 1934, 1938, 1956 Super Bowl: 1986 (XXI), 1990 (XXV) Conference Championships (9... Manchester Uniteds emblem Manchester United F.C. (often abbreviated to Man United or just Man U, pronounced man-yoo) is an English football club based at Old Trafford in Greater Manchester. ...


Acquisition of the Devils

YankeeNets created an affiliate, Puck Holdings, which purchased the New Jersey Devils hockey team, to have relationships in all major league professional sports, and to give better leverage to the Nets in constructing a new arena in Newark, New Jersey. Jump to: navigation, search The New Jersey Devils (NJD) are a National Hockey League team based in the Continental Airlines Arena of the Meadowlands Sports Complex in East Rutherford, New Jersey. ...


Broadcast Negotiations

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, or creating a new network with them. Cablevision offered to pair both teams on their Fox Sports Net New York affiliate. They also spoke to other cable compaines, including Time Warner about launching a new network with them. In the end, YankeeNets decided to pair with financial company Goldman Sachs to launch their own regional sports network. The YES Network launched in March 2002, in preparation of the upcoming baseball season. Cablevision Systems Corporation NYSE: CVC is a cable television company that serves parts of the Northeast of the United States, with most customers residing in New York, New Jersey and Connecticut. ... Cablevision Systems Corporation NYSE: CVC is a cable television company that serves parts of the Northeast of the United States, with most customers residing in New York, New Jersey and Connecticut. ... The Fox Sports Regional Networks, or simply Fox Sports Net, are cable TV networks that were originally owned by separate companies. ... Time Warner Inc. ... Jump to: navigation, search The Goldman Sachs Group, Inc. ... Jump to: navigation, search YES Network ID, 2002. ...


The Breakup of YankeeNets

In 2003, reports leaked that the Yankees and Nets sides of the organization were in disagreement with each other. The Yankee ownership did not want any part in paying for an arena for the Nets and Devils, as the teams were money losers. This led to the Nets being sold to Bruce Ratner, who intends to move the team to Brooklyn and the Devils being sold to businessman Jeffrey Vanderbeek, who has agreed to move the franchise to a new arena in Newark, that was originally proposed by the previous Nets ownership. Since the breakup, the Devils extended their television contract with Cablevsion, ending the speculation that they would move to YES once their initial contract expired after the 2006-07 hockey season. Bruce Ratner is president and CEO of Forest City Ratner, New York Citys most active developer during the 1990s. ...


Name change

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 entites owned by the same company.


See also

Jump to: navigation, search YES Network ID, 2002. ... Jump to: navigation, search The New York Yankees are a Major League baseball team based in The Bronx, New York City. ... The New Jersey Nets are a National Basketball Association team based in East Rutherford, New Jersey. ...

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