The New York Yankees are said to be considering buying back control of YES Network, after selling off their majority shares in the company starting back in 2012. The New York Post cites sources saying the team is contemplating a buyback.
“The Yankees currently own 20 percent of the network they founded in 2001. The 80 percent owned by 21st Century Fox is currently part of a multi-billion-dollar deal that is being competed for by Fox and Comcast,” The Post reports.
“When the Yankees started the process of selling their majority shares in 2012 at a valuation of nearly $4 billion, the team’s top executives negotiated the right to buy back all 80 percent if YES were ever part of another sale,” the story reports. “The Yankees initially sold 49 percent of the network in 2012 before it was upped to a full 80 percent in 2014.”
The report adds: “Though YES is valued in the billions, if a transaction were completed with the Yankees, it is not expected to severely affect whether Disney or Comcast completes a deal with 21st Century Fox for many of its top assets. Instead, it would just change the overall price.”