The End of the Yankee Empire?
August 2, 2007 by dwil
YES Network is for sale. Yes, that YES Network. According to Jon Birger and Tim Arango of Fortune magazine, the New York Yankees personal sports network can be purchased for a whopping $3-$3.5 billion, twice the projected Yankee team worth:
The New York Yankees’ cable network, the YES Network, is for sale, Fortune has learned. And some baseball insiders and Yankees limited partners are wondering whether the team itself might be next.
The highest-rated regional sports network in the country and the cable home of the Yankees and the NBA New Jersey Nets, YES is jointly owned by the Yankees, investment bank Goldman Sachs & Co. and former Nets owner Ray Chambers. Goldman and Chambers would like to cash out, YES and Yankees insiders say, and one source says to expect a deal by summer’s end. Some possible bidders: Cablevision, Comcast, News Corp., and Verizon .
Publicly, Yankees and YES officials are noncommittal. “Absolutely not,” Yankees president Randy Levine replies when asked whether YES is for sale – though not before acknowledging some “testing of the market.” Gerry Cardinale, a Goldman managing director and YES board member, is more forthcoming, conceding that YES is in fact being shopped. “We’re testing the waters with a limited universe of quality buyers,” says Cardinale. “We would consider selling only if we receive a full and fair price.”
And what might a “full and fair” price be? Try a cool $3 billion to $3.5 billion. At that price, one could argue that the true gem of the Yankees business empire isn’t the team itself but YES.
(Just after the Fortune magazine posted the article, ESPN’s Mike Greenberg of Mike and Mike in the Morning provided the sports world with the initial report of the news.)
No question that the network is more valuable than the team. The whole is greater than the sum of its parts, as well. Nonetheless, the team is the anchor for the network and the cornerstone of any profitability determination. If the Yankees were to become the Devil Rays, cut payroll to about $80 million and reside in the dungeon of their division for about a decade, the network might be worth little more than the cost of wiring.
The consolidation of capital and media outlets is problematic. Colin Powell’s satan-spawn, Michael presided over much of this consolidation during his tenure at the FCC. The more corporations consume diverse media outlets, the less variability of opinion will be possible. At this juncture, the tipping point has been eclipsed. Consider that just yesterday Rupert Murdoch (News Corp.) was granted Bancroft family approval to purchase the Wall Street Journal.
I will be interested to hear what type of deal structure Goldman is willing to accept on this deal. Even firms like those bidders won’t part with that kind of money without some significant leveraging and risk reduction caveats. Cue Financial Times.
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By the way…if you’ve seen ESPN’s piece on the Hall of Fame potential of current NFL players, I’m disgusted…that’s it. They are atrocious. One poster noted that they used to hire writers like Ralph Wiley and Hunter Thompson for Page 2, but now they’ve become “The Best Damned Website, Period.” See for yourself.
http://sports.espn.go.com/espn/page2/story?page=halloffame/nfl1-10
T3 I read it. Funny how they have McNair and McNabb on the outside looking in but have already “cantonized” Leinart and Young
Yeah, I guess 4 straight trips to the NFC Finals, despite limited running backs and receivers in his time, isn’t enough to get McNabb into the HOF, huh? The most underrated quarterback in the league for the past 10 years.
T3, that Murdoch deal is alarming on so many levels. There is no way that deal happens if there wasn’t a Republican president in the office; even worse, it may lead to another Republican president…
If the Democrats win the election next year, the first thing they should do is go hard after Murdoch’s empire, and try to dismantle it a bit.
I don’t believe Leinhart should be on the list, but McNair and McNabb have some work to do.
McNabb has had, statistically, one great season. He’s had a couple of good seasons, a couple of injury riddled seasons and he has no rings. From where I’m sitting, he needs about five seasons of 60%+ completions, 3500 yards, 2.5:1 TD:Int ratio and some deep playoff runs. McNabb has played for good teams, but his numbers aren’t sexy to me. He needs a power runner who can free up his play action game – and they need to continue to stretch the field (shoulda kept Donte).
McNair is borderline too. He did get to a Super Bowl, but he lost. He was a Co-MVP – ONCE. That’s not enough. He doesn’t have stats that jump off the page. He is/was a gamer. That’s not enough. If he had the same numbers and two rings, I say he was in. He’s 28th all-time in yards, but has never thrown for 3500 in a season. He’s never thrown 25 TDs. He has 30,000 yards. The only guy with more passing yards who I “know” is not getting in is Kerry Collins – and he 4,000 MORE passing yards. I don’t even think Bledsoe or Testaverde should get in – and they have 14,000 more yards.
I have no faith in the Dismalcraps. I would be tempted to argue that they have a vested interest in taking Murdoch down, but they’ve run two of the most disinterested presidential campaigns I can recall. Neither Gore nor Kerry had any true interest in the position. If I had campaigned for them, I would have whipped their asses after the elections. The Democrats did their part to lie down for the Republicans in conceding these last two elections. They’ve allowed W to be a heavy for a resource war they all support…they’ve even allowed W to open the door for a new resource war to be fought without provocation (on deck, Iran). The Republicans are returning the favor with Romney, Rudy and Rut-Ro (George Jetson’s dog of a field). Hillary gets two terms and she quietly oversees the deployment of smaller strategic forces in Iran and Africa (Sudan, Nigeria, Somalia, etc.) while restoring a few social programs…then, in 2016 some Republican to be named later inflames tensions by talking about the nation has become soft from 8 years of Democratic Party leadership and needs a new war to curb the influence of China and so on and so on…
The YES issue is something that Bloomberg should want to engage in – for any number of reasons.
T3 McNabb has the second best winning percentage of his era. He also has 4 straight NFC Championship Games to his credit. Name one receiver of record during that stretch besides Terrell Owens. Yes, he’s played with some nice defenses, but he’s been been successful even though he’s been the offensive focus.
Straight up my opinion, but if McNabb were white, we wouldn’t be having this discussion because the media would have settled it for us.
Out of pocket QBs have to be considered for the change the game dynamic they possess. The years that McNabb had Owens and Cunningham had Moss are the only seasons where a Black QB has had a great receiver to throw to–check the results (Doug wasn’t the starter the entire season). DNabb went to the SB and Cunningham was NFL POY in a season Vikings points scored are still the highest ever. Damn you Gary Anderson for missing a chip shot field goal in a year where you didn’t miss another. Randall’s legacy lay in the balance.
As far as McNair, I will agree that his numbers aren’t spectacular(system?)but dude has some sick comeback wins and has been involved in some memorable playoff games. You are correct that he will (might?) need a SB ring.
It seems like QBs like these mentioned are facing more than their opposition when it comes to post career accolades. The majority of these players are warriors leading unbalanced teams alone.
If the Titans are smart they will lock of the services of a great young receiver now or we’ll be having this same discussion about Vince while Leinart skates in.
Gentleman,
Here is a breakdown of Steve Young, Troy Aikman, Joe
Namath, McNabb, and McNair.
Completion percentage: Young 64.3%, Aikman 61.3%, McNair 59.9%,
McNabb 58.2%, Namath 50.1%
Touchdowns: Young 232, Namath 173, McNair 172, Aikman 165,
McNabb 152
Interceptions: Namath 220, Aikman 141, McNair 114, Young 107,
McNabb 72
Conclusion: If Namath is in the HOF, McNair and McNabb should
be locks.
M-to the Mizzo:
McNabb’s winning percentage is not going to get him in the Hall any more than it will get Brad Johnson in the HOF. According to the NFLPA, Johnson has the 2nd highest winning percentage – and he has a ring and he’s definitely not a legit HOF candidate. 4 straight NFC championship games – big deal. That’s not gonna get you in especially when you played with guys like Brian Dawkins (he’s going), Troy Vincent and Big Bobby on the other corner, J-Trot in the middle, etc. I believe the Eagles have had terrible receivers, but they are not alone in that capacity. I thought he was excellent (for the most part) in that Super Bowl – except for the Red Zone – damn! I believe the greatest weakness has been the finesse running game and the play calling. The receivers would be better in the context of a more powerful running game. Their respective weaknesses wouldn’t be so obvious. Tom Brady has always been able to hand the ball off to a heavy pile mover – even if it was just to get two or three tough yards. McNabb has never had that – and it shows. If he wants to get to Canton, he better speak the phuck up and get Laurie/Reid and company to see the light. Sheeeet, you think Brett Favruh and ‘nem ud have a ring without Edgar Bennett and ‘nem handlin’ thangs down low. Andy Reid better recognize and stop trying to play genius boy with wittle bwyan westbwook.
“The years that McNabb had Owens and Cunningham had Moss are the only seasons where a Black QB has had a great receiver to throw to–check the results (Doug wasn’t the starter the entire season).”
Hold up, wait a minute.
With respect to other Black Qbs having folks to throw the rock to, I would assert that Warren Moon’s cupboard was usually full. The same goes for Daunte Culpepper. DC’s numbers are stratospheric compared to McNabb’s. He played with Moss and Cris Carter. Daunte threw for 39-11 and 4700 with Moss for half a season. He has three years which eclipse or parallel McNabb’s best seasons. He’s had good to excellent receivers most of that time. Remember Jeff Blake? He had Carl Pickens and Darnay Scott and he went off for two years: 3800, 28 and 17; then 3600, 24 and 14…and then the Bengals decided to be the Bengals – and that was that. McNabb doesn’t even run that much – so I’m not cutting him any “out-of-pocket” slack because that’s not his game – according to him.
That Vikings loss killed me too. Like Slick Rick, “I try to block it out my mind…”
Des, thanks.
I did forget to mention that McNabb’s TD/INT ratio is one of the best of all time in a system where he throws the ball more than handing it off to a back.
200 TDs is the benchmark. We’ll see what happens when they both get there.
Namath played in New York and he guaranteed a Super Bowl win over a dynasty led by Johnny Unitas. I don’t see it for either dude yet. Steve Young shouldn’t even be in that batch of QB’s. His career was abbreviated by sitting behind Montana…he benefited from inheriting a well-oiled machine and his QB Ratings are absurd. Those other QBs tend to have lower ratings because of lower completion percentages and higher pick rates. I definitely think Aikman was an overrated so-and-so, but he has 3 rings.
My point on D-Mc is not he does not merit entry, but that his numbers (right now) don’t suggeest he’s in. He can’t retire tomorrow and get in. He has to stay healthy and produce along the lines of what he did in 2004. A few more of those and it’s a wrap, with or without an SB.
T3. I was speaking in the context of HOF comparisons QB. Bubble QBs if you will.
Culpepper could enter in this discussion if it weren’t for his abysmal winning percentage which is under .500.
It’s a shame, but Andy Reid might get in while DNabb waits and waits.
Reid’s play calling has sucked during critical moments and his time management also has left something to be desired.
There are many pundits that say that Moon does not deserve his spot in Canton even though his numbers are top 3 and if it weren’t for his 6 year CFL stint, he would be the top statistical QB of all time–and it wouldn’t even be close.
Moon unfortunately is Donovan’s standard and his numbers just won’t stack up.
Moon’s release allowed him to post some sick numbers, but again, his front office didn’t give a damn about putting a total package together. It seems that owners rather watch these cats run around instead of winning the big one. Elway was lucky that TD sacrificed his legs or he wouldn’t have won ish either.
T3,
I agree with you on McNabb. I used Namath because i consider
him to be the cutoff point if you’re looking at numbers. Even
in the Jets Super Bowl season, he had more INT’s than TD’s.
Let me go straight to “Alleged-ville” for a moment; do you think this has anything to do with Steinbrenner’s health? And that if the sale gets done before he dies, there are tax advantages in the way it can be passed on to his heirs? Or, it’s clear that none of his kids want to run the team, and so they’re pushing for him to sell it? Sorry for sounding cynical about this, but I just have to wonder.
Warren Moon is one of the top 5 or 10 Qb’s of the modern era. The 2nd best to never win a championship in my opinion. There ca be no doubt that he deserves his enshrinement.
Why don’t people realize that D. Williams played in more than just a SB? He was a 1st round draft pick by Joe Gibbs while Gibbs was OC in TB in ’78. He is not HOF worthy, but he did start the following year (although not the entire year) and played many games with Monk, Clark and Sanders. 21 in Washington to be exact.
McNabb does not look HOF worthy to me, but I could be massively biased as I am a fan of the Skins. But looking at the people that are in, other than Moon, Kelly and Young who else from the modern era is in without a ring (Marino obviously exluded)? If McNabb keeps his pace up and can stay healthy and in Philly for three years I would say he’s worthy. McNair is just not THAT good of a QB. I like him, he’s great for his teams but he is not Canton.
Leinart being in on ESPN is such a joke that they should be ashamed of the stupidity of the entire idea.
Young has a ring. ’94 demolition of the Chargers.
Fouts got in without a ring. Maybe that’s not quite modern enough?
Namath is kind of an outlier, he got in more on rep, plus the game back then was to run the ball and throw it deep, it’s really not fair to compare him to Steve Young.
Ken Stabler should also be in, it’s crazy he’s not.
McNabb needs to get a ring, preferably 2 and have 4-5 more very good to great seasons.
It’s not happening for McNair, just like I don’t think it’s happening for Bledsoe and Testaverde. (maybe by the Veterans in 20-30 years.)
With the way the passing game is now, we will see alot more guys going up the career yardage board and there will be a come to jesus type situation in the deliberation room like there already has been w/ the wide receivers.
Moon – Kelly – Fouts – Tarkenton…that’s the short list. No rings. That’s a high ass bar.
“Leinart being in on ESPN is such a joke that they should be ashamed of the stupidity of the entire idea.” – AMEN!!!
T3,
Marino-no ring.
Oh yeah…Marino. I remember him.
Looking at McNabb’s yards/TD’s (22,080 yds, 152 TD’s) he’s over half the way on yards and td’s as Moon (49,325 yds, 291 TD’s), Kelly (35,467 yds, 237 TD’s), and Fouts (43,040 yds, 254 TD’s). I won’t compare him to Marino or Tarkenton (different era then Tarkenton and no one should be compared to Marino except Peyton right now).
Here’s the kicker on McNabb: if he isn’t healthy throughout this season and Kolb shows promise in practice then it’s hard to imagine Philly sticking with hs. When compared to Bledsoe (44,611 yds, 251 TD’s) he doesn’t come very close at the moment. The question is, will he be allowed to play or will his body stick up long enough to make up the stats and possibly win a SB?im. He’s got a lot of ground to cover in an era that isn’t as forgiving to QB’s as it once was.
I just don’t see him passing 40,000 yards with 8 years of heavy wear and tear under his belt and the Eagles showing less and less support for him.
Disclaimer: I know yards and TD’s aren’t everything, but minus a couple rings it is where the conversation starts in the selction room.
His stats by year a pretty similar to Kelly, and I think Kelly got in for the 4 SB appearances over his stats, personally
Just my $.02
Moon belongs on the short list of greatest QB’s of the modern era alongside Montana, Young, Marino, Manning. Aikman. I honestly don’t know how you separate those dudes.
KevDog,
I couldn’t agree more. Although I’m not positive I would say Aikman should be on that list. Especially since you leave out Brady.
Cornelius
True Dat. Brady belongs.
I would not put Aikman on the list either. Its funny that my memory of him would suggest much better numbers. That line was the best I’ve ever seen. I didn’t love Emmitt. Irvin was very good, especially in the red zone – but that line was AWESOME. My grandmother could have played behind those guys and made the Pro Bowl.
I would also say that Dan Fouts was every bit as good as Marino.
I wonder if Steve Young owes his HOF induction to Deion Sanders?
Brotha Temple 3 Steve Concussion young owes that HOF induction to Jerry Fing Rice…………Also Troy och I hurt my head…..owes his HOF induction to Smith Irvin and that Line……..Aikman was overated as he11. You could have put jim haughbaugh (sp?) behind that line and won a superbowl. Even my bears crappy QB Rex grossman could have won a superbowl with that OL. If you don’t believe me, look at how everytime that Aikman went down the cowboys (during their championship run) could plug a crappy QB behind that line and not miss a beat.
This was a fun discussion.
Aikman definitely on the outside looking in. I will however say that he has surprised me as a commentator.
Cornelius, except when he plays my Eagles.
No love for a Cowboy.
lol What I meant to say is…When my Eagles are playing. Where’s my beer…
I just realized that Favre is getting shafted as well. He has a lot of backlash at the moment for all the media love he gets, but the guy could end up with the TD record, 2 MVP’s, and a ring. In his prime he was the best in the game.
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Mizzo,
Strangely, he’s not so bad when announcing Skins games. Always seems like he holds no grudges or biases. Almost seems to like them.