Yankee Global Enterprises LLC

Yankee Global Enterprises is an American company which owns the New York Yankees baseball team, along with 20% stakes 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 Keogh, Donald Marron and Jerry Speyer own minority stakes.

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

In 1998, the 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 MLB, NBA and NHL team in the New York City Metropolitan area. 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 for the new owners.

After the proposed sale 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 approved by both Major League Baseball and the NBA.

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