Yankees Ask $1Billion in Broadcasting Rights

If MSG Network balks, Yankees could start their own broadcast entity

New York, September 12, 2000 -- YankeeNets, the entity which now owns the New York Yankees,   made a new offer to MSG Network, the current broadcast rightsholder, in order to break a legal deadlock. The YankeeNets asked MSG to pay approximately $1 billion for the broadcast rights to Yankee games for the next decade and a YankeeNets official stated they would then drop their plans for a new cable network to broadcast the games "in house."

MSG has a right of first refusal to any new officer. If MSG balks at the offer, plans will be underway to set up their own cable network. There has been speculation of a lawsuit by MSG [click here]. According to the New York Times, most TV executives who are close to the negotiations believe a mutual agreement will be reached for the new network within the month. If the deal is finalized, MSG would pay a staggering $1.4 billion over the next 10 years to keep the Yanks. This figure would become the highest figure ever paid for any sport's team rights and is three times the $486 million MSG paid the first time around.

                                                                                                                        Brad Berfas

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