While the New York Yankees continue to struggle, Yankee Global Enterprises is doing just fine, thank you.
The New York Yankees have been nothing short of a horrific train wreck on the field the past few weeks as they try to avoid their first losing season since 1992. And while the Bronx Bombers are having their worst season in decades, parent company Yankee Global Enterprises has never been stronger and more diversified.
Not that it’s any consolation to Yankees fans.
While a George Steinbrenner-led group bought the Yankees from CBS back in 1973, the true genesis of Yankee Global Enterprises launched in 1999. A series of mergers and purchases of the New Jersey Nets and Devils led to the formation of overarching company, YankeeNets. Two years later, it formed the Yankees Entertainment & Sports television network after New York Knicks and Rangers owner Cablevision’s $600 million deal to purchase the Yankees fell through. While YES remained, the Nets and Devils were sold off by 2004, and YankeeNets rebranded to YGE, still owned and operated by heirs of the Steinbrenner family.
In addition to now owning the Yankees, YGE has stakes in YES, two successful soccer franchises, and a premier hospitality company that’s become a global sports institution.
Let’s take a closer look at the New York Yankees’ business portfolio.
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New York Yankees Business & Investments Overview
NOTE: This list is Boardroom’s curation of the most important Yankee Global Enterprises businesses and ventures and is not to be considered exhaustive.
New York Yankees
- Type: Major League Baseball team
- Role: Founder and owner
- Founded: 1903
- Fun fact: The Yankees have won 27 World Series championships and only have 17 losing seasons in 120 years. Forbes valued the Yankees earlier this year at $7.1 billion, up 18% from 2022, making them the most valuable MLB franchise.
Yankees Entertainment & Sports Network
- Type: Regional sports network
- Role: Founder and stakeholder
- Founded: 2002
- Fun fact: Though a series of mergers and acquisitions diluted the Yankees’ stake in the network that broadcasts the Yanks, Nets, New York City Football Club, and college sports, YGE still owns a 26% plurality in the company.
Legends Hospitality
- Type: Production Company
- Role: Co-founder
- Founded: 2008
- Fun fact: YGE holds a 33% stake in the company it co-founded with the Dallas Cowboys and Sixth Street Partners, which operates in food, beverage, merchandise, retail, and stadium operations. It has contracts around the world, including with NYC’s One World Observatory, SoFi Stadium, the Rose Bowl, Manchester City‘s Etihad Stadium, and the Indianapolis Motor Speedway.
New York City Football Club
- Type: Major League Soccer team
- Role: Co-founder
- Founded: 2010
- Fun fact: The Yankees own 20% of the Manchester City-controlled club and have hosted a majority of the home matches for the 2021 MLS Cup champions. A new soccer-specific stadium in Queens is expected to be completed in 2027.
A.C. Milan
- Type: Italian soccer club
- Role: Minority stakeholder
- Founded: 1899
- Fun fact: Through RedBird Capital Partners, the Yankees bought a 10% stake in the European soccer giant that’s won 19 Serie A titles and seven UEFA Champions League trophies.
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