Yankee Global Enterprises

Yankee Global Enterprises, LLC, formerly YankeeNets, LLC, is an American limited liability company that owns the New York Yankees baseball team and holds stakes in YES Network, New York City FC, and AC Milan soccer clubs. The company was formed in 1999 through a merger between the Yankees and the New Jersey Nets (now Brooklyn Nets) to enhance negotiating power for television contracts and stadium deals.

In 1998, the Yankees had a highly successful season but failed to reach a sale agreement with Cablevision due to management conflicts. This led to the merger, which allowed both teams to maintain control while gaining minority stakes in each other. The company faced challenges, including ownership clashes over team management and financial decisions, such as purchasing the New Jersey Devils.

In 2004, after the Nets were sold, the company renamed itself Yankee Global Enterprises, retaining ownership of the Yankees and YES Network. Hal Steinbrenner succeeded Steve Swindal as chairman in 2007 following a family restructuring. The company expanded into new ventures, including a stake in Legends Hospitality Management and repurchasing a majority stake in YES Network by 2019.

In recent years, Yankee Global Enterprises acquired minority stakes in AC Milan and New York City FC, diversifying its sports investments while maintaining its core ownership of the Yankees.