NEW YORK (AP) -Goldman Sachs Group is exploring the worth of its stake in the New York Yankees' YES Network and would consider a sale if it receives the right offer.
The Yankees formed YES in 2001 and launched the network the following year. Yankee Global Enterprises, the team's parent company, owns about 35 percent of the network, with the remainder controlled by Goldman and Providence Equity Partners, and an investment group headed by former New Jersey Nets owner Ray Chambers.
``We've owned the network for the past six years. All we're doing is getting a current view from the marketplace on the network's value,'' Goldman Sachs spokesman Peter Rose said Thursday. ``From Goldman Sachs' perspective, we have made no decision to sell. If we got an offer that in our view reflected the premium value of the network, we would consider it.''
The Yankees currently plan to keep their stake and say they must approve any incoming partners to the network.
``The YES Network is not for sale,'' Yankees president Randy Levine said.
Goldman Sachs' decision was first reported Thursday by Fortune on its Web site.
YES is estimated to be worth about $3 billion. The New York Mets launched a similar network last year, SportsNet New York, with members of the team's ownership partnering with Time Warner and Comcast.
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