Many sports fans are familiar with the relationship between the Yankees and its television network, the Yankees Entertainment and Sports network, or YES for short. In fact, many of the newer generation of sports owner dreams of one day operating his or her own media outlet. This is mainly an economic exercise in that a media outlet enables them to more fully capitalize off of the value of their sports franchise, while creating new revenue streams in the form of media advertising dollars.
The Yankees have used their media outlet – and the fact that they are in the largest media market – to generate a significant amount of revenue that they can invest back into the sports franchise, in the form of player and coaches salaries for example. It is also important to note that Major League Baseball does not have the same hard salary cap as the other major sports, and teams like the Yankees can spend more than other teams. But I digress.