SNY exploring potential sale with all options on table
Join Post Sports+ for exciting subscriber-only features, including real-time texting with Mike Puma about the inside buzz on the Mets. Try it free
The broadcast home of the Mets is in the very early stages of a possible sale.
SNY is exploring potential deals, including an outright sale, a source familiar with the situation confirmed.
The Wall Street Journal first reported the development Tuesday.
The network has hired bankers at Moelis & Co., a global investment bank, to begin the process of soliciting interest from potential investors.
SNY Mets broadcast team, from left, Ron Darling, Gary Cohen, Keith Hernandez.
There will be a 'wide net cast,' the source said, in finding potential buyers, and the belief is there will be a 'robust amount of interest,' the source added, from financial and strategic investors, including team owners, regional sports network owners and media companies.
It is possible and perhaps likely that one of those team owners will be Steve Cohen.
SNY is controlled by the Wilpon and Katz families, who retained the network even as they sold the Mets to the billionaire Cohen for about $2.4 billion in November 2020.
SNY's new studios at 4 World Trade Center.
Dominick Totino
CHECK OUT THE LATEST MLB STANDINGS AND METS STATS
The network covers the Jets and other New York-area sports as well, but it is not a coincidence that a sale is being explored now — amid an excellent start for the first-place Mets and after an inspiring offseason that included landing Juan Soto for a record $765 million.
'It's opportunistic,' the source said of the timing of a potential sale of a rare RSN that is doing well.
SNY, which is available to TV providers in New York, Connecticut and parts of New Jersey and Pennsylvania, has a partnership with the Mets that runs through 2035.
The Mets are popular, as are the network's broadcasters — Gary Cohen, Keith Hernandez and Ron Darling — who are beloved by fans.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
18 minutes ago
- Yahoo
Apollo Commercial Real Estate Finance Inc (ARI) Q2 2025 Earnings Call Highlights: Strong Loan ...
Distributable Earnings: $36 million or $0.26 per share for the second quarter. GAAP Net Income: $18 million or $0.12 per diluted share. Loan Portfolio Carrying Value: $8.6 billion, up from $7.7 billion in Q1. Weighted Average Unlevered Yield: 7.8%. New Loan Originations: $1.4 billion in commitments for the quarter. Add-on Fundings: $394 million for previously closed loans. Repayments and Sales: $631 million during the quarter. General CECL Allowance Increase: $3.1 million. Total Liquidity: $208 million at quarter end. Book Value Per Share: $12.59, excluding general CECL allowance and depreciation. Warning! GuruFocus has detected 9 Warning Signs with ARI. Release Date: July 30, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Apollo Commercial Real Estate Finance Inc (NYSE:ARI) delivered strong performance in Q2 2025, with significant progress in loan originations, portfolio management, and balance sheet optimization. ARI committed to $1.4 billion in new loans during the quarter, with year-to-date commitments reaching $2 billion, showcasing robust capital redeployment. The company benefits from Apollo's real estate credit platform, allowing access to a diverse transaction flow and eliminating cash drag. Approximately 2/3 of residential loans in ARI's portfolio have been originated in the past 24 months, benefiting from a valuation reset and enhanced credit quality. ARI successfully refinanced its Term Loan B facilities, extending corporate debt maturity to June 2029, highlighting market confidence in the company. Negative Points The carrying value of ARI's portfolio increased by 12% from the prior quarter, but the book value per share decreased slightly to $12.59. Despite progress, some assets like the Brook are still non-earning, with plans to monetize them not expected until early next year. The general CECL allowance increased by $3.1 million due to portfolio growth, indicating potential risk exposure. Leverage remains around 4 times, with significant non-earning assets, raising concerns about future leverage management. The office sector remains challenging, with ARI avoiding new office deals due to market conditions and portfolio concentration concerns. Q & A Highlights Q: How is the progress at the Brook, and what is the timeline for generating cash flow and potentially moving on from the asset? A: The Brook is a 500-plus unit development, with 70% market rate and 30% affordable units. Leasing has started on the market rate side, and the asset is expected to become cash flow positive early next year. A decision on whether to sell outright or bring in a partner is anticipated between the first and second quarter of next year. The ultimate plan is to monetize and move on. - Stuart Rothstein, CEO Q: Can you provide more details on the potential upside from the land parcels associated with the Brook? A: There is a small parcel referred to as the Western parcel, and discussions are ongoing about acquiring air rights or the assets outright to increase density. If successful, this could provide upside for ARI shareholders, but it is too early to predict the outcome. - Stuart Rothstein, CEO Q: What are your expectations for the commercial real estate transaction market through the end of the year, and how does it affect ARI's plans? A: Activity has picked up, and there is more capital and deal flow. We are confident in finding opportunities that fit ARI's goals. The market is expected to remain robust, providing enough opportunities for ARI to achieve its objectives. - Stuart Rothstein, CEO Q: How are you approaching the current cross currents in the commercial real estate market, and where do you see the best opportunities? A: We remain constructive on all forms of housing, including senior housing and student housing. We are cautious with office deals and focus on opportunities in the UK, Europe, and the US. We avoid ground-up development except for long-term lease data centers. - Scott Weiner, CIO Q: Is there any expectation for changes in the dividend policy, and what factors could prevent a dividend increase? A: There are no material tax protections against rising earnings, and the goal is to distribute as much of the earnings as possible as dividends. The policy is reviewed quarterly, and the aim is to maintain stability without frequent special dividends. - Stuart Rothstein, CEO For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Washington Post
an hour ago
- Washington Post
Yankees tie it 3 times in late innings before finally beating Rays 5-4 in 11
NEW YORK — Ryan McMahon drove in the winning run in the 11th inning with a single to deep center field, and the New York Yankees edged the Tampa Bay Rays 5-4 on Wednesday night in a back-and-forth finish. Trent Grisham hit a tying homer in the eighth, Anthony Volpe did the same in the ninth and Cody Bellinger evened the score again for the Yankees with an RBI triple in the 10th. Moments later, New York took advantage of a critical balk by reliever Kevin Kelly (0-3) to remain four games behind first-place Toronto in the AL East. Grisham's leadoff homer in the eighth and Giancarlo Stanton's run-scoring single off Bryan Baker gave the Yankees a 2-1 lead. Josh Lowe put Tampa Bay back in front with a two-run homer off closer Devin Williams in the ninth, but Volpe went deep against Pete Fairbanks with one out in the bottom half. Jonathan Aranda hit a bases-loaded sacrifice fly against Luke Weaver in the 10th to put the Rays ahead 4-3 — but Jasson Domínguez made a terrific leaping catch at the left-field wall to prevent additional damage on the play. Bellinger tied it with his triple to right-center off Edwin Uceta in the bottom half. Kelly's balk advanced runners to second and third with nobody out in the 11th, forcing the Rays to play their outfield shallow. McMahon, acquired last week from Colorado , hit a long fly to center that landed just shy of the warning track. Tim Hill (4-3) worked a scoreless inning for the win, aided by McMahon's leaping grab at third base to snag Lowe's leadoff line drive. Brandon Lowe doubled home a third-inning run for the Rays in his return from the injured list . Volpe hit his sixth homer in 12 games but committed his third throwing error in two nights at shortstop. He leads the majors with 16 errors. The Rays (54-55) dropped below .500 for the first time since May 24. They have lost eight of 10 and are a major league-worst 8-20 since June 27 following an MLB-best 25-9 stretch. ... Grisham set a career high with his 18th home run. Rays RHP Ryan Pepiot (6-8, 3.42 ERA) faces RHP Marcus Stroman (2-2, 6.09) in the finale of the four-game series Thursday afternoon. ___ AP MLB:
Yahoo
an hour ago
- Yahoo
How to watch Phillies' great Dick Allen's induction into MLB Hall of Fame this weekend
The legendary Dick Allen played for the Philadelphia Phillies for nine seasons during two tenures with the team, but Allen's family had to wait quite a while longer to receive confirmation the beloved player has finally made the Major League Baseball Hall of Fame. Prior Hall of Fame rejections have been hurtful and numbing for the Allen family. Allen joins a five-member 2025 MLB Hall of Fame class that includes Dave Parker, CC Sabathia, Ichiro Suzuki and Billy Wagner, who pitched two seasons for the Phillies. Here's when and how to tune in to the 2025 MLB Hall of Fame induction ceremony. When is the 2025 MLB Hall of Fame induction ceremony? The 2025 Major League Baseball Hall of Fame Induction Ceremony will begin at 1:30 p.m. July 27 and will be broadcast on MLB Network. The MLB Hall of Fame ceremony will also be livestreamed on within the MLB App and on Baseball Hall. Where is the 2025 MLB Hall of Fame ceremony? The 2025 MLB Hall of Fame Induction Ceremony will take place at the Clark Sports Center in Cooperstown, New York. Clark Sports Center is one mile south of the National Baseball Hall of Fame and Museum. There is no charge for lawn seating for MLB's 2025 Hall of Fame induction ceremony, but they will be available on a first-come, first-serve basis only. Pennsylvania native Dick Allen finally makes MLB Hall of Fame Dick Allen was born March 8, 1942, in Wampum, Pennsylvania, and signed a mature free agent contract with the Philadelphia Phillies before the 1960 season. "Allen debuted with the Phillies as a late-season call-up on Sept. 3, 1963. By the following season, Allen won the Phillies' starting job at third base – a position he had rarely played," read the National Baseball Hall of Fame bio on Dick Allen. "Allen made 41 errors at third base in 162 games in 1964, but it was his record-setting hitting that powered his run to the National League's Rookie of the Year Award. "Allen led the NL with 125 runs scored – ninth among modern era (post 1900) rookies in MLB history – 13 triples and 352 total bases while hitting .318 with 38 doubles, 29 home runs and 91 RBI." Allen's career stats and hustle led to the Hall of Fame inclusion. "His final totals: a .292 batting average with 351 home runs and 1,119 RBI in 15 seasons, with a .378 on-base percentage and a .534 slugging percentage," read Allen's bio. "He led his league in slugging percentage three times and on-base percentage twice while earning seven All-Star Game selections." Dick Allen died in December 2020; he was 78. This article originally appeared on Delaware News Journal: Phillies' great Dick Allen inducted into Hall of Fame this weekend
