Yankee-Net Merger Agreement Signed

George Steinbrenner and his partners have signed an agreement to merge the business operations of his New York Yankees and the NBA’s New Jersey Nets, people familiar with the process told Bloomberg News.

The first-of-its-kind agreement, which still needs major league baseball’s approval, could serve as a model for the future of professional sports ownership, giving the teams more leverage in cable television negotiations, and opening the possibility of a new regional sports network.

The teams also are considering selling stock to the public to raise money for a possible purchase of a NFL franchise, probably the New York Jets, the person told Bloomberg.

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A night after being attacked by a fan in Milwaukee, Houston’s Bill Spiers pinch-hit in the ninth and hit a fly out to left. He still has a sore neck. . . . Boston General Manager Dan Duquette said right-hander Mark Portugal, released unexpectedly Friday night, was let go because of “his performance the second half of the season.” Portugal had lost his last four decisions. Also, reliever Tom Gordon, sidelined most of the year with recurring elbow pain, was recalled from injury rehabilitation but remains on the disabled list. . . . The Cleveland Indians sold out about 10,000 World Series and 3,500 American League championship series tickets in one hour. . . . Reversing his earlier position, Florida Marlin owner John Henry says he must have taxpayer help if the team is to build a new ballpark. Otherwise, he says, “Baseball in South Florida is doomed.”