IT'S (ALMOST) OFFICIAL: YANKEENETS APPROVAL EXPECTED TODAY

          The YankeeNets "merger is expected to be approved"
     today by MLB owners at a meeting in Dallas (Chris Broussard,
     N.Y. TIMES, 11/30). The SPORTSBUSINESS JOURNAL's Daniel
     Kaplan reports that the Yankees and Nets are "trying to sell
     $360 million of bonds to help finance the merger," and if
     it's successful, the debt sale "would represent the largest
     team financing ever, besting" the $340M loan given to
     Redskins Owner Daniel Snyder.  Kaplan adds that the Yankees
     and Nets "already have [a] combined" $139.8M of debt, and
     including the ten-year bonds "now being marketed," the new
     company would "carry nearly" $500M of debt.  The bonds are
     being sold by the new company, YankeeNets LLC, and would
     "partly finance the Nets' $225M payment to the Yankees as
     part of the proposed merger."  Chase Manhattan Corp.
     VP/Sports Finance Rob Tilliss: "That is a considerable
     amount of debt to raise.  The proof in the pudding is how
     they can get the market to believe how firm are the revenue
     commitments" (SPORTSBUSINESS JOURNAL, 11/29 issue).