Four years after agreeing to join forces as a company called YankeeNets, the principal shareholders of the New York Yankees and the New Jersey Nets yesterday agreed to begin to dissolve the partnership and to quickly proceed with the sale of the Nets.

In a statement after a YankeeNets board meeting, spokesman Howard Rubenstein said, "The shareholders have entered into a memorandum of understanding to pursue a restructuring of the ownership interests of YankeeNets. The parties hope to conclude this matter shortly."