Why won't pg_basebackup output go to log?

I run a nightly pg_basebackup from a cron job (Postgres 9.3 on debian "wheezy"), but the backup has been failing. It actually creates output, but the .tar file is corrupt and won't extract. I went to my log file, only to find it is 0 bytes. Could anybody tell me what is wrong with my setup? Why isn't the log file saving the output of pg_basebackup?

#!/bin/sh
BASEBACKUP_LOG=/var/log/postgresql/basebackup.log
[ -f $BASEBACKUP_LOG ] && mv -f $BASEBACKUP_LOG $BASEBACKUP_LOG.old

BACKUP_PATH=/path/to/backup/$(date +%F)
pg_basebackup -D $BACKUP_PATH -Ft -z -v 2>&1 | ts '%F %T %Z' &> $BASEBACKUP_LOG

The way I'm reading the pg_basebackup line, I think it should redirect stderr to stdout, pipe the combined stream to the ts function (prepend timestamp to a line) and write that to the path at $BASEBACKUP_LOG. Am I missing something obvious here?