The New York Yankees built a new stadium across the street
from their old, historic stadium before the 2009 season to a bag of mixed
reviews. Some fans didn’t want to see the old stadium and all its history torn
down in lieu of a new stadium while others welcomed the change. The Yankees
presumably welcomed the change because of the added revenue a new stadium tends
to bring a team and organization, well that was the plan anyway. That has not
gone according to plan for the Bronx Bombers according to a report that ran in
the New York Times this week.
According to the report the New York Yankees have lost a
whopping $166 million in ticket and suite revenues since opening their new
stadium back in 2009. These numbers have to be reported on since the tax payers
of New York are helping to pay for the stadium. Here is the official press
release:
"The financial figures, from the public filings the
Yankees are required to make on their stadium bonds, represent a 42 percent
loss in ticket and suite revenues over the last seven seasons. And despite the
team's compelling play this season, attendance through the first quarter of
their home schedule is down from the same point last year."
The drop-off in ticket and suite revenues also comes at a
time when the team's expenses are still among the highest in baseball."
The average attendance at Yankee Stadium per game is 35,642
which is nearly 12,000 fans a night less from Yankee Stadium III’s highest
numbers. Despite this the Yankees are still the most valuable franchise in all
of Major League Baseball according to Forbes and the team also has the second
highest payroll in all of MLB behind only the Los Angeles Dodgers.
We have a few former season ticket holders here… what are
your thoughts? Leave them below in the comments section or drop us a tweet on
Twitter by following @GreedyStripes.
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Sorry for the Capatcha... Blame the Russians :)