Money tales for the Yanks

ALCS Game 1: A very late thread
The real ghosts of Yankee Stadium

While Americans are focused on the plummeting global economy these days, the world of sports is no exception. With two new stadiums on the way in New York, questions about about the state of baseball economics. The numbers — at least for the Yanks and Mets — are pretty encouraging.

From Danielle Sessa, Bloomberg News’ sports writer, comes a tale about the Yankees’ new luxury boxes. The team has just seven unsold boxes at the $600,000 price point. She reports:

The New York Yankees have seven luxury suites priced at $600,000 a season left for sale at their new stadium and the club isn’t concerned that the economic crisis will hamper its ability to sell them, chief operating officer Lonn Trost said.

The $1.3 billion ballpark has 47 luxury suites, though the Yankees aren’t selling all of them. Some will be held for corporate sponsors, Trost said today.

Suites priced at $850,000 to $650,000 are already sold out and for a minimum of five years, Trost said. He declined to comment on how many suites in total were sold.

Across town, the Mets have sold out their 49 new boxes but at a price point of just $500,000. It doesn’t take an economics major to know that the Yankees have already made more on luxury box sales than the Mets with seven boxes remaining unsold. Even in a bad economy, the Yankees manage to come out ahead.

For those of you with a few hundred grand lying around, the new suites come equipped with state-of-the-art luxuries. Much as the suites do in the Meadowlands, the new Yankee Stadium suites will come with indoor and outdoor seating as well as HDTVs and private bathrooms.

In other economic news, MSNBC calculated that the Yanks spent the most per win of any Major League team. The team’s 89 wins cost $2.5 million each. While Tampa — at $451,759 per win — was the most economical team, the Yanks probably earned back more for their wins than any team drawing just over 22,200 per game.

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ALCS Game 1: A very late thread
The real ghosts of Yankee Stadium
  • dan

    No DotF tonight?

    • http://www.riveraveblues.com Ben K.

      Nope. Mike had some other things to attend to this Friday. If there’s anything of note, anyone should just follow up on this comment with a post about it.

  • dan

    I meant more for the masses than myself… Miranda hit another triple, that might be of note. No pitchers in AZ tonight. Romine is 1 for 2 so far, and Bleich has thrown 5 scoreless with 5 k’s and no walks in only 66 pitches.

    D

    • dan

      Didn’t mean to submit that comment yet…. I was about to say the games aren’t over yet anyway.

  • brockdc

    Thanks, Dan.

    Night Owl here on the left coast.

  • kenthadley

    Yanks have sold off most of their luxury boxes for the next 5 years, and Hank is itching to spend….sounds like they are going after everyone…..could be really interesting, once we get these playoffs over……looking forward to RAB on Nov 1……should be a better read than my stock values…….also sounds like he wants Tex AND the pitching…..

  • DonnieBaseballHallofFame

    “Across town, the Mets have sold out their 49 new boxes but at a price point of just $500,000. It doesn’t take an economics major to know that the Yankees have already made more on luxury box sales than the Mets with seven boxes remaining unsold. Even in a bad economy, the Yankees manage to come out ahead.”

    Yeah but the new stadium costs way way more than Citi Field. The Mets are going to be in a great spot to spend more money as well. If they get Manny and CC they might be a monster for a couple of years.

  • adam

    the marlins were the most economical, no?

    Anyway, anyone who has ever taken an intro economics course knows the law of diminishing returns, which states that you get less results the more you spend. If you look at the list, all of the expensive teams were the least efficient.

  • Steve

    Bleich had a strong outing, going 6 giving up no runs and 4 hits.

    Romine went 2-4 with a SO

    http://mlb.mlb.com/milb/stats/.....n_wocwin_1

  • Steve

    Yesterday Brackman had a spotty outing, walking 4 in 3.1 but giving up only 1 run.

    http://mlb.mlb.com/news/articl.....8;c_id=mlb

    • Reggie C.

      As long as he gets his bad outings of the way early … nah just kidding. he’ll probably be like up-and-down the whole time in Hawaii. But the important thing is that we’ve seen him go 5 innings, so any talk of “brackman needs to go to the ‘pen NOW” will quiet down.

  • Bonos

    Just as long as he gets his innings in and no injury, I would consider HWL a success.

  • MasterShake

    How much money do you have to have to feel good using $500,000+ to go to baseball games and sit in a luxury box?

    • Andy In Sunny Daytona

      At least $500,000.

  • Old Ranger

    Brackman (unless a set back) will take a while to move up the ranks. Tall guys have so many moving parts, it takes a while to refine their delivery and develop command/control.
    He sounds like a stud, I’ll go see him pitch next year a few times. I trust my eyes better then having someone tell me he is good/bad. His projection is high, be nice if he matches it. 27/09.

  • ortforshort

    Money spent per win is a mildly interesting, mostly irrelevent statistic in baseball. I think that the Yankees number is too low. If your business model indicates that the best way to make money is to overspend on players, then that’s what you do. The Yankees have not spent enough since Cashman has taken over the reigns in 2005 and the result is the Yankees missing the playoffs this year. If the Yankees continue to go in reverse, as they have done recently, their revenues will start falling a lot faster than their payroll.

    • dan

      They haven’t spent enough? How much is enough, $300million?

  • Andy In Sunny Daytona

    If they win 100 games, it’s still over $2 million per win. Totally irrelevant.

  • http://westmelrose.blogspot.com ajd

    You said “just” $500,000.

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