Nov
08
Comptroller: Yanks owe $11M in back rent
ByIt looks like the Yanks forgot to pay the rent. According to a rather boring and technical audit — aren’t they all like that? — by New York City Comptroller William Thompson (available here as a PDF), the Yankees misreported some attendance, revenue sharing and cable numbers. As a result, the team owes the city $11 million in Yankee Stadium back rent. The Yanks do not dispute these findings — which include some lofty numbers on concession sales — and have submitted $7 million to the city. The rest the team will fork over in March. It looks like in the midst of a financial crisis, New York City is going to crack down on delinquent bills.
Deadbeats.
By the way, it really looks like the Yanks just print money at the stadium. Over $250 millin in food sales over four years is pretty sick.
and aren’t they doing that thing with the cowboys to control the concessions and make even MORE money?
Is that regular season only? Beacuse thats somewhere around $14 per person per game. That’s about right.
This grant ensures a light bulb in every classroom, and a high-definition TV for the teachers lounge.
A chicken in every pot, and a cap in every ass.
Shouldn’t the other teams in the league pitch in to pay this bill? “Fairness” and all that?
Rent sharing? I like it.
I think MLB has a sweetheart deal with the Yankees. I think the real deal with Jerry Jones was about how to make more money and give less to MLB.
Jerry Jones has his own merch deal outside of the NFL which is super big money. If the Yanks could somehow opt out of the MLB merch deal that would bring in at least another hundred million a year easy. The Red Sox could also bring in a ton, as well.
I thought the Yanks don’t pay rent to the city on the current facility.
So much for that canard.
But in exchange for no rent, the City also is no longer responsible for maintenance. Every chunk of cement that falls from the ceiling is now the Yankees job to fix.
It’s not enough of a net financial gain to make it worthwhile to the city, but it’s something.