Mar
16
Yanks’ stadium debt hits $1.3 billion
ByAs the Yanks prepare to open their new ballpark in a few weeks, Sports Business Journal reports that the team took out another $100 million loan to cover final cost overruns. The total debt incurred by the team to build the stadium now stands at $1.3 billion, but according to SBJ, analysts are projecting healthy finances for the Yanks. According to sources, the team projects to $450 million in revenue for 2009, and while the team must dole out payroll and revenue sharing payments, the Yanks still stand to be one of the higher grossing clubs — if not the highest — in all of baseball.
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We know that they project earnings of nearly half a billion but does anyone know what they’re projected expenses are?
and how do they go about paying this all back? wow
It will be payed back, and probably within a time period similar to most mortgages and other loans. That’s just my guess anyway.
AIG?
I posted this in the open thread, but if you click on the link at the bottom of the article you guys got a mention in the article about the new yes network site.
http://www.sportsbusinessjournal.com/article/61851
Pat, What do you keep trying to do with these posts? This is the third or fourth empty post. You can’t embed anything. Only Joe, Mike and I can.
The whole revenue sharing portion is null and void because of the new stadium, right? Am I understanding that aspect of the deal correctly?
[...] Yanks’ stadium debt hits $1.3 billion / No structural damage for Marte, Cano [...]
[...] Perhaps the decision by the New York Mets to spend half the money on Citi Field is going to be a good one after all. The Yankees could find themselves hurting over the decision to build this shrine. My understanding is that the expensive seats subsidize the cheaper seats and pay most of the bills and cover the debt servicing. The debt on Yankee Stadium stands at an incredible $1.3 billion. [...]