Yanks’ stadium debt hits $1.3 billion

Athletics Nation interviews Giambi
Open Thread: The Five Musketeers

As 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.

email
Athletics Nation interviews Giambi
Open Thread: The Five Musketeers
  • Drew

    We know that they project earnings of nearly half a billion but does anyone know what they’re projected expenses are?

  • jsbrendog

    and how do they go about paying this all back? wow

    • Drew

      It will be payed back, and probably within a time period similar to most mortgages and other loans. That’s just my guess anyway.

    • Zack

      AIG?

  • Rich M

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

      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.

  • Jonathan

    The whole revenue sharing portion is null and void because of the new stadium, right? Am I understanding that aspect of the deal correctly?

  • Pingback: Matsui won’t play outfield until June | The Voice of Yankees Universe

  • Pingback: Yankee Stadium | JordonCooper.com