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.
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?