Costa: Yankees lost $58M in ticket revenue from 2012-2013By
Via Brian Costa: The Yankees lost approximately $58M in ticket revenue this past season according to publicly available financial documents the team must file with the city as part of the bonds agreement for the construction of the new Yankee Stadium. Ticket sales and suite licenses totaled $295M in 2013, down from $353M in 2012, $377M in 2011, and $384M in 2010. The team attributes the revenue drop solely to missing the postseason.
“What this clearly shows is that the Yankees’ whole financial equation is built around winning. If you take that away, they become mere mortals from a financial standpoint,” said Vince Gennaro, president of SABR and consultant to MLB teams. That $58M, which doesn’t include lost concession revenue, is greater than what the club would reportedly save by getting under the luxury tax threshold in a given year. That might explain why the team has suddenly reversed course and gone on a spending spree after talking about getting under the threshold (and making moves to make it possible) for the last two years.