Forbes: Yanks now worth $1.6 billion

The Yankees, baseball’s World Champions, are now worth nearly twice as much as the next most valuable franchise, according to Forbes Magazine. In its annual Business of Baseball report, released last night, Forbes pegged the value of the New York Yankees at a cool $1.6 billion, and more surprisingly, the business mag claims the team turned a profit of nearly $25 million in 2009 after six straight seasons of operating in the red.

Hot on the heels of the franchises’ 27th World Series title and with a new stadium raking in the bucks, the Yanks saw their value increase by more than seven percent over 2009. The Red Sox, at $870 million, are ranked number two, and the Mets ($858 million), Dodgers ($727 million) and Cubs ($726 million) round out the top five. The Pirates and A’s, both valued are under $300 million, are MLB’s two cheapest clubs right now.

According to Forbes, the Yanks’ valuation breakdown is as follows: The Yanks’ sport value — that aspect attributable to revenue shared among all teams — is $146 million. The team’s position as New York’s leading franchise lends it $839 million in value. The new stadium contributes $287 million, and brand management — that famous interlocking NY — is worth $328 million on paper. The team, wrote Forbes, also “boast[s] the richest cable deal in baseball and have begun to make money from their new concession business, Legends Hospitality Management, a partnership with the Dallas Cowboys and Goldman Sachs.”

On the revenue side, the Yanks enjoyed great success at their new home. With player obligations, according to Forbes, totaling $240 million, the team enjoyed $319 million in gate receipts and $440 million in overall stadium revenue used for debt payments. The team’s reported profit before interest, taxes, depreciation and amortization checks in at a healthy $24 million, good for tenth in the game. Overall, the Marlins again led the field with a profit in excess of $46 million, and the Red Sox were second at $40 million.

For the Yankees, this report paints a rosy picture. The team had been operating at significant deficits for much of the luxury tax era in the 2000s, but with a new stadium and more success, the franchise has managed to turn a profit. There is however a cloud to this silver lining: The team’s debt/value ratio is 89 percent, second only to the debt-riddled Texas Rangers. The Yankees owe debt on stadium construction bonds and on previous years’ revenue outcomes.

So as we delve into these numbers, it’s worth revisiting the Yanks’ claims of a budget for 2010. For much of the winter, we heard talk about the Yanks’ attention to the bottom line. Brian Cashman adhered to the budget set by the team’s Front Office, and with an eye toward flexibility closer to the July trade deadline, the team was unwilling to stretch that budget.

With a profit, it is possible that the Yanks could have invested more in the team this winter, but at the same time, the franchise owes payment on a significant chunk of debt. As baseball is definitely a business, the team has to keep an eye on both the product on the field and its balance sheet. With the information from Forbes, we have a snapshot of the Yankees as they play out the start of the 2010 season and a better understanding of the economics behind it. The team has never been more valuable, and you can bet that the rest of baseball is well aware of this economic reality.

The new guys pitch in to beat Sox in extras

There were a few moments in the ninth when it didn’t seem like the Yankees would see extra innings. The Sox nearly ended it a couple of times, but the Yanks hung in there and took advantage during Papelbon’s second inning of work. I’ll take a win against the Sox any way it comes, but it’s so much sweeter when Papelbon is the goat.

Biggest Hit: Curtis Granderson‘s 10th inning jack

Photo credit: Charles Krupa/AP

After a 10-pitch, 1-2-3 ninth inning, Jon Papelbon got the call to face the bottom of the Yankees’ order in the 10th. He had already taken care of the heart of the order, retiring A-Rod, Cano, and Posada in the ninth, so he had a seemingly easier task ahead of him. With the Yankees’ order, though, there is no soft spot. Every hitter can do serious damage. Curtis Granderson, the No. 7 hitter, proved that almost immediately.

Papelbon opened the at-bat with a fastball low in the zone, his 10th in 11 pitches. Granderson fouled it off. Once again Papelbon went with the fastball, this time leaving it up in the zone. Victor Martinez set up low, but it looked like Papelbon just missed his spot. Granderson sent it well over the right field wall, giving the Yankees the lead and leaving the game up to Mo. That’s never a bad thing.

Honorable Mention: Nick Swisher‘s RBI single

Photo credit: Elise Amendola/AP

For three full innings the Sox held a 1-0 lead. John Lackey didn’t exactly work efficiently, but the Yanks couldn’t get anything going off him. Then, in the seventh, with Lackey’s pitch count at exactly 100, the Sox went to the bullpen. With two lefties and a switch hitter due up, Francona went to Scott Schoeneweis. He did his job against the two lefties, striking out both Robinson Cano and Curtis Granderson. His trouble, however, came from Jorge Posada, who doubled on a slider right in his wheelhouse.

With another switch-hitter, Nick Swisher, due up, Francona went to Dan Bard to finish the inning. He started Swisher with a 97 mph fastball on the inside edge, which Swisher fouled away. The next pitch was similar, though it caught a bit more of the plate. Same result. The third pitch had a bit more zip, registering at 99 mph, but again Swisher fouled it off. For the fourth and final pitch, Bard took a little bit off. The pitch registered at 91, but it featured a bit more movement than the previous three pitches. Movement or not, though, it was right over the heart of the plate and Swisher slapped it on the ground to right.

The ensuing play would have been more comical if 1) it wasn’t close and 2) if Jorge hadn’t hit the ground hard. J.D. Drew’s throw home was a bit up the line and Victor Martinez had to reach out to get it. Jorge was just about at the plate by that point, and the two got a bit tied up trying to avoid a big collision. The ball rolled away and Jorge touched up to tie the game.

Biggest Pitch: Ortiz finally gets a hit

Photo credit: Elise Amendola/AP

David Ortiz gave us all a chuckle with his expletive laden rambling last night, but in the third inning last night he was no laughing matter. Dustin Pedroia doubled down the left field line to open the inning, but Andy Pettitte came back to retire Victor Martinez and Kevin Youkiis. To escape the frame without damage all he had to do was retire David Ortiz, 0 for the season at the time with just one walk.

Pettitte started the at-bat with a low fastball called for strike one. Then he went to the cutter, throwing it three straight times and getting one swing and miss, bringing the count to 2-2. For the fifth pitch he went back to the fastball, this time looking inside. This one didn’t have as much life on it as the first pitch, which allowed Ortiz to extend his arms and smack it to right. Were Jesse Barfield in right he probably would have gotten Pedroia at the plate. Nick Swisher, however, didn’t get nearly enough on the throw and the Sox took an early 1-0 lead.

Biggest Blunder: A-Rod’s DP in the 6th

As John Lackey’s pitch count rose it looked like the Yankees were finally getting to him. Derek Jeter led off the sixth by working a 2-2 count, reaching base when Lackey hit him in the back. Nick Johnson, looking for his first hit smoked the seventh pitch of the at-bat to right. It was within J.D. Drew’s range, though. Teixeira then walked, putting runners at first and second with one out for A-Rod, hitless so far on the night.

It looked like the Yanks had Lackey on the ropes. He had already thrown 17 pitches in the inning and his first pitch to A-Rod would be his 99th. Yet A-Rod swung at the first pitch. It was somewhat in his wheelhouse, a 91 mph cutter on the inner half. He only managed to foul it away, though. Lackey came back with another hittable pitch in about the same location, this time a four-seamer, but A-Rod didn’t put a good swing on it. A grounder to third meant an around the horn double play, ending the threat.

In addition to having the biggest negative WPA play for the Yankees, A-Rod also had by far the lowest total WPA, -.279, more than 10 percent worse than Cano’s -.137.

Don’t judge him by one appearance

Photo credit: Charles Krupa/AP

Chan Ho Park faced his share of criticism after serving up a home run to Dustin Pedroia on Sunday night. He got the night off on Tuesday while Al Aceves worked his multi-inning magic. Park found himself in that same role last night. He took over in the seventh after Andy Pettitte battled through six innings, but this time he didn’t disappoint.

He didn’t exactly pitch his three innings gracefully. He did face only 10 batters, with Marco Scutaro batting twice. Of the nine outs he recorded seven were in the air, and a few of them came a little close to the wall for my liking. But he did get the job done. J.D. Drew collected the only hit of the outing, and while Mike Cameron and Adrian Beltre gave us a bit of a scare, well, no harm no foul. Also, no one would have even left their seat at Yankee Stadium on Cameron’s fly.

It helped, too, that as soon as Park finished his job Granderson gave the Yankees the lead, thus giving Mo the ball. I hope to see more instances of Park and Aceves pitching multiple innings. Why take the ball away if they’re pitching well?

Things that made me smile

Photo credit: Charles Krupa/AP

Victor Martinez. After hitting Burnett hard last night, he was the last guy I wanted to see up with runners on first and second with none out in the fist. Pettitte got him to ground to third, though, and A-Rod tossed it around the horn for two outs. I wondered if he would take it to third, killing Ellsbury, before throwing across the diamond. With Martinez running he had a chance. Best, though, to take the surest path to multiple outs.

Pettitte’s final inning start off annoyingly, with Adrian Beltre singling, but it ended wonderfully. J.D. Drew grounded an 0-1 curveball to Cano, which started a double play. After he struck out Mike Cameron I did a little fist pump. So did Pettitte.

I never want to see someone get hit in the head, but if it’s going to happen at least let it be like Pettitte’s fastball off Youkilis’s head. The 90 mph fastball seemed to get away from Pettitte. Youkilis was in the process of ducking, so he was moving away from the impact. Otherwise, it wouldn’t have been a laughing matter. All I could think at the time was, “schtoink!”

Then I smiled some more when Pettitte struck out Ortiz to end the inning.

Mo for the second night in a row.

Photo credit: Charles Krupa/AP

Things that annoyed me

A-Rod. His fly outs in the first and fourth didn’t look to bad, but from the double play on he took some weak hacks. None, of course, was as costly as the DP.

Dustin Pedroia and his tiny strike zone. It would annoy me a lot less if he wasn’t a damn good hitter.

Adrian Beltre hitting the ball hard almost every time up.

Next up

Friday night at 7 the Yanks head into Tampa. Javy Vazquez goes for the Yanks against David Price for the Rays.

WPA Chart

Check out the full WPA breakdown at the FanGraphs box score.

Game Three Spillover Thread

Runs. We want runs.

Game Three: The first rubber game

Photo Credit: Julie Jacobson, AP

The opening series of the season naturally brings plenty of firsts, and the Yankees and Red Sox were able to beat everyone else to punch for a lot of things because they played Sunday night. Jorge Posada picked up the 2010’s first hit, homerun, and run all on one play, then one batter later he and Curtis Granderson became the first teammates of the year to go back-to-back. Nick Swisher, of all people, hit the season’s first single, impressive since he had more extra base hits (65) than singles (59) last year. Nick Johnson (who else) drew the first walk. David Robertson blew the season’s first save, and an inning later Chan Ho Park blew the second. Getting to the point, tonight will the season’s first rubber game, as these bitter rivals will both try to win the series tonight.

Andy Pettitte will take to the mound after a Spring Training filled with rainouts and simulated games, making his first start that counts since the day he won the World Series clincher. The 37-year-old is no stranger to Fenway or the Red Sox hitters, so there’s no surprises on his end. He’ll be opposed by Boston’s latest bargain bin pickup, former Angel John Lackey. The Yankees are certainly familiar with the righty, having hung seven runs on him in 12.1 innings (two starts) in the ALCS last year. Mark Teixeira (.388-.464-.551) and Jorge Posada (.414-.469-.586) completely own Lackey, and you’ve got two other players with .900+ career OPS’s against him in Derek Jeter and Nick Johnson.

As much as we bemoan Joe Girardi‘s non-stop bullpen tinkering, the advantage is that everyone is fresh and ready to go tonight. That includes Al Aceves, who threw just 23 pitches in his two innings last night. If push comes to shove in the late innings, I’m all but certain we’ll see Joba Chamberlain out there again.

Anyway, here’s tonight’s lineup…

The Cap’n, SS
OBP Jesus, DH
Robo-Tex, 1B
A-Rod, 3B
Can’t hit with RISP, 2B
Old catcher who can’t block a pitch to save his life, C
The new guy who can’t hit lefties, CF
He’s just a fourth outfielder, RF
The fastest white guy in America, LF

And on the mound, the Demon from Deer Park, Andrew Eugene Pettitte.

First pitch is scheduled for 7:10pm ET, and can be seen nationally on ESPN2. In the NY area, it’ll be on YES. Enjoy.

On slow starts and small sample sizes

Last night, after he failed to record a hit, reporters pestered David Ortiz with questions about his slow start, and the embattled Red Sox DH erupted in the greatest example of Mad Libs ever. “You guys wait ’til [expletive] happens, then you can talk [expletive]. Two [expletive] games, and already you [expletives] are going crazy,” he said. “What’s up with that, man? [Expletive]. [Expletive] 160 games left. That’s a [expletive]. One of you [expletives] got to go ahead and hit for me.”

Earlier today, Fack Youk, in a post that fills in the graphic-language blanks, takes on the topic of small sample sizes and the early goings. We know that slow starts don’t mean much in the grand scheme of a 162-game season. We know that players will eventually regress to the means, get their hits, hit their home runs. We know that we can’t judge Ortiz on eight plate appearances and can’t proclaim the return of Joba based on two strike outs. Yet, so many people — from players to fans to reporters — do so. Anyway, check out what Matt had to say at Fack Youk, and remember that there are “[expletive] 160 games left.”

The importance of taking a pitch

AP Photo/Charles Krupa

In a fairly routine 6-4 win last night, the Yankees saw 185 pitches over 43 plate appearances. The winning run scored on a walk, and their six and seven hitters saw a combined 53 pitches over nine plate appearances. The Yanks’ offense made the Red Sox hurlers work their way through a nine-inning game, and in the truest sense of the baseball cliche, they grinded out a win.

For the Yankees, taking pitches, working the count and upping opposing pitchers’ pitch counts isn’t a new story. Brian Cashman and, before him, Gene Michael have built teams based upon patience since 1994 when the Yanks led the league in on-base percentage and were second in pitches seen and third in pitches per plate appearance. In fact, the Yanks have been one of the AL’s top three on-base teams in all but two of the past 16 seasons.

All of this patience pays off. Last year, for instance, the Yankees led the AL in pitches seen with 25,049. They averaged 3.88 pitchers per plate appearance, good for fifth in the Junior Circuit, and the team’s hitters worked the count to 3-1 709 times, well above the league average of 583. In just 24 percent of plate appearances, Yankee hitters swung at the first pitch. Only the Red Sox and Angels swung at fewer first pitches. By taking so many pitches, the Yanks drew an AL-leading 663 walks and scored 915 runs.

Already this year, in two games, we’ve seen some similar trends. Over their first two games, the Yanks have seen 341 pitches and have made the Red Sox pitchers work for their strikes and for their outs. They’ve drawn 11 walks and have an overall OBP of .395. They’re already averaging 6.5 runs per game.

So why then does it matter? Last night we saw it matter when Nick Johnson stood at the plate with two outs and the bases loaded. He took a few close pitches, earned himself a few nice calls and walked away with the game-winning RBI. Overall, the team can use this patience and willingness to take pitches to tire out pitchers to their advantage. At 3.88 pitches per plate appearance, starting pitchers will reach the 100-pitch mark after approximately 25 or 26 batters. Managers will have to turn to their bullpens for around 9-12 outs, and the Yanks will see more outs secured by lesser pitchers.

In a sense, the need for patience goes without saying. Of course, the more a starting pitcher throws early on, the sooner he’ll be out of the ballgame. The more a pitcher throws, the more likely he is to make a mistake. The more pitches the Yanks see, the more likely they are to get on base. They more they’re on base, the more they score. On the other hand, though, enough teams overlook it that the Yanks’ attention to patience can become a significant advantage.

So as Nick Johnson puts up a .000/.500/.000 line over this first two games and as two hitters in the bottom half of the Yanks’ order sees a combined 53 pitches in one night, the team will put on a clinic in getting on base. Before Moneyball came around, the Yankees knew the importance of taking pitches, and the team still excels at it.

Yankees claim Chad Huffman from San Diego

Via Buster Olney, the Yankees have claimed outfielder/first baseman Chad Huffman from the Padres. He was designated for assignment earlier this week to make room on their roster for Matt Stairs. The 24-year-old righty hitter was ranked as San Diego’s 21st best prospect coming into the season by Baseball America, who noted his ability to murder fastballs and his susceptibility to offspeed stuff. Limited to first base or left field, Huffman’s just an okay defensive player who won’t steal any bases. In other words, this is purely a Triple-A depth move.

The Yankees had an open spot on their 40-man roster following the release of Chad Gaudin, so there’s no other move coming. Remember, former Padres’ GM Kevin Towers is now a special adviser for the Yanks, so I’m certain he had some input on this move.