It’s a three-for-one special this afternoon on RAB. You get three mini-posts about the Yankees’ business and rolled up into one.

Yanks break even in ’09
Generally, the New York Yankees with their gaudy $200 million payroll, don’t turn a profit. According to team officials, the club operates in the red due to the $100 million in revenue sharing and luxury tax payments it must make each year. In a way, that figure is a bit of an accounting slight of hand because it doesn’t count numerous other Yankee business ventures, including the YES Network, but that’s what the books read.

This year, though, the economics of the Yankees are different. As CNBC’s Darren Rovell reported yesterday, the Yankees are breaking even this year, and the team can thank the generosity and largesse of the City of New York for it. Reports Rovell:

But thanks to higher ticket prices, crowds filling the new Yankee Stadium seats to almost 94 percent of capacity and, perhaps most importanly, the tax shelter associated with new stadium costs that can be deducted from the team’s net revenues, sources say that the Yankees organization will make break even or perhaps even make money this year.

Sources say the savings on the tax shelter are expected to be at least $40 million.

I’ve long contended that taxpayers got a raw deal with the new Yankee Stadium. The city forewent far too much tax revenue and handed out far too many tax subsidies at a time when it could least afford it. The Yanks, though, are benefiting from it. The team has talked about maintaining or reducing payroll for 2010, but with this tax shelter, it appears as though the Yanks could add payroll next year and still come out fiscally stronger than they were a year or two ago.

World Series nets New York $40-$110 million
The New York City economy has long been sagging. Saddled with rising costs and a decreasing tax base due to the current recession, the city is in danger of running a deficit that would trigger state control of municipal finances. Perhaps, though, the World Series can alleviate some of the pain.

According to the Daily News, the World Series is very, very good for the economy. Each game brings in approximately $20 million in added revenue. From taxes on merchandise sales to bar tabs and crowded restaurants, business and the government enjoy the benefits of the Fall Classic. Even the MTA which sees 20,000 more riders per game gets in on the act.

For the Yankees and the City, the ideal outcome too would be a parade. A World Series victory would mean an additional $30 million economic activity. Here’s to No. 27.

NYY Steak roots for rain delays
Finally, we arrive at food. Crains New York spoke with David Miller, the COO of NYY Steak, about running a steak house in a stadium. While fans root for clear skies and warm weather, Miller says his restaurant benefits from rain delayed games and cool winds. “Rain and cold drive up business at the restaurant by at least 20 percent,” he said to Lisa Fickenscher.

According to Miller, the average tab at the steak house runs to around $98, and the place fills up pretty quickly once the game wraps up. It will be interesting to see how both NYY Steak and the Hard Rock Cafe do over the winter. These two establishments will keep their doors open all year long but won’t enjoy the benefits of 48,000 fans traipsing past their doors 81 times as they do during the summer.