Extra, Extra
Extra, Extra
Extra, Extra
Extra, Extra
Early Addition
Sunday, the Daily News reported that the Yankees lost anywhere from $50-80 million in 2005. The figure comes after adding 2005 payroll at around $200 million, revenue sharing of $75 million, a $33 million luxury tax and operating expenses. Yikes, $300+ million for an AL East Championship? On top of that, prices are going up next year with the premium tickets getting $20 more expensive.
The News also points out that the situation could get worse for the Yankees. While they're already cutting back on free-agent acquisitions (so far, at least), their revenue sharing contribution may go up after a re-evaluation of YES Network fees paid to the Yankees. Last season, YES paid the team only $60 million for broadcast rights, a number that a MLB consultant is expected to say is too low. With a higher number, the Yankees will have to kick in more funds to the league.
Illustration from the Daily News
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Who knew you could make a bigger profit with a hot dog stand outside the ballpark
Just want to note that the Yankees didn't lose any money last year. The team as an entity? yes. The complete Enterprise known as the NY Yankees? No. YES and creative bookkeeping made sure of that.