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 If you follow the business of baseball, it should be little surprise that the New York Yankees are a revenue making juggernaut unlike any other in MLB. Just how much is partially revealed in Sunday’s New York Daily News.
As reported, the Yankees “grossed a record $188 million in gate receipts, a 20.5% increase over the 2006 season.” The report then adds that “stadium income surpassed $319 million in 2007.” The team's annual rent report filed with the city Parks Department shows the Yanks netted $65.3 million in concessions last year. As for concessions, here is how the Daily News is reporting the pricing structure: - $9.50 for Budweiser on tap.
- $10.50 for Foster's beer on tap.
- $5.75 for a box of Cracker Jacks.
- $8 for Italian sausage.
- $5 for a Nathan's hot dog.
Forbes values the Yankees at $1.306 billion, an increase of 9% from the year prior. Without factoring in the revenues from the YES Network, which are deemed to be off the Yankees’ books (but, most analysts agree factor heavily into revenues for the Yankees), Forbes has the Yankees running at a loss with -$47.3 million in operating income. Why? The highest player payroll in MLB coupled with the club paying the lion’s share of revenue sharing.
Maury Brown is the Founder and President of the Business of Sports Network, which includes The Biz of Baseball, The Biz of Football, The Biz of Basketball and The Biz of Hockey. He is contributor to Baseball Prospectus, and is available as a freelance writer. Brown's full bio is here. He looks forward to your comments via email and can be contacted
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