Jul 2, 2010, 3:15 PM EST
This is not a surprise because we all know the Yankees are a friggin’ cash cow, but just saying that is one thing. Seeing the real numbers is a different deal altogether. Get this report from CNBC’s Darren Rovell:
A revised bond rating issued by Standard & Poor’s today provides an
in-depth look at the New York Yankees’ 2009 revenues and it reveals that
the champions grossed $397 million in ticket revenue, including $72
million on the postseason alone.
In other words, the Yankees’ postseason ticket revenue alone brought in enough money to cover the payroll for 12 Major League teams this year.
Rovell goes on to report that the Yankees are suspected to take in about $600 million. Even with a $200 million payroll, a luxury tax of $25 million and however much they pay in revenue sharing, they’re still able — if they choose to anyway — buy and sell more or less anyone they want.
That they have actually instituted something which approaches a budget in the past couple of years is fairly sobering. I mean, according to Rovell, the Yankees entire season-long ticket revenue was $52 million in 1997 and $157 million in 2005. Now that they’ve more than doubled that latter figure without raising the payroll that much, where is all that extra money going?
I have this image of a Bond villain or Cobra Commander-style island fortress being constructed somewhere. I have this image of the Yankees achieving nuclear capability before Iran does. I’d quote that “Minnie the Moocher” lyric about a diamond car and a platinum wheel again if I hand’t just done it yesterday.
- Aramis Ramirez says 2015 will be his last year 29
- Francisco Rodriguez re-signs with the Brewers 9
- If addiction is an illness — and it is — Josh Hamilton shouldn’t be suspended 283
- Pirates open to massive extension for Andrew McCutchen 18
- Report: Josh Hamilton had a relapse this offseason that “involved at least cocaine” 86
- Yankees don’t plan on having to pay A-Rod’s $30 million in home run milestone bonuses 50
- San Francisco — and all of California — will consider a smokeless tobacco ban that includes MLB parks 131
- Rob Manfred says a return to a 154-game season could happen one day 67
- If addiction is an illness — and it is — Josh Hamilton shouldn’t be suspended (284)
- San Francisco — and all of California — will consider a smokeless tobacco ban that includes MLB parks (131)
- Report: The Yankees were “fuming” at how A-Rod handled his early arrival to spring training (114)
- Cuban prospect Yoan Moncada reportedly signs with the Red Sox for $31.5 million, plus $31.5 million in penalties (106)
- Brian Sabean says that California taxes are a hindrance to the Giants signing free agents (102)