Jul 2, 2010, 3:15 PM EDT
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.
- Jose Altuve breaks Craig Biggio’s franchise record, tallying his 211th hit of the season 4
- Orioles beat Blue Jays to clinch AL East title 21
- Tanner Roark dominates as Nationals clinch NL East 18
- Masahiro Tanaka to pitch on Sunday 9
- Astros shut down George Springer for the season 0
- The Blue Jays will make a qualifying offer to Melky Cabrera 24
- And That Happened: Monday’s scores and highlights 34
- MLB suspends Jonathan Papelbon seven games for incident during Sunday’s game 42
- Chris Davis suspended 25 games for amphetamine use (92)
- A few thoughts about the discrimination lawsuit against the Mets (91)
- Giancarlo Stanton diagnosed with multiple facial fractures and dental damage (91)
- Bud Selig can’t remember the last domestic violence incident in Major League Baseball (88)
- A couple of initial thoughts on the Chris Davis suspension (83)