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.
- And That Happened: Sunday’s scores and highlights 0
- Alex Rodriguez hits 659th career home run, now one shy of tying Willie Mays 25
- Pitchers batting is dumb and the DH should be universal 252
- Max Scherzer doubtful for next start due to thumb injury 4
- Protesters converge on Oriole Park at Camden Yards 149
- It sure sounds like Adam Wainwright suffered a torn Achilles tendon on Saturday night 43
- Settling the Score: Saturday’s results 33
- Report: Rangers will pay Josh Hamilton less than $7 million; deal includes opt-out after two years 99
- Pitchers batting is dumb and the DH should be universal (257)
- The early leaders in MLB’s “Franchise Four” thing have been announced (166)
- The Royals and White Sox had a benches-clearing fracas, five players ejected (158)
- Protesters converge on Oriole Park at Camden Yards (149)
- Kelvin Herrera gets a five-game suspension; Yordano Ventura fined (133)