Case Study: The New York Yankees

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THE NEW YORK YANKEES. The New York Yankees is an American baseball team based in the Bronx, New York. The club was founded in Baltimore, Maryland in 1901. During its formation, it went by the name Baltimore Orioles. It was moved to New York City in 1903 as the New York Highlanders before eventually changing to the Yankees. The club enjoys one of the most expensive stadiums ever constructed in the USA but are facing pressures to sell their naming rights to the brand new stadium. The stadium was constructed by the help of tax-exempt bonds issued by the New York City and selling the naming rights to the stadium would help protect the tax payers’ money. Following the announcement of the 2010 full-season ticket license pricing for regular season games at the Yankee stadium, 97% of the…show more content…
A commitment was made for 29 of the 47 luxury suites in the new ballpark at prices from $600,000 and $800,000 and will have a 74 seat club which would be priced at $700 per ticket. For ordinary seats, the club would send out a relocation plan. There would be about 11000 non-premium seats at field level and 12000 at the main level. In the final season of the current stadium, the team had 162 legend seats priced at $1000 a game. Behind that are 3000 Field Champion seats, which were sold for $250 a game this year as part of seasons tickets. The Yankees raised $1.2 billion in tax-exempt bonds and $136 million in taxable bonds. The cost of the Yankee stadium is a total of $ 4 billion; inclusive of potential property tax over the 40 year deal. Neil DeMause, the co-author of field schemes, estimates the total cost of the Yankee stadium at more than $2 billion counting the price of land, garages, demolition of the old stadium and parks to replace those given up for the new site. He estimates the total public costs for both ballparks at $1.8 billion. Work

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