Lupica says Yankees lost $50-$85 million this year

Members of the media and assorted spinmeisters will ignore the truth, but Mike Lupica in his NY Daily News column today reports that the Yankees are losing money--- revenue from Yankee attendance & related income doesn't cover the high cost of the team. The Yankees also pay $110M in revenue sharing and luxury tax. Lupica says the separate entity the YES Network makes money which probably helps cover the difference. However, even that is not all Mr. Steinbrenner's. He owns 60%, while 40% is owned by other investors. And, the network is operating on 100's of millions in loans. The Yankees are giving away money, but can't cover their own expenses. What exactly are the other teams doing with Yankee fans' money? Some are pocketing it. If you want to hate someone, why not hate those people? Answer: maybe because you're lazy.

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