Tuesday, May 20, 2008

The rest of the story

In 2004 the Yankees paid $85 million in revenue sharing on $315 million in revenues per AP report on ESPN.com. The Biz of Baseball 5/19/08 notes Forbes says the Yankees lost $47.3 million in 2007 due to high revenue sharing payout and high payroll. The payroll of course triggers another large sum paid back to MLB in the form of luxury tax. It costs a lot to go to Yankee Stadium--that's why many fans can't afford to go. Many articles highlight how "rich" the Yankees are. It remains to be seen how long this "richness" will continue--attendance languished for many years and much of the recent "riches" make the game inaccessible to fans.

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