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November 22, 2008 2:34:26 AM CST

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How the Yankees Got So Rich

Posted May 19, 08 3:25 AM CDT in US,  Sports 

(Newser) – The Yankees may not be that good on the field this season, but it’s not hurting franchise income. With estimates of the team's overall value pegged at $1.2 billion, documents obtained by the New York Daily News under a Freedom of Information request show just how much cash the team may be raking in to support that value. The Yankees haven’t won a World Series since 2000, but still took in $188 million at the gate last year. That’s up over 20% from 2006.

Concessions netted an additional $65 million, thanks to prices like the cup of Bud that costs fans $9.50. Factor in a new stadium for next season and there’s no relief in sight for ticket-payers. A $250 single-game ticket this season will jump $600 next year. And without having to contract out concessions to a third party, as they do now, the Yankees will be raking in more dough there, too, the News reports.

Source New York Daily News

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Fans line up to purchase tickets at New York's Yankee Stadium after the baseball strike ended in this April 3, 1995 file photo. Both New York teams are in the final seasons of their ballparks.   (AP Photo/Clark Jones, file photo)
Babe Ruth bows as he acknowledges the cheers of fans who saw his No. 3 retired by the Yankees during the observance of the 25th anniversary of the opening of Yankee Stadium in this file photo.   (AP Photo/Harry Harris, File)
New York Yankees principal owner George Steinbrenner, left, and his son Yankees general partner Hank Steinbrenner watch the Yankees play a game at Legends Field in Tampa, Fla. in this file photo.   (AP Photo/Kathy Willens)
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MLB • baseball • New York Yankees • George Steinbrenner • Hank Steinbrenner • Bronx Bombers


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