Yankees lost between $50 and $85 million last year

[Mik]

The New York Yankees lost between $50 million and $85 million for the 2005 season, the New York Daily News reported Sunday.

 

Despite drawing more than four million fans, a payroll of $200 million plus an additional $110 million in revenue sharing and luxury taxes has left the Yankees in the red, according to the paper.

 

"Yes, even George has his limits," one source told the Daily News.

 

The paper also reports that the Yankees might have to open up their checkbooks even further if a consultant hired by MLB decides the team undervalued their television rights.

 

The Yankees currently charge the YES Network about $60 million a year to broadcast games, but if it's found to be undervalued, the Yankees will have to make up the difference put more money into the revenue-sharing fund, the paper reported.

 

"They're going to owe us money," one MLB source predicted to the paper.

 

The final numbers won't be crunched for a few months, but it's believed the final number will be roughly $80 million when all is tallied. According to Forbes magazine, the Yankees lost $37.1 million in 2004.

 

Party's over?

[The Czech Republic]

Oops.

[Failed Bridge]

this is why the Yankees desperately need a new ballpark. Without new facilities they won't be able to compete with the rest of the league!!!!

[The Czech Republic]

If New York doesn't want to help, say hello to the Las Vegas Yankees!

[Vampiro69]

I feel soooooooooo bad for Stienbrener. Well maybe not.

[EVIL~! alkeiper]

I have my doubts. The Yankees may have lost money. I doubt the YES Network loses money. When you consider all of Steinbrenner's baseball related holdings, I have to believe he turns a profit.

[razazteca]

The Yankees need to change their uniforms.

[CanadianChris]

I have my doubts. The Yankees may have lost money. I doubt the YES Network loses money. When you consider all of Steinbrenner's baseball related holdings, I have to believe he turns a profit.

I don't think Steinbrenner's above a little creative accounting to make himself look good.

[Jericholic82]

If New York doesn't want to help, say hello to the Las Vegas Yankees!

yea, then watch me as I swear off baseball forever lol

[Eclipse]

If the Yankees ever left NY...I bet some of the value of the city would go down. I doubt just having the Mets would keep the love of baseball alive in the city.

[Guest]

Why is the Yankees leaving New York being talked about? That's nearly as improbable as me winning a Cy Young.

[Mole]

Awesome.

[Jorge Gorgeous]

I would bet my life that this is just a bit of monetary misdirection. Like someone said earlier, the money is probably hid in YES, or some other organization involved with the Yankees. Everyone does this sort of thing, in an effort to not contribute as much money to revenue sharing.

[RepoMan]

The Yankees are just making this claim so they can blackmail the NYS legislator w/ the threat of moving to NJ is they don't approve the new Yankee Stadium.