The Yankees success on-the-field in '96 is "sure to send the
team's annual revenues though the $100 million barrier" for only
the second time in club history, according to Philip Lentz of
CRAIN'S NEW YORK BUSINESS. Lentz notes that the Yankees post
season success will increase Owner George Steinbrenner's bottom
line by "up to" $9M, as playoff revenues, mostly from concessions
and ticket sales, are expected to reach $15M and "could go as
high as" $25M if the World Series lasts a full seven games.
Lentz notes the "most important reason" for the Yankees
profitability is their 12-year $486M cable TV contract with MSG.
Lentz: "Few believe [the team] can get a similar deal when the
MSG agreement expires in 2000, which means the Yankees may not be
able to duplicate their current revenue numbers over the long
term" (CRAIN'S NEW YORK BUSINESS, 10/21 issue).
NOW HEAR THIS: In his Page 6 gossip column, Neal Travis of
the N.Y. POST reports that clothing "tycoon" Sy Syms has put
together an ownership group offering to buy the Yankees. Travis:
"Syms tells friends he's passionate about the team and believes
it must remain in The House That Ruth Built. I hear he will be
seeking a meeting with The Boss right after the World Series"
(N.Y. POST, 10/24).
