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Yankees Not Immune To Ticket, Suite Revenue Declines Even With Promising Roster

Yankees ticket and suite revenues through last season had "fallen by a staggering" $166M since the end of '09, the year the club christened its new ballpark with their last World Series title, according to Billy Witz of the N.Y. TIMES. The financial figures, from the public filings the Yankees are required to make on their stadium bonds, represent a 42% loss in ticket and suite revenues "over the last seven seasons." The ticket and suite revenues are "only a portion of the Yankees’ overall income, which also includes television and radio broadcast fees, advertising and licensing, and a portfolio of ancillary businesses." The team’s expenses are still "among the highest" in MLB, with a payroll of $212M, which ranks third behind the Dodgers and Tigers. Meanwhile, the stadium bond payment climbed to $83.8M this year, and the luxury tax at the end of last season was $27.4M. For the Yankees, business interests include Legends Hospitality, a handful of New York Yankees Steakhouses, a stake in NYCFC and YES Network. The Yankees also "joined forces last year with a longtime adversary, the ticket reseller StubHub," in a deal that could earn the club as much as $100M over six-and-a-half years. Still, all these deals and the income they generate have to be "set against the very expensive stadium the Yankees are financing, and the problems they have filling enough seats and suites." Witz: "Some of that problem may have its roots in pricing." Even with a "young, vibrant team that is playing beyond expectations, attendance has continued to fall this season." The Yankees’ "per-game decline of 3,793 over the same number of games last season, through Tuesday, is the third-sharpest in baseball," trailing just the Royals and Mets. The average attendance of 34,642 "represents a decline of nearly 12,000 from the new stadium’s peak" (NYTIMES.com, 5/25).

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