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Yankees Brush Off Report Club Is Struggling Financially, Insist Club Is Doing Just Fine

A N.Y. Times report that "paints a somewhat bleak financial outlook for the Yankees is not causing panic" for members of the organization's front office, according to Christian Red of the N.Y. DAILY NEWS. Referring to the club's numerous licensing, sponsorship and marketing deals, Yankees President Randy Levine said, "Despite declines in ticket sales, the Yankees' overall revenue is up since 2009 (when the new Yankee Stadium opened), and that doesn't even include the equity interests we have." Red notes the Yankees and their ballpark have "undergone significant changes within the last year." Senior VP & GM Brian Cashman has brought in an "influx of young players," while major renovations to Yankee Stadium were "designed to attract younger fans." The overall seating capacity has been "reduced by nearly 5,000 seats, from 52,325 to 47,422." The Yankees are averaging 36,280 fans this season through 21 home games. There are "numerous tangible and intangible factors to consider when making Yankee Stadium attendance comparisons within one calendar year: the Yankees had already played their ancient rival Red Sox three times in early May last year, and the Bombers averaged 45,149 fans per game during that three-game series." Inclement and chilly weather also "wreaked havoc for the Yankee home games in early ‘17, including a Saturday game against the Astros being postponed until the next day, May 14, when the ceremony honoring Derek Jeter and his No. 2 being retired turned into a single-admission doubleheader, meaning no gate receipts for the early game" (N.Y. DAILY NEWS, 5/26).

THE NINE HOLE: In N.Y., David Li notes the Yankees are "on pace to finish the season" with $166M less in ticket and suite sales than in '09. Yankees execs "didn't dispute that raw estimate -- but insist it's an unfair comparison," because '09 was a "once-in-lifetime, sky-high money maker for any club" (N.Y. POST, 5/26). SI.com's Jimmy Traina writes the AL East-leading Yankees are "more fun to watch" than in recent years. However, this is "not about players," but rather the "money and the way the Yankees treat their fans." Traina: "What your fans are looking at are the ticket prices for good seats and what it will cost in total to take in a regular season baseball game." Fans can "spend $20 and sit 800 feet away from the field if you wish." Traina: "But if you're a mom or dad with two kids and would like to give them that memorable experience of sitting up close and near the field and players, you have to take out a second mortgage" (SI.com, 5/25).

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