Mets, Yankees Lose Millions In Potential Ballpark Revenue

The Mets and Yankees are "missing out on millions of dollars in potential ballpark-related revenue with baseball shut down during the COVID-19 pandemic," according to Baumbach & Albanese of NEWSDAY. The Mets last season reported $148.7M in "premium ticket sales, luxury suites, concessions, advertising and parking," and annual ballpark-related revenue has averaged $143.8M "since Citi Field opened" in '09. The Mets' filings "do not include revenue from the sale of 30,000 non-premium seats and national and local TV and radio contracts." Meanwhile, the Yankees generated $336.2M in ticket and suite sales in '19, averaging $323.4M "since Yankee Stadium opened" in '09. The Yankees' filings "do not include revenue" from concessions, advertising and TV/radio contracts. The financial data lists "only the specific revenue streams the teams pledged to their bonds when they were issued 14 years ago." Both teams have "annual bond payments to make" on their ballparks. The Yankees made their $84.2M payment in February; the first of the Mets' two payments of $21.7M is due today and the second in December. As of March 31, the Yankees had sold $200.9M in "tickets and suites for the 2020 season," their "most ticket revenue through the first quarter" since '13 (NEWSDAY, 6/13).

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