18 Apr 2016
I wasn’t around this weekend, but if you missed Michael Powell’s article detailing the ways the Yankees used public financing to build their new ballpark, you should read it now. It’s a potent reminder of how much of that palace was paid for by we the taxpayers.
I love the Yankees and will always support them on the field, but they are a bloodless business machine. Pretty much every professional team is, but the Yankees are really good at it. From $12 beers, $20 for five sliders with french fries, $30 hats, to the incredibly expensive tickets, the new place is a cash machine for Yankee ownership. The Yankees could put some of that back into the community and the city, rip up the tax-exempt financing they received, and pay some property taxes, but they won’t.
That’s the deal we make as sports fans and it is good to remember it. When Hal Steinbrenner says he doesn’t believe you need a $200-million payroll to win a championship he is really saying “I don’t want to spend $200-million on payroll because that is money I could keep in my pocket.” If he ever achieves that goal, do not expect ticket prices to decline or concessions to get cheaper. The owners are the hammers and we are the nails. That’s reality.