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Message
Yankees are having cash flow issues
Posted on 5/26/17 at 10:26 pm
Posted on 5/26/17 at 10:26 pm
LINK
quote:
Billy Witz @billywitz
The Yankees have lost $166 million in ticket revenue - and its still declining - since they last won a World Series.
quote:
The financial figures, from the public filings the Yankees are required to make on their stadium bonds, represent a 42 percent loss in ticket and suite revenues over the last seven seasons. And despite the team’s compelling play this season, attendance through the first quarter of their home schedule is down from the same point last year.
quote:
So perhaps it is no surprise that Steinbrenner wants the Yankees’ payroll to dip below next season’s $197 million luxury-tax threshold. It would be the first time since the tax was instituted in 2003 that the Yankees would be below the threshold and it would come just in time to avoid the onerous penalties for repeat offenders that will kick in next season. Still, Steinbrenner maintained that the decline in ticket and suite revenues had nothing to do with his payroll objective.
quote:
Last year, ticket and suite revenues declined $46 million. It was a sharper-than-expected drop that was cited by Moody’s, the bond rating service, as a factor in its decision this month to downgrade the outlook of the $1.2 billion in stadium bonds to negative from stable. The negative outlook indicates a higher likelihood that the bond ratings — currently Baa1 — could be downgraded in the next 12 to 18 months, which could then make future borrowing by the Yankees a costlier proposition.
6
Posted on 5/26/17 at 10:28 pm to RedRifle
Maybe they could "gasp" lower their ticket prices for once.
Posted on 5/26/17 at 10:32 pm to Bench McElroy
That isn't just a Yankee problem.
Going to a game is expensive. Even if you grab a pair of $25 tickets off of Gametime, it's $20 to park, a couple dogs and beers and it's already a $100 night.
Not many folks can afford to do that on the reg.
Going to a game is expensive. Even if you grab a pair of $25 tickets off of Gametime, it's $20 to park, a couple dogs and beers and it's already a $100 night.
Not many folks can afford to do that on the reg.
Posted on 5/26/17 at 10:57 pm to RedRifle
No one goes to Yankees games anymore.
Hopefully that changes with their new crop of young kids.
Hopefully that changes with their new crop of young kids.
Posted on 5/27/17 at 12:07 am to RedRifle
So fans do matter?
Posted on 5/27/17 at 12:37 am to TXGunslinger10
Meh. Take the subway or park on the street. Eat and drink at home before the game. A lot of the cost offset right there.
Posted on 5/27/17 at 2:14 am to CRDNLSCHMCPSN11
I would think having Yankees season tickets in NYC would be a cool perk and status thing, but I guess there a jillion other things to spend money on in NYC.
Posted on 5/27/17 at 2:17 am to DupontsCircle
Yup. They are a really good team this year, so that is surprising revenue is down.
Posted on 5/27/17 at 3:16 am to CRDNLSCHMCPSN11
quote:
Meh. Take the subway or park on the street. Eat and drink at home before the game. A lot of the cost offset right there.
You should be able to have a few beers and hot dog without it costing you an arm and a leg. A major league baseball game is on average 3 hours. That's a long time without something to drink and snack on. I mean I could go without a beer and a hotdog at a game if I had too but to me that is apart of the experience. Ticket and concession prices shouldn't be so high.
Posted on 5/27/17 at 4:00 am to Manlaw35
I agree that it shouldn't cost that much. But the reality is that it does. 3 hours without food or drink isn't that long to me. I go at least that long before I take lunch at work. If the stadium has something unique on the menu that I want I might buy it. I did buy a $6 water at a game last year once or twice, but we walked all the way around the stadium and sat in the sun all day, so I was dehydrated. But usually avoid concessions if I can help it. We had breakfast before game, so no need to overspend at park.
Posted on 5/27/17 at 6:25 am to TXGunslinger10
quote:
Going to a game is expensive. Even if you grab a pair of $25 tickets off of Gametime, it's $20 to park, a couple dogs and beers and it's already a $100 night.
Not many folks can afford to do that on the reg.
I see this posted a lot. Is a $100 night really that big of a deal
Posted on 5/27/17 at 6:57 am to threeputt
For a lot of working people yes it is.
Posted on 5/27/17 at 7:01 am to RedRifle
Talk about a misleading title...
Posted on 5/27/17 at 7:06 am to RedRifle
Good . Frick the yankees!
Posted on 5/27/17 at 7:41 am to RedRifle
On one hand, it's nice seeing some of these ultra stadiums run into issues. It's insane teams are spending billions of dollars into a stadium that has no shot of actually recouping. On the other hand, it actually means taxpayers will spend more money.
Posted on 5/27/17 at 8:41 am to threeputt
quote:
Is a $100 night really that big of a deal
Only for poors.
Posted on 5/27/17 at 9:15 am to tduecen
quote:
Talk about a misleading title...
Yeah, I came in thinking they were having trouble meeting payroll or something
Posted on 5/27/17 at 11:56 am to CRDNLSCHMCPSN11
quote:
Yup. They are a really good team this year, so that is surprising revenue is down.
Thinking back, it makes sense. I went to a Yankees game in Rivera's last year against Baltimore. I got 200 level seats which is their plaza level just past 3rd base for $15, which I thought was a ridiculous good deal.
I think I only paid $20 per seat for similar seats against Boston in 2014 for a weekend series and remember the stadium not being as full as I expected.
Posted on 5/27/17 at 12:20 pm to TXGunslinger10
quote:
Going to a game is expensive. Even if you grab a pair of $25 tickets off of Gametime, it's $20 to park, a couple dogs and beers and it's already a $100 night.
Yeah, it's the same issue movie theaters are facing.
Disneyworld took a big hit this year in ticket sales declining after they raised prices last year by almost 20%. It's almost $200 for a 1-day pass to all the parks.
Posted on 5/27/17 at 12:23 pm to threeputt
quote:
I see this posted a lot. Is a $100 night really that big of a deal
For a season ticket holder that's around 60 games so yeah that could add up.
This post was edited on 5/27/17 at 12:24 pm
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