To the Yankees: How to balance a check book.

[ksushi]

Updated: Dec. 4, 2005, 11:38 AM ET

Report: Yankees lost $50 to $85 million for 2005 seasonESPN.com news services

 

 

The New York Yankees lost between $50 million and $85 million for the 2005 season, the New York Daily News reported Sunday.

 

Despite drawing more than four million fans, a payroll of $200 million plus an additional $110 million in revenue sharing and luxury taxes has left the Yankees in the red, according to the paper.

 

"Yes, even George has his limits," one source told the Daily News.

 

The paper also reports that the Yankees might have to open up their checkbooks even further if a consultant hired by MLB decides the team undervalued their television rights.

 

The Yankees currently charge the YES Network about $60 million a year to broadcast games, but if it's found to be undervalued, the Yankees will have to make up the difference put more money into the revenue-sharing fund, the paper reported.

 

"They're going to owe us money," one MLB source predicted to the paper.

 

The final numbers won't be crunched for a few months, but it's believed the final number will be roughly $80 million when all is tallied. According to Forbes magazine, the Yankees lost $37.1 million in 2004.

 

 

That off of ESPN.com

 

Pretty interesting since all my yankee fan friends have been telling me all year long that we're in trouble this offseason when the Yankees won't be in trouble with luxury tax. I see how thats worked out for them. good luck george man.

[26 to 6]

Even though it says the Yanks only made 60mil off the YES Network, that is incorrect. That is only the official number of the television rights. George owns the network, more than half of the profits go to him and his family. And not to mention all the sponsors and whatnot. Believe me, while we may be in Luxury Tax trouble, the Yankees and George Steinbrenner are not losing money. And if they are, it is not very much.

[Soxfan1]

Even though it says the Yanks only made 60mil off the YES Network, that is incorrect. That is only the official number of the television rights. George owns the network, more than half of the profits go to him and his family. And not to mention all the sponsors and whatnot. Believe me, while we may be in Luxury Tax trouble, the Yankees and George Steinbrenner are not losing money. And if they are, it is not very much.

Oh yeah I spend that much an hour.

[26 to 6]

Oh yeah I spend that much an hour.

Pretty lame attempt at sarcasm

 

I think :/

[schillingouttheks]

Don't worry, it WAS a lame attempt.

[Sizzlin22]

Interesting. I'm curious to know how much of George's income actually goes toward the Yankees and how much he keeps for himself.

 

I do know the Yankees don't have to pay morgatge becaue George owns the property (something no other MLB team has).

[ahhchon]

Even though it says the Yanks only made 60mil off the YES Network, that is incorrect. That is only the official number of the television rights. George owns the network, more than half of the profits go to him and his family. And not to mention all the sponsors and whatnot. Believe me, while we may be in Luxury Tax trouble, the Yankees and George Steinbrenner are not losing money. And if they are, it is not very much.

 

bingo...

 

to all sox fans, if you really think the yankees are losing money you are on crack. i live in boston and when i go to any sporting store there are always as many yankee caps as there are sox caps.. the yankee market is massive, they don't lost money.

 

john