Yanks lost $50-80 Mill in '05

[MC Hammer]

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.

http://sports.espn.go.com/mlb/news/story?id=2247401

 

I think it's funny

[Optimist]

A source I have said this isn't true.

 

(If you can beleive a lot of 'sources' and 'officials' without names in an article...what would keep you from applying the same standard for me?)

[Sizzlin22]

One flaw in your logic, writers actually have "sources" that are in the loop in organizations. Nice try though.

[Optimist]

One flaw in your logic, writers actually have "sources" that are in the loop in organizations. Nice try though.

 

Oh, because it says they're 'in the loop' in the article...it must be true.

 

It truly is astounding how many people will beleive something just because it's in a newspaper or online.

[MC Hammer]

Oh, because it says they're 'in the loop' in the article...it must be true.

 

It truly is astounding how many people will beleive something just because it's in a newspaper or online.

Whats truly astrounding is the amount of people who think the Yankees can do no wrong, and make no mistakes. I know it's hard for you to admit your owner is a s***** business man, but its the truth.

[Optimist]

Whats truly astrounding is the amount of people who think the Yankees can do no wrong, and make no mistakes. I know it's hard for you to admit your owner is a s***** business man, but its the truth.

 

For all I know, this could be true...but I'm not going to believe it just because the media says so. When the Yankees release their financials, then we'll see. This might require you to put common sense before your frightening dislike for the Yankees; I know it'll be hard, but try it for once.

 

Seriously, I don't understand how people can just eat up what the American media puts forward...I mean, come on. This is a group that lied about issues that could impact a Presidential election last year, you think they're going to always care about the truth in something as trivial as baseball? [/rant]

 

I mean, if you're going to put 100% faith in an article which uses not a single named source...well, I have a bridge in Brooklyn I'd be willing to sell you.

[Sox Fan on Cape]

There is a major component missing here. That is the figure being reported maybe correct. But it is probably based on the information furnished to MLB. This would include the obvious of ticket sales, concessions, and revenue from broadcast fees, etc. Then expenses such as salary, operationg, debt service, luxury tax, revenue sharing, etc. are deducted to determine a profit or loss. The major difference, is that the Yankees and Red Sox both have majority ownership in their major broadcasters. The Yanks with the YES network and the Sox with NESN. For accounting purposes, only the fees that are charged to the network are included in their income ( for MLB ) not the profit derived from the ownership of the networks. Its an accounting technique.

[26 to 6]

There is a major component missing here. That is the figure being reported maybe correct. But it is probably based on the information furnished to MLB. This would include the obvious of ticket sales, concessions, and revenue from broadcast fees, etc. Then expenses such as salary, operationg, debt service, luxury tax, revenue sharing, etc. are deducted to determine a profit or loss. The major difference, is that the Yankees and Red Sox both have majority ownership in their major broadcasters. The Yanks with the YES network and the Sox with NESN. For accounting purposes, only the fees that are charged to the network are included in their income ( for MLB ) not the profit derived from the ownership of the networks. Its an accounting technique.

That is a point I was trying to make in the other thread regarding this topic.

 

I know it's hard for you to admit your owner is a s***** business man, but its the truth.

You my friend, are an absolute IDIOT. He bought the Yankees for $10 million, today they are a multi-billion dollar company. He ran a very successful ship company for many years. He makes money hand over foot. To say that he is a bad businss man is ludicrous. You need to grow up and give the Yankees (or anyone having anything to do with the Yankees) their props when they are deserved. I have no problem praising the Red Sox when they deserve it but under no circumstances will you not put down a Yankee, a Yankee official, or the Yankee organization.

 

George Steinbrenner is a better business man then a lot of the owners out there, and he is far and beyond the galaxy a better business man than you.

[AlexanderTheGreat13]

That is a point I was trying to make in the other thread regarding this topic.

 

 

You my friend, are an absolute IDIOT. He bought the Yankees for $10 million, today they are a multi-billion dollar company. He ran a very successful ship company for many years. He makes money hand over foot. To say that he is a bad businss man is ludicrous. You need to grow up and give the Yankees (or anyone having anything to do with the Yankees) their props when they are deserved. I have no problem praising the Red Sox when they deserve it but under no circumstances will you not put down a Yankee, a Yankee official, or the Yankee organization.

 

George Steinbrenner is a better business man then a lot of the owners out there, and he is far and beyond the galaxy a better business man than you.

Excellent Post, you beat me to it.

[RedRuffing15]

 

You my friend, are an absolute IDIOT. He bought the Yankees for $10 million, today they are a multi-billion dollar company. He ran a very successful ship company for many years. He makes money hand over foot. To say that he is a bad businss man is ludicrous. You need to grow up and give the Yankees (or anyone having anything to do with the Yankees) their props when they are deserved. I have no problem praising the Red Sox when they deserve it but under no circumstances will you not put down a Yankee, a Yankee official, or the Yankee organization.

 

George Steinbrenner is a better business man then a lot of the owners out there, and he is far and beyond the galaxy a better business man than you.

 

He also(not really relivent, but none-the-less) took the Yankees from only having 966,328 fans in 1972 to 4,090,696, so hes doin a fine job building a team that can win...and we can watch

[Varitek33]

LOL.:thumbsup: