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View Full Version : Yankees To Announce Plans For New Stadium


Wealz
07-30-2004, 01:29 PM
Looks like the Yankees want to build the new park across from Yankee Stadium. The plan calls for Yankee Stadium to be torn down.

http://www.wnbc.com/sports/3593738/detail.html

SOXSINCE'70
07-30-2004, 02:38 PM
Now comes the fun part:

From what I read in the "Cub-Une" this morning (7/30),the city admits the Yamkmees need a new infrastructure but the taxpayers WILL NOT pay for the construction of a new Yankmee Stadium.:?: :?:

Wealz
07-30-2004, 02:45 PM
Prior to 9/11 NY was planning to build stadiums for both the Yankees and Mets. I believe the Yankees proposed park was slated for mid-town Manhattan. Could you imagine the price of a stadium there and what it would have done for the Yankees net worth? As it is I don't suppose anyone would have to hold a tag day if they build the new park in the bronx.

Nellie_Fox
07-31-2004, 03:27 AM
The plan as I read it was to build across the street from the current stadium, but leaving the old one up, with the ballfield intact, parking stacked on top of it, and a soccer stadium on top. I'm serious, that's what it said in the St. Paul Pioneer Press.

The Yankees are not asking for any taxpayer dollars for the actual stadium, but want the city to build a railroad stop at the ballpark and other surrounding infrastructure improvements, including public ballparks running along the Harlem River to make up for the park land that will be used by the new stadium.

bigfoot
07-31-2004, 08:44 AM
The Yankees may not use NY taxpayers money to subsidize the new Stadium. But Steinbrenner may be off the hook for the 'luxury tax' he pays to the rest of the league because of the expense of the building. That's $40-$60 million that won't be divided among the other teams. The other $2 million that KW would have had to play with, will be gone. Does that mean the tax will be on us and not the Yankees?

Nellie_Fox
08-01-2004, 03:13 AM
The Yankees may not use NY taxpayers money to subsidize the new Stadium. But Steinbrenner may be off the hook for the 'luxury tax' he pays to the rest of the league because of the expense of the building. That's $40-$60 million that won't be divided among the other teams. The other $2 million that KW would have had to play with, will be gone. Does that mean the tax will be on us and not the Yankees?Correct me if I'm wrong, but I believe that he luxury tax is based only on payroll, not total expenses against payroll. I don't think that building a new ballpark will give them credit against the luxury tax.

Paulwny
08-01-2004, 01:32 PM
Correct me if I'm wrong, but I believe that he luxury tax is based only on payroll, not total expenses against payroll. I don't think that building a new ballpark will give them credit against the luxury tax.
From the Boston Herald:
(Also, the team could cut its $60 million annual revenue-sharing payment to Major League Baseball by roughly $13 million, thanks to a league incentive to build stadiums, Ganis estimates. )

Last paragraph in the link: http://business.bostonherald.com/businessNews/view.bg?articleid=37957

MrRoboto83
08-01-2004, 05:30 PM
If the Yankees cut back their payroll to 60 million, they could pay for a new stadium in 2-3 years? The Tax payers or NY city shouldnt have to pay a dime.

Nellie_Fox
08-02-2004, 02:07 AM
From the Boston Herald:
(Also, the team could cut its $60 million annual revenue-sharing payment to Major League Baseball by roughly $13 million, thanks to a league incentive to build stadiums, Ganis estimates. )

Last paragraph in the link: http://business.bostonherald.com/businessNews/view.bg?articleid=37957 That's why I opened with "Correct me if I'm wrong." I was, you did. Thanks.