buzzcut Posted December 4, 2005 Share Posted December 4, 2005 From ESPN.com:Report: Yankees lost $50-85 Million in 2005ESPN.com News ServicesThe 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.Ironically when I first read this, I thought this was a hoax, but since it's true, it ain't even funny. The CCSLC's resident Geelong Cats fan. Viva La Vida or Death And All His Friends. Sounds like something from a Rocky & Bullwinkle story arc. Link to comment Share on other sites More sharing options...
Seadragon76 Posted December 4, 2005 Share Posted December 4, 2005 It is kinda funny when you think about it, buzzcut.This is a team nearly just about everyone hates because they, for the most part, spend for the big names. To see them in the red is a rather convincing arguement towards the reason why people hate the Yanks. Link to comment Share on other sites More sharing options...
Redlands, CA Posted December 4, 2005 Share Posted December 4, 2005 It goes to show you that George cares about the Yankees to be willing to spend money and lose money. He doesn't run it as a business such as few teams do. (insert the clippers). Link to comment Share on other sites More sharing options...
CaolinaJoe Posted December 5, 2005 Share Posted December 5, 2005 Doesn't matter, it's a tax write off. "It is the soldier, not the reporter, who has given us freedom of thepress. It is the soldier, not the poet, who has given us freedom ofspeech. It is the soldier, not the campus organizer, who has given usthe freedom to demonstrate. And it is the soldier who salutes theflag, serves beneath the flag, whose coffin is draped by the flag, andwho allows the protester to burn the flag."Marine Chaplain Dennis Edward O' Brien Link to comment Share on other sites More sharing options...
WSU151 Posted December 5, 2005 Share Posted December 5, 2005 It goes to show you that George cares about the Yankees to be willing to spend money and lose money. He doesn't run it as a business such as few teams do. (insert the clippers). Yes, Steinbrenner's ways should be the model for every business and/or sports owner... Smart is believing half of what you hear. Genius is knowing which half. Link to comment Share on other sites More sharing options...
StoneRaizer Posted December 5, 2005 Share Posted December 5, 2005 Eventually George Moneybags is going to run out of cash at that rate, and the Yankees are going to have an Expos-style fire sale.Good god when that happens I'm taping all of the sports channels 24/7 so I can show my kids footage of the Great Yankee Sale. Link to comment Share on other sites More sharing options...
FiddySicks Posted December 5, 2005 Share Posted December 5, 2005 Eventually George Moneybags is going to run out of cash at that rate, and the Yankees are going to have an Expos-style fire sale.Good god when that happens I'm taping all of the sports channels 24/7 so I can show my kids footage of the Great Yankee Sale. I agree. That is a huge possibility. Just like there is a good possibility that JQK is the rebirth of the Messiah, Puckguy will some day become a HUGE Dallas Stars fan, nwtrailtrekker will find the Sasquach, and Chris will denounce his Canadian citizenship On 11/19/2012 at 7:23 PM, oldschoolvikings said: She’s still half convinced “Chris Creamer” is a porn site.) Link to comment Share on other sites More sharing options...
jkrdevil Posted December 5, 2005 Share Posted December 5, 2005 Well as a Yankees fan I'm going to look at this as a good thing as in they will stop just throwing money at the problem. And that they will aquire the right players and not the most expensive. Link to comment Share on other sites More sharing options...
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