Yankees finances in the red?

[CoRruPt-]

http://www.bloomberg.com/apps/news?p...d=aZ5BrdI04Pq0

Hmmm. I'm sure their various enterprises can't be losing money. Such as YES.

[deeman11747]

Re: Yankees finances in the red?

Its been known for a few years now. Thats why Steinbrenner has to pay out of his own pocket to finance the team because the revenue isnt enough.

[Stu]

Re: Yankees finances in the red?

I still have doubts that the Yankees are reporting all their income, but it was only a matter of time. In reality, they're actually a very poorly run business when you consider the money they throw away in luxury tax.

[SPTO]

Re: Yankees finances in the red?

There is nothing wrong with running slightly in the red. Lord knows, for years the Blue Jays would have years where they were in the red only to make it up the next year.

The Yankees are a whole different kettle of fish tho as they throw money all over the place PLUS have to pay luxury taxes and all that other stuff. At some point the whole house of cards will fall apart.

This is probably why Steinbrenner's nephew is saying they're going to slash the budget significantly once he takes over the club. There needs to be more prudent fiscal responsibility and spending.