Cashman: Yanks winners on field, losers in wallet

[dob72]

"We're making a lot, but we're spending more than we're making," Yankees general manager Brian Cashman told Bloomberg radio for a show to be aired this weekend. Cashman declined to say how much the Yankees are losing.
The Yankees, with Major League Baseball's highest payroll, added to their deficit before the July 31 non-waiver trading deadline, acquiring big-ticket addition Bobby Abreu. The team also acquired pitcher Cory Lidle and utilityman Craig Wilson.
The Yankees broke ground last week on a billion-dollar stadium scheduled to open in the Bronx in 2009.
Cashman told Bloomberg radio that the new stadium is "vital" to helping the Yankees return to profitability.
Forbes Magazine reported that the Yankees became the first MLB team to be worth more than $1 billion with a baseball-best $277 million in revenue.
However, Forbes said the Yankees lost $50 million last season because the team paid $77 million in revenue sharing. The New York Daily News also reported in December that the Yankees lost at least $50 million and possibly as much as $85 million last season.



this is accounting smoke and mirrors. Yes the New York Yankees Baseball Club loses money. YES Network which has nothing to do with Major League Baseball revenue sharing, gets a sweetheart deal with the Yankees. YES pays the Yankees pennies, that inbalance shows up as a loss on the Yankee Ledges.

Meanwhile YES makes a ton of cash. And who owns YES?

 

[Slappy8800]

77mil is revenue sharing....i want to know what those teams who get that do with it...

 

[ShuggieOtis]

wooo hooo DAAAA BRONX! Long live big stein! 50 mil?? Thats petty change!!!! YES network rules!

 

[finfansince72]

Cashman is full of crap. The baseball owners have been crying poor for years to get public financing for stadiums, to justify ticket hikes, etc. The yanks are losing money but pull the trigger on the Abreu deal? Give me a break.

 

[dob72]

wooo hooo DAAAA BRONX! Long live big stein! 50 mil?? Thats petty change!!!! YES network rules!

the bronx lives long in Phoenix huh lmfao

 

[0000001]

Steinbrenner makes it up with his shipping business on the great lakes. Thats where his father made all their $.

 

[MikeO]

This is old news once again. For years the Yanks have been operating in the red.

For about 4 or 5 years the Yankees (not YES or anything else, just the team itself) have been losing money. But the man wants to win, so he dumps every penny into THE TEAM!!!!!! The owners priority list has WINNING at the top. Something most owners don't have.

Ya spend money to make money!! If the team stunk then YES would lose money as well. This is how business works. This is the real world people!!!!

This is what the "yankee haters" don't understand. These teams that don't spend money will always stay where they are. Until you invest in your team, and your team wins, then you will stay stuck in the mud. Spend money on the players and get results then you start making money.

 

[MikeO]

77mil is revenue sharing....i want to know what those teams who get that do with it...

Well in Cincy a couple years ago the owner took his share and made the cup holders in the stadium bigger!! :shakeno: (seriously its documented)

Which is a friggin joke on every level.

What big acquisition has KC made in the last decade because of the revenue sharing checks they get??? Exactly!!!

 

[finfansince72]

This is old news once again. For years the Yanks have been operating in the red.

For about 4 or 5 years the Yankees (not YES or anything else, just the team itself) have been losing money. But the man wants to win, so he dumps every penny into THE TEAM!!!!!! The owners priority list has WINNING at the top. Something most owners don't have.

Ya spend money to make money!! If the team stunk then YES would lose money as well. This is how business works. This is the real world people!!!!

This is what the "yankee haters" don't understand. These teams that don't spend money will always stay where they are. Until you invest in your team, and your team wins, then you will stay stuck in the mud. Spend money on the players and get results then you start making money.

Easy to say that when you have the YES network to make up the difference. You can't be serious in the assertion that if the Royals or Brewers or the like spent 180million on payroll they'd see a benefit right? I mean thats totally insane, the owner would be filing bankruptcy in a year after losing 120 million.

 

[DolfanDaveInMI]

What big acquisition has KC made in the last decade because of the revenue sharing checks they get??? Exactly!!!

They paid Reggie Sanders $10 million to bat cleanup. :goof:

 

[MikeO]

Easy to say that when you have the YES network to make up the difference. You can't be serious in the assertion that if the Royals or Brewers or the like spent 180million on payroll they'd see a benefit right? I mean thats totally insane, the owner would be filing bankruptcy in a year after losing 120 million.

No, maybe not 120 or 180.........but how about spending 90 mill? Or 75 mill? (and the YES network has only been around a couple years now, it hasn't been around since the begining of time)

This is business you gotta sell a hot product. If the team is good they will sell more tickets, more merch, and maybe work up to getting their own network. You can't sell a doormat product. Steinbrenner isn't anywhere NEAR the richest owner in baeball. That Twins guy is a friggin billionare. These owners want handouts. They don't want to build up a brand. Build up a business.

The reason the stadium for KC is empty is because the team stinks!!!! Your telling me if the Royals weren't in 1st place they wouldn't be selling out games? They won the world series in 1985 and played in front of a packed house every night. Your telling me everyone stopped watching?????? Spend some money and get your product better. Create a product people want to see. This is how the real world works!!!!

And the revenue sharing in general is just stupid. It's like McDonalds cutting a check to Burger King. Is it McDonalds fault that Burger King has less restuarants, less money to spend, and can do less things financially??? Should they be FORCED to cut a check to their competition because their competition is incompetent??????? The fact these billionare baseball owners are getting WELFARE from other owners is stupid and yet they still complain!!!

 

[MikeO]

They paid Reggie Sanders $10 million to bat cleanup. :goof:

I said big!

And if you consider that big that is a poor judgement and a poor use of $10 mill

 

[UCFinfan86]

And the revenue sharing in general is just stupid. It's like McDonalds cutting a check to Burger King. Is it McDonalds fault that Burger King has less restuarants, less money to spend, and can do less things financially??? Should they be FORCED to cut a check to their competition because their competition is incompetent??????? The fact these billionare baseball owners are getting WELFARE from other owners is stupid and yet they still complain!!!

This isn't the fastfood market, this is a professional sports league. Now i dont blame Steinbrinner spending the money, i blame MLB for not having a salary cap like NFL.

 

[dob72]

[mod]Do not attack another member in this community. If someone aggravates you, put them on ignore.[/mod]

Easy to say that when you have the YES network to make up the difference. You can't be serious in the assertion that if the Royals or Brewers or the like spent 180million on payroll they'd see a benefit right? I mean thats totally insane, the owner would be filing bankruptcy in a year after losing 120 million.

its also easy to say when ur in the biggest market in sports {edit}

 

[MikeO]

This isn't the fastfood market, this is a professional sports league. Now i dont blame Steinbrinner spending the money, i blame MLB for not having a salary cap like NFL.

MLB is a business just like every other business. I understand why they do the revenue sharing aspect. Because the union wants that money to be spread so more teams can spend more and the players get richer. So I understand it from that perspective but it doesn't make it right. I think the owners are in for a fight next time around though. If MLB is doing a huge crackdown on steroids, the union will want something in return and making sure revenue sharing money is going where it is supposed to go (to the players) is one thing the union will go to the mat over.

and the salary cap..........never gonna happen in MLB. They say never say never, you can say NEVER on this one. NEVER!!!!!!!!