22 April 2009

NEW STADIUM MEANS END OF YANKEE TAX

The days of the Yankees paying into MLB's luxury tax (AKA "Yankee Tax") system seems to be over.

According to Forbes.com:

"The new stadium also means the Yankees will have to hand over a lower percentage of their revenue to rivals.....MLB permits teams to deduct stadium-operating and debt expenses from revenue before calculating the amount the league will take from them to subsidize other teams. Last season the Yankees had to hand over $95 million to the league so it could be distributed to teams like the Florida Marlins, Pittsburgh Pirates, Kansas City Royals and Tampa Bay Rays. In the new stadium the Yankees' deductible expenses will be around $100 million, enough to wipe out the windfall in revenue."

That is bad news for those teams that like to stick the Yankee money in their pocket, do not improve their teams and blame the Yankees.

They will still cry about the Yankees, but they will need to find another way to line their pockets.

http://nyyu.blogspot.com

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