An owner paying for his own new stadium? Brilliant.

saintswhodi · 06-14-2005, 10:30 PM

Yankees to announce $800 million ballpark

By RONALD BLUM, AP Sports Writer
June 14, 2005
NEW YORK (AP) -- The New York Yankees will announce detailed plans Wednesday for a new $800 million ballpark, which would be built adjacent to the current Yankee Stadium and could be ready by the 2009 season.

The team has spent years planning the new stadium, which will have a capacity of at least 50,800 -- approximately 6,000 seats fewer than the current ballpark -- but could be expanded to about 54,000. It would be constructed in Macombs Dam Park, to the north of the current stadium, and financed by the team.

Yankee Stadium, which opened in 1923, is the third-oldest park in use in the major leagues, younger only than Boston's Fenway Park (1912) and Chicago's Wrigley Field (1914). Yankee Stadium was renovated extensively in 1974-75, but the team has long desired a modern ballpark with more luxury suites and wider concourses.

The stadium plan calls for the new ballpark to resemble the original Yankee Stadium in many of its details, and the dimensions of the playing field would be identical to the current ballpark. It would have 50-60 suites, up from 18 in the current stadium.

Yankees owner George Steinbrenner, New York Gov. George Pataki and New York City Mayor Michael Bloomberg planned to attend a Wednesday news conference announcing the stadium, Steinbrenner spokesman Howard Rubenstein said. The Yankees hope to start construction in 2006 and move into the new ballpark in 2009, an ambitious timetable that given the delays that frequently occur in construction in New York.

Approval from the state Legislature and the City Council is necessary. The state would contribute about $70 million to increase parking from 7,000 spaces to 11,000, and the city would replace the lost parkland as part of the deal. A new commuter train station and expanded ferry terminal also is part of the plan.

Just last weekend, the city and the Mets announced plans for a new $600 million ballpark next to Shea Stadium. That facility would be used for the 2012 Olympics the International Olympic Committee votes July 6 to award the event to New York.

That plan was drawn up after last week's collapse of the proposal to build a retractable-roof stadium in Manhattan for the NFL's Jets and the Olympics.

The Yankees and New York City's government agreed several weeks ago to a memorandum of understanding for the new Bronx ballpark. The team will pay for the stadium on its own, and the cost of paying off the bonds used to raise the money will be deducted from the Yankees' locally generated revenue. That will lower the Yankees' revenue sharing payments to the commissioner's office.

Updated on Tuesday, Jun 14, 2005 7:30 pm

I know this isn't football Halo, I just found it interesting a team owner would choose to finance his own new 800 million dollar stadium and not beg the state for help in getting it.

Halo · 06-14-2005, 10:41 PM

NP - you get a pass on this one. But next time I will have to beat you. I see your point, but I don't look at it like the Saints are begging (and I'm not getting into this one like a thousand times before so lets let bygons be bygons).

I read that the new Jets stadium is not as much of a done deal like people thought.

I read it's a BILLION dollar stadium

But then again it costs like a $1000 to place a 2 minute phone call from a phone booth in New York.

ScottBalot · 06-14-2005, 10:41 PM

Just curious, what NFL team has/will build a new stadium that doesn't reside in New York that will pay for the entire cost without government help?

Danno · 06-14-2005, 10:43 PM

Yankees? LOL, I'll bet their mechandising value is more than the entire Saints franchise is worth.

When the Milwaukee Brewers' owner spends 800 million on a new stadium, then I'll take notice.

Halo · 06-14-2005, 10:49 PM

Originally Posted by Danno

Yankees? LOL, I'll bet their mechandising value is more than the entire Saints franchise is worth.

When the Milwaukee Brewers' owner spends 800 million on a new stadium, then I'll take notice.

Oh yeah, that has got to be the most recognized brand in all of sports... maybe? I wonder who else.

Just curious, what NFL team has/will build a new stadium that doesn't reside in New York that will pay for the entire cost without government help?

None. I don't see teams racing to L.A. because the last I checked they wanted the NFL to pay them on top of fronting all the costs for renovations to the coloseum.

papz · 06-14-2005, 10:56 PM

Danno is correct. Look at the revenue that the Yanks pull in... it's ridiculous. TV deals, merchandise, jammed packed stadiums everyday, etc...

We a pretty small market team but I do agree Benson needs to share some of the cost with the state if he wants a new stadium or whatever.

Euphoria · 06-14-2005, 11:14 PM

But also... Benson doesn't own the Dome he leases it for the games. Steinbrenner out right will own his staduim.

saintswhodi · 06-15-2005, 09:54 AM

Danno is correct. Look at the revenue that the Yanks pull in... it's ridiculous. TV deals, merchandise, jammed packed stadiums everyday, etc...

Not directly for you papz, but anyone think the Yankees are popular CAUSE THEY WIN? Oh, I don't know, that might have something to do with it. A small part, maybe? Don't tell me about revenues when they have an owner who puts every dollar he can into making them winners. We have never been able to say that. Small market or whatever, when you WIN, people take notice, and you have an ability to gain fans outside your locale. When you LOSE, ALWAYS AND CONSISTENTLY, who is jumping on that bandwagon besides us diehards? Seems to me were we at least winners, we could be in the same boat. Didn't the Patriots owner Kraft pay for their stadium when they got a new one? I beleive he did. NE is a small market, oh, but they win, thus have geater revenues. My bad.

Euphoria · 06-15-2005, 10:34 AM

I agree... the more you win the more 'outsider fans' you win over. Example I became a Bulls fan because MJ and the fact that I enjoyed seeming them WIN. It was actually good to be on a winning side for a change, since I seem to pull for the underdog. No matter what happens Saints are an underdog. When the Saints win, get into the playoffs ect... ther are a lot more people exposed to the Saints, they take notice and root for them.

papz · 06-15-2005, 10:46 AM

You're right. There are a lot of people who love to hate George including myself, but the guy is a genius. He puts ever dollar he makes back into that team because he wants a winner. I can see where you are going with this. Ever year as the Twins win more and more games, their salary cap goes up a bit more and more. Pretty much because more people are taking notice and they make a bit more money.

This is a business though and not all people go about it the same way. He does have to make his money. But, he should invest back into his team and make it more marketable/profitable. I don't see why he wouldn't want to do this...

I was wondering... if any one of us were Benson, as an owner, would you want the state to pay you millions and millions to stay if you had the oppurtunity to do so?

06-14-2005, 10:30 PM	#1
saintswhodi 5000 POSTS! + Join Date: Oct 2004 Location: San Antonio, TX Posts: 6,941	An owner paying for his own new stadium? Brilliant. Yankees to announce $800 million ballpark By RONALD BLUM, AP Sports Writer June 14, 2005 NEW YORK (AP) -- The New York Yankees will announce detailed plans Wednesday for a new $800 million ballpark, which would be built adjacent to the current Yankee Stadium and could be ready by the 2009 season. The team has spent years planning the new stadium, which will have a capacity of at least 50,800 -- approximately 6,000 seats fewer than the current ballpark -- but could be expanded to about 54,000. It would be constructed in Macombs Dam Park, to the north of the current stadium, and financed by the team. Yankee Stadium, which opened in 1923, is the third-oldest park in use in the major leagues, younger only than Boston's Fenway Park (1912) and Chicago's Wrigley Field (1914). Yankee Stadium was renovated extensively in 1974-75, but the team has long desired a modern ballpark with more luxury suites and wider concourses. The stadium plan calls for the new ballpark to resemble the original Yankee Stadium in many of its details, and the dimensions of the playing field would be identical to the current ballpark. It would have 50-60 suites, up from 18 in the current stadium. Yankees owner George Steinbrenner, New York Gov. George Pataki and New York City Mayor Michael Bloomberg planned to attend a Wednesday news conference announcing the stadium, Steinbrenner spokesman Howard Rubenstein said. The Yankees hope to start construction in 2006 and move into the new ballpark in 2009, an ambitious timetable that given the delays that frequently occur in construction in New York. Approval from the state Legislature and the City Council is necessary. The state would contribute about $70 million to increase parking from 7,000 spaces to 11,000, and the city would replace the lost parkland as part of the deal. A new commuter train station and expanded ferry terminal also is part of the plan. Just last weekend, the city and the Mets announced plans for a new $600 million ballpark next to Shea Stadium. That facility would be used for the 2012 Olympics the International Olympic Committee votes July 6 to award the event to New York. That plan was drawn up after last week's collapse of the proposal to build a retractable-roof stadium in Manhattan for the NFL's Jets and the Olympics. The Yankees and New York City's government agreed several weeks ago to a memorandum of understanding for the new Bronx ballpark. The team will pay for the stadium on its own, and the cost of paying off the bonds used to raise the money will be deducted from the Yankees' locally generated revenue. That will lower the Yankees' revenue sharing payments to the commissioner's office. Updated on Tuesday, Jun 14, 2005 7:30 pm I know this isn't football Halo, I just found it interesting a team owner would choose to finance his own new 800 million dollar stadium and not beg the state for help in getting it.

06-14-2005, 10:41 PM	#2
Halo Site Donor MONTHLY Join Date: May 2002 Location: New Orleans, LA Posts: 20,744 Blog Entries: 45	RE: An owner paying for his own new stadium? Brilliant. NP - you get a pass on this one. But next time I will have to beat you. I see your point, but I don't look at it like the Saints are begging (and I'm not getting into this one like a thousand times before so lets let bygons be bygons). I read that the new Jets stadium is not as much of a done deal like people thought. I read it's a BILLION dollar stadium But then again it costs like a $1000 to place a 2 minute phone call from a phone booth in New York.
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06-14-2005, 10:41 PM	#3
ScottBalot Registered Join Date: Jul 2002 Posts: 87	RE: An owner paying for his own new stadium? Brilliant. Just curious, what NFL team has/will build a new stadium that doesn't reside in New York that will pay for the entire cost without government help?
ScottBalot Registered Join Date: Jul 2002 Posts: 87

06-14-2005, 10:43 PM	#4
Danno Truth Addict Join Date: Dec 2003 Location: Spanish Fort, AL (via NO and B/R) Posts: 24,723	RE: An owner paying for his own new stadium? Brilliant. Yankees? LOL, I'll bet their mechandising value is more than the entire Saints franchise is worth. When the Milwaukee Brewers' owner spends 800 million on a new stadium, then I'll take notice.

06-14-2005, 10:49 PM	#5
Halo Site Donor MONTHLY Join Date: May 2002 Location: New Orleans, LA Posts: 20,744 Blog Entries: 45	Re: RE: An owner paying for his own new stadium? Brilliant. Originally Posted by Danno Yankees? LOL, I'll bet their mechandising value is more than the entire Saints franchise is worth. When the Milwaukee Brewers' owner spends 800 million on a new stadium, then I'll take notice. Oh yeah, that has got to be the most recognized brand in all of sports... maybe? I wonder who else. Just curious, what NFL team has/will build a new stadium that doesn't reside in New York that will pay for the entire cost without government help? None. I don't see teams racing to L.A. because the last I checked they wanted the NFL to pay them on top of fronting all the costs for renovations to the coloseum.

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06-14-2005, 10:56 PM	#6
papz Problem? Join Date: Jan 2005 Location: New Orleans Posts: 11,754	RE: Re: RE: An owner paying for his own new stadium? Brillia Danno is correct. Look at the revenue that the Yanks pull in... it's ridiculous. TV deals, merchandise, jammed packed stadiums everyday, etc... We a pretty small market team but I do agree Benson needs to share some of the cost with the state if he wants a new stadium or whatever.

06-14-2005, 11:14 PM	#7
Euphoria 5000 POSTS! + Join Date: Mar 2004 Location: Hollywood, CA Posts: 7,601 Blog Entries: 5	RE: Re: RE: An owner paying for his own new stadium? Brillia But also... Benson doesn't own the Dome he leases it for the games. Steinbrenner out right will own his staduim.

06-15-2005, 09:54 AM	#8
saintswhodi 5000 POSTS! + Join Date: Oct 2004 Location: San Antonio, TX Posts: 6,941	Danno is correct. Look at the revenue that the Yanks pull in... it's ridiculous. TV deals, merchandise, jammed packed stadiums everyday, etc... Not directly for you papz, but anyone think the Yankees are popular CAUSE THEY WIN? Oh, I don't know, that might have something to do with it. A small part, maybe? Don't tell me about revenues when they have an owner who puts every dollar he can into making them winners. We have never been able to say that. Small market or whatever, when you WIN, people take notice, and you have an ability to gain fans outside your locale. When you LOSE, ALWAYS AND CONSISTENTLY, who is jumping on that bandwagon besides us diehards? Seems to me were we at least winners, we could be in the same boat. Didn't the Patriots owner Kraft pay for their stadium when they got a new one? I beleive he did. NE is a small market, oh, but they win, thus have geater revenues. My bad.

06-15-2005, 10:34 AM	#9
Euphoria 5000 POSTS! + Join Date: Mar 2004 Location: Hollywood, CA Posts: 7,601 Blog Entries: 5	I agree... the more you win the more 'outsider fans' you win over. Example I became a Bulls fan because MJ and the fact that I enjoyed seeming them WIN. It was actually good to be on a winning side for a change, since I seem to pull for the underdog. No matter what happens Saints are an underdog. When the Saints win, get into the playoffs ect... ther are a lot more people exposed to the Saints, they take notice and root for them.

06-15-2005, 10:46 AM	#10
papz Problem? Join Date: Jan 2005 Location: New Orleans Posts: 11,754	You're right. There are a lot of people who love to hate George including myself, but the guy is a genius. He puts ever dollar he makes back into that team because he wants a winner. I can see where you are going with this. Ever year as the Twins win more and more games, their salary cap goes up a bit more and more. Pretty much because more people are taking notice and they make a bit more money. This is a business though and not all people go about it the same way. He does have to make his money. But, he should invest back into his team and make it more marketable/profitable. I don't see why he wouldn't want to do this... I was wondering... if any one of us were Benson, as an owner, would you want the state to pay you millions and millions to stay if you had the oppurtunity to do so?