Wednesday, January 14, 2009

Heated hearing over yankee stadium

I saw an intresting article today here dealing with city funding for the new Yankees Stadium. The Yankees are requesting an additional 430 million dollars in bonds to finish the stadium, but are facing strong resistance from Assemblyman Richard Brodsky of Westchester County.

A great quote I found in the article was "But the Yankees say Brodsky is a hypocrite because while he's against tax incentives for the Yankees he has also voted for tax breaks for Monticello Raceway and video terminals for Yonkers Raceway." Being a resident of Westchester county and living roughly 20 minutes away from Yonkers Raceway I can tell you that the hayday of Yonkers Raceway is long gone, as is the hayday of horse racing and any money invested into these raceways is potentially a waste.

Now lets say per chance the city rejects the Yankees request for additional funding what possible implication could this have for the Yankees in the future? Keep in mind they have already cut payroll by between 20 and 30 million dollars this year(assuming no more signings) and that 430 million dollars is not that much less than one year of Yankees revenue.

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