From the Daily News:Everyone knows private money-making operations have exploded in our parks under Bloomberg. Fancy new restaurants, food kiosks, green grocers, bike rental and private sporting concessions - you name it.
So how could total income from all this business activity be falling?
Well, it turns out that Shea and the old Yankee Stadium - both of which sat on park land, and were owned by the city - were the Parks Department's biggest revenue generators.
Under the old Yankee Stadium deal, the city was assured a percentage of gate receipts, a percentage of food sales, even a percentage of the team's cable revenue.
Because of that, the old stadium produced as much as $15 million a year for Parks - even after deducting costs for stadium upkeep.
Likewise, the Shea Stadium deal generated as much as $9 million annually for the city.
As recently as 2008, the two ballparks represented nearly half of the $51 million in concessions revenue generated by the entire Parks system.
On top of that, the city was taking in an additional $6 million annually from parking fees at Shea and the old Yankee Stadium.
Once the new ballparks opened, all that revenue disappeared - even the parking money.
Today, the Mets keep all their parking revenue. Meanwhile, the Yankee Stadium garages, run by an independent firm, are nearly bankrupt and may never produce the $3 million annually they agreed to provide the city.
This loss of $30 million each and every year is a hidden cost to taxpayers from the new ballparks.
In other words, the Mets and Yankees save millions and the rest of us make it up with huge fee hikes.
12 comments:
{{{Everyone knows private money-making operations have exploded in our parks under Bloomberg. Fancy new restaurants, food kiosks, green grocers, bike rental and private sporting concessions - you name it.}}}
Yup overpriced crap for 20 somethings working on Wall Street (who can afford this and pay Manhattan rent) & trustafarian transplant kids from the midwest... Two reasons why I got the h**ell out of NY..
The reason that these teams get away with this is that sports are holy -totally tied up with our concept of masculinity.
Sports fans never grow up, I see it everyday in my restaurants, boys minds in adult bodies, screaming at the TV's and bragging about how "we" will beat 'em etc.
Most of these assholes couldn't even fit into a uniform.
Against this background, these team operators are able to hold cities hostage with the threat of moving and no pol want to be the "guy who let the Yankees or Mets go".
I'd call their bluff. ANY team that leaves NYC loses at least 40% of it's value...and there would be no shortage of other owners eager to gain that value and prestige by relocating here.
I see the Islanders are trying to extort a new arena in Nassau.
Your turn suckers.
I know it was posted before but this is a blast from the past...2004. Seems as relevant as ever!
http://www.youtube.com/watch?v=wJgmME5l_Os
Good old Lyin' Mike. Who didn't see this coming?
Probably doesn't matter since the Muts are probably going to go under within the next few years, and shitty field will be abandoned and left to fall apart, just like every other poorly planned out construction project in Queens in the last few years.
The general consensus is that new ball parks are food courts with a baseball field attached.
What 2 terms should never be used in the same sentence???
Wait for it...
Wait for it...
"Honesty" and "Michael Bloomberg"
The city should have forced the teams to renovate rather then destroy and rebuild..doubleday wanted to renovate shea and wilpon and bloomturd wanted a new stadium..this country can always find money for pet projects but never for things that are truely needed..
i am a mets fan and a queens resident as well as a city employee and am unable to afford to attend the games due to the fact that the ticket prices are so high, what a fuc44ing joke
Lt's not forget Dinkins giving away prime Flushing Meadows park space to USTA, signing the deal on his last day in office, 99-year lease.
The Mets aren't going under or anyplace. There's always going to be someone willing to buy in and keep the team afloat.
There's always going to be someone willing to buy in and keep the team afloat.
Yeah! After all, my turds float!
Bank bail out economics - the wave of the future. The rest of us might as well reconcile ourselves to being peons - we sure are getting peed on!
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