pyridium discount code what is hoodia in green tea clonidine side effects autism cytotec drug schedule buy artane without a prescription from canadian pharmacy is fincar legal in uk buy no prescription fast delivery accutane mg nizagara uk on line what is yagara dog amoxicillin no prescription how much does prandin cost generic zyban no prescription low dose amitriptyline weight cheap accutane acne severe etodolac online coupon code adalat oros costo buy nitroglycerin without prescription getting zanaflex in australia stieva-a side effects giant eagle pharmacy $4 generic where to purchase fluoxetine moduretic tablets for dogs ordering generic cialis online prescription clomid no rx cabgolin 0.5 mg zovirax generic wikipedia drugs buy procardia xl orlistat tablets 120mg buy levitra super active quick allegra d shortage common birth control pills brand names aciclovir echeck buy brand elocon jogos do friv 10000 prednisolone cost in india depo provera reviews 2010 hoodia visa promethazine dosage in children flovent coupons gsk where can i purchase entocort ordering cystone buying glycomet in manchester where can i purchase aciclovir generic for ranitidine roxithromycin suppliers overseas illegal buy rx online biaxin online in us cipla finpecia uk canadian alliance of british pensioners ottawa levitra super active generic for viagra from pfizer in pakistan proventil coupon printable acai max dose over the counter ciprofloxacin hcl purinethol brand positioning buy abilify 20 mg prescription order lamisil from orlistat side effects liver xenical prices at costco why has brafix been discontinued what is the average cost of cymbalta birth control pills phenergan wellbutrin tablets xenical 120 mg dose current price brahmi atomoxetine review cialis daily use formulary canadian donde puedo comprar effexor xr forzest tablets 40mg buy ephedraxin 50 viagra soft cost comparison class action lawsuit zoloft pregnancy indian pharmacy tadapox diabecon canada prescription kamagra dosage recommended generic trazodone sleep can i buy cytotec over the counter in the philippines zovirax cream dosage buy cleocin gel 40 what does meclizine treat can zetia get you high minocycline manufacturer in india what does allegra drug antihistamine canada price buy lamisil top 5 drugstore mascaras atorlip-10 canadian medications without prescription indian pharmacy depakote scadenza brevetto viagra in italia arimidex over the counter australia finax online meds keflex discount voucher doxycycline hyclate side effects Purchase proscar 1 mg levitra plus next day shipping all types valtrex pills can i buy atarax in europe cytotec misoprostol precio venezuela buy vpxl online thru paypals generic elocon us rumalaya for dogs buy desyrel without a script order dostinex 1mg side effects of prednisone on fetus can buy anacin online xalatan price canada buy cheap trandate where artane clomid for women who already ovulate cost of minocycline 100mg low cost myambutol metformin rxp can hyzaar get you high what does benemid do paroxetine price walmart proscar online canadian online pharmacy for aleve can you get zocor where can i buy acai berry supplements in canada cymbalta cod overnight delivery how much is apcalis sx tablets discount procardia reglan next day cheap genuine amoxil online amitriptyline 20 mg ibs what is the meaning of allied health professionals what is cytotec 200 microgram tablets used for purchase torsemide online yasmin dose birth control revatio viagra prevacid pharmacy prices list where can i buy alli diet pills in england purchase xalatan cheap crestor without prescription miami ginette-35 uses medication nitrofurantoin price increase how to pay by check on paypal diclofenac combination paracetamol can you order viagra plus lipitor discount card 2010 stilnox online order viagra jelly overnight suhagra mail order india what does taking baclofen feel like buy celexa 80 mg online buy mevacor online amazon buy amaryllis plants 100mg clomid ovulation mifepristone misoprostol buy uk order inhalers online no prescription order zoloft online without prescription buy betnovate cream uk buy starlix mexican pharmacies plavix for sale uk 450 mg wellbutrin weight loss cost of celexa in ontario flovent inhaler price us ethionamide online canadian zebeta prescribing information buy generic protonix where to buy yasmin in canada safely diclofenaco 50 mg dosis nin~os ezetimibe 10 mg day astrazeneca nexium discount pulmicort daily use reviews buy goldshield eltroxin online walmart actos prices list of tesco stores selling brand amoxil cheap aciphex 20 mg how to buy saw palmetto buy revia prednisone overseas buy zyban without rx buy mentax pills online list of all oral birth control pills order avodart rx uk online pharmacies guide where purchase glyset cheapest actoplus met paypal cheap rx glasses nyc valtrex tablets pregnancy where to buy gasex online usa diltiazem mechanism of action free nexium medicine lioresal canada head office acivir no prescription overnight delivery doryx and drinking alcohol best natural viagra pills worldwide pharmacy citalopram lidocaine infusion side effects prometrium in the uk now domperidone and drinking alcohol coumadin in the uk now snovitra super power refill pack order viagra from india without prescription trental over counter my buspar coupons viamedic ad girl vermox buy without is aldactone available on line in canada has best price cialis does viagra really work erection unisom drugs online purchases mylan a1 pill is xanax online sale of lotrisone comprar exelon online buy nizoral 4 shampoo online renagel drug store online naltrexone hydrochloride information most reliable place to buy lipitor online amoxil for men sale in uk cialis bph package insert tenormin pill canadian starting clomid without period horse ivermectin for pigs arimidex pct forum how much is generic singulair at walmart medicine calan products buy online long time side effects cipro cardura pill shortage cialis reviews 20 mg chloroquine prices usa buy fosamax greece can you order aciclovir rx relief pharmacy discount card necesito comprar cytotec en venezuela elimination half life of levothyroxine habana hospital pharmacy inc furosemide medicine online blood diovan medication pressure combivent lowest price do keflex pills smell order plavix without prescription purchase effexor xr on line in uk keppra 100mg tablet buy dipyridamole without a script divya pharmacy brahmi ivermectin horse wormer for dogs pharmacy that sells cardizem vermox plus contraindicaciones alcohol ivermectin for horses side effects flomax shortage 2012 aciclovir 200-1a pharma 100 buy arimidex paypal side effects of lexapro in men post cycle therapy cleocin augmentin online legally us online pharmacy no prescription brand levitra can i take other medications with claritin cost of viagra in spain levothroid lawsuit medicine minipress xl reviews on celexa is zyrtec a class b drug can you buy dulcolax in ireland pletal australia price can you buy combivent over the counter in germany cost of plavix generic order metoclopramide pills azulfidine roche precio argentina buy diakof pills online how long to take cephalexin for uti buy nitrofurantoin tablets online buspar usa sale clomid success stories-pregnancy info wellbutrin australia florida alliance for renewable energy cheap allegra d 24 hour relief all types celadrin pills avodart side effects in men brand celebrex buy where to buy zithromax drugs online synthroid in the uk now anafranil drugstore cheap viagra super active india can you take 30 mg cialis bactroban canada no prescription malaseb wipes for cats can you get fertility drugs over the counter discount canadian pharmacy finax buy femara letrozole tablets printable alli coupons 2010 original silagra online zebeta lawsuit canada where to buy calandre perfume buy 120 uk alli diet lopid tablets for purchase cheapest place to get accutane side effects of aricept 23 vasotec without prescription miami what is the daily dosage for propecia how to take prometrium to get pregnant buy clozaril overseas zyrtec over the counter seroquel 25mg can you only get retin-a 0,025 on prescription phenergan low cost free birth control online no prescription allopurinol tablets usp monograph united states based online pharmacies paxil usa cvs prices lamisil cream for sale buy glucophage with visa albenza online usa safe place order zithromax best high blood pressure medication cymbalta weight gain the drugstore pharmacy is levitra better than viagra discount phenergan mg kohler med cabinet florida state alligator facts canada drugstore neurontin discount coupons best online pharmacy generic didronel is ditropan available on line in canada where to buy cialis in kl best place to buy alligator clips them mircette no rx suhagra lawsuit diamox online cheap pariet canada no prescription generic viagra review forums online pharmacy to buy florinef endep without rx walmart pharmacy hours peoria il cheap kamagra gold usa how to treat chlamydia and gonorrhea buy asics online usa to australia cheap nizagara free delivery where can i buy levothroid tablets is there a stimulant like viagra for women when will diovan hct become generic nitroglycerin tablet sale actoplus met in the uk safe glucotrol no prescription is mail order zantac safe pharmacy that sells trandate cialis dosage daily use order triamterene online uk levitra professional by mail guaranteed can you get high off omnicef what is purim about non prescription prograf pharmacy purchase abilify cheap dipyridamole suppositories buy online rumalaya liniment purchase how to purchase albendazole top rated over the counter e.d. pills entocort steroid medicine donde puedo comprar las pastillas de cytotec what is better for hair loss avodart or propecia ordering accutane india finax overnight delivery moduretic uses medication cafergot formulation allopurinol suppliers overseas original compazine online buy risperdal from canada tetracycline price canadian asthma inhalers that dont require prescription cheap phenergan india buying paroxetine in manchester what does sarafem treat very cheap trazodone buy amoxil online no prescription uk how to purchase dramamine online hydrochlorothiazide to buy in england prednisone asthma children purchase pariet mg citalopram common side effects renagel usa cvs prices avapro dosage high endep side effects australia flagyl er online pharmacy uk india pharmacies online that sell brand viagra side effects of claritin diarrhea augmentin 625 duo india in order to prove that motrin and ibuprofen are substitutes one should test the brand tulasi buy haridra coupons where to get kamagra oral jelly cialis sublingual discount voucher where to purchase diclofenac how much does avodart cost missed clozaril doses generic clozaril paypal allopurinol generico italiano buy zanaflex online india orlistat in stock generic drugs for flomax where to get live scan in petaluma ca xeloda non perscription countries us online pharmacy no prescription benzac buy stromectol 100mg online exelon shop net can you buy avandamet online safe place order vermox lioresal 40mg advantage of atorvastatin or simvastatin billig lopid online kaufen nexium store interaction drugstore prescription drug celebrex side effects cost of erythromycin ophthalmic ointment unisom express canada nizoral anti dandruff shampoo cvs buy hydrochlorothiazide pills in the uk what drug category is norvasc para que es omifin 50 mg buy cialis super active discount resources for cordarone viagra professional women buy wellbutrin lawsuit 2012 over the counter claritin dosage erythromycin discount no prescription arimidex on line for sale no script order seroquel xr online what is diclofenac gel tablets cheap buy skelaxin online without difference between coumadin generic warfarin cipro online overnight shipping para que sirve el medicamento aciclovir en crema actos drug prices clomiphene citrate pregnancy success imitrex pills cost supreme suppliers sagar avenue amoxil legal in england yeast infection pills over the counter for men meclizine hydrochloride in canada is toradol 10 mg a narcotic pastas para adelgazar xerograx cheap generic viagra professional best place to buy revia generic name for prilosec otc no rx aleve online cheap kamagra sale atorlip-5 in croatia flovent women buy tadalis sx buy canada valtrex coupons 2010 cheap acivir pills buy online how much does cialis daily cost where to buy phenamax revia capsules colchicine dosage fmf bentyl drugstore methotrexate from china cialis 10 mg for sale walgreens mail order pharmacy keflex 250 mg alcohol tofranil without script liquid dramamine review resources for lady era lamisil over counter medicine aleese birth control online without a prescription erythromycin at discount pharmacies buy zerit greece can order revia canada buy dramamine liquid revatio cost comparison generic viagra information on robaxin medication buy abilify generic naprosyn 250 mg tabletta where purchase alesse atarax hydroxyzine hydrochloride buying snovitra super power in manchester lotensin order by phone genuine viagra uk suppliers best place buy omnicef what is the generic name for januvia cheap shallaki buy online claritin online ordering vermox dosage ireland the online drugstore aricept albuterol sulfate inhalation aerosol side effects ponstel side effects uk ovary pain after ovulation on clomid craigslist northern virginia usa how to use lotrisone zoloft echeck buy amantadine perth australia flagyl er cheap uk to buy diltiazem cheap viagra uk only dapoxetine online overnight shipping como comprar florinefe venlor cheap price coreg where can i buy buy venlor online cheap zithromax legal us what is astelin pills used for buy seroquel online no prescription canada sumycin generico online cost of calcium carbonate in india overnight pharmacy cheap bentyl view topic zyprexa with prescription uk cheap alesse online pharmacy mexican flomax accutane dosage mg anti anxiety drugs no side effects what is the medicine carafate used for buying propecia cheap online lasix injection im zentel prospect sirop zebeta medicine buy lanoxin 100mg online best place buy trileptal acticin no prescription needed himcolin pills does cialis 2.5 mg work flagyl er comprar cleocin t topical solution over counter purchase depo provera shot paypal buy now button with options viagra super active over the counter drugs aceon online uk atrovent nasal spray uk maximum dose of wellbutrin xl legal buy prograf online canada generic urispas in usa menosan pas cher much does paroxetine cost without insurance sibutramine 15mg buy slow release metformin canada can zithromax be purchased over the counter planes medicos de swiss medical buying brand viagra online can i get allegra over the counter buy pink viagra for women discount canadian pharmacy blopress dosage azithromycin cure chlamydia ketoconazole hair loss women order vpxl online without rx fluoxetine order online lov cost paroxetine us online pharmacy no prescription valtrex doryx reviews acne.org buy brand levitra 200 where can i get cialis online side effects of amoxicillin and clavulanate potassium 875 mg side effects of baclofen pump therapy antibiotic doxycycline and alcohol non prescription anti nausea medicine cheap pain meds online no prescription where can i buy differin clomid ovulation day 9 worldwide pharmacy flovent zyban visa long time side effects brahmi top 10 online haldol sites stieva a tretinoin cream 0.025 overseas pharmacy no prescription oxytrol non persciption suprax himalaya evecare medicine buy xeloda pills online what is the medicine cymbalta used for can buy ventolin over counter france quantity aspirin most over counter aspirin products lamisil online terbinafine antifungals nymphomax generic reviews what are the common side effects of depo provera plendil limited india doxycycl hyc 100mg tab for acne metronidazole antibiotics for bacterial infection pharmacy diet pills kamagra oral jelly india manufacturer best place to order viagra sublingual in us safe amoxil buy coumadin on the internet buy micronase from canada arjuna no prescription overnight delivery pilex himalaya use hospital pharmacy jobs buy lady era mexican pharmacies roxithromycin tablets 300mg used buy-viagra-through-paypal german remedies goa snovitra super power overnight pharmacy what is meclizine 12.5 mg why is there a shortage of acivir pills abilify 10 mg vidal augmentin es rxlist sildenafil citrate tablets 100mg malegra pro 100 cam you buy diflucan over the counter in canada altace canadian pharmacy can you buy citalopram over the counter best place to buy celexa without a prescription
Home Pete Toms Are the Yankees a Tarnished Brand?

Like Shoot to Thrill - An AC/DC Tribute on Facebook!

An authentic tribute of AC/DC that covers the best of the Bon Scott era and the best of Brian Johnson's material

Who's Online?

We have 487 guests online

Atom RSS

Are the Yankees a Tarnished Brand? PDF Print E-mail
User Rating: / 24
PoorBest 
Pete Toms Article Archive
Written by Pete Toms   
Monday, 09 March 2009 23:45

Yankees

Could the Yankees brand be
tarnished?

The 2008 postseason was the first since 1993 (1994 excluded due to the obvious) not to include the New York Yankees. The 2009 Yankee season offered much promise, however. A number of expensive contracts had terminated (Giambi, Abreu, Pettitte, Mussina, Pavano), and that, combined with the additional revenues to be generated from the new Yankee Stadium led to much optimism concerning future fortunes, on and off field. The Yankees did the expected and dominated the free agent market, signing Sabathia, Burnett, Teixeira and re-signing Pettitte. The FA spending spree prompted some owners to publicly express their support for the implementation of a salary cap. The “Evil Empire” was expected to rule again.

But somehow, that all seems a long time ago. More recently the Yankees have encountered a series of surprises and disappointments off and on the field.

  • The recession diminished the anticipated demand for luxury suites and premium seats at the new stadium
  • The BofA sponsorship deal – anticipated to generate roughly $20 million per season – collapsed
  • The credit crisis increased stadium financing costs

During the same period, a Yankee backlash spread throughout NYC politics and the Yankee fandom, aided by a cooperative local press. And to top it off, their star player, well....Somehow, the excitement and anticipation that should accompany the opening of the new Yankee Stadium seems lacking. What should be a period of great optimism and enthusiasm has instead been replaced with cynicism and resentment.

The financing and construction of the new Yankee Stadium was expertly conceived and executed. The process played out over many years and in the end the new stadium received very substantial political support.  The Yankees obtained a favourable ruling from the IRS which allowed them to finance the stadium construction through PILOTS. The municipally issued bonds – where the Yankees acquired the financing for the bulk of stadium construction costs – are tax exempt (ie cheaper). The Yankees received public land to build on and NYC bureaucrats were influenced to inflate the real estate value of that land in order to benefit financing. The new stadium does not pay property taxes because it is owned by NYC.  The Yankees do not pay rent to NYC but instead make “payments in lieu of taxes”, which pay for the municipal bond financing. NYC invested hundreds of millions of dollars in infrastructure (transit, parking, replacing parkland) to support the new stadium.

Select Read More to see the rest of this article

But again, that seems a long time ago. More recently, NYC politicians are increasingly eager to be disassociated from the Yankees and are sometimes openly hostile towards them. In January, The Biz of Baseball reported on the political backlash in NYC over the second round of municipal bond financing for the new Yankee Stadium. Mayor Bloomberg’s office forfeited a luxury suite at the new stadium after a backlash stemming from the publishing of emails which demonstrated that Bloomberg staffers had vigorously lobbied the Yankees for a suite. City Comptroller and NYC mayoral hopeful William Thompson denounced Mayor Bloomberg over his support of the new stadium. (In 2006 Mr. Thompson voted in favour of issuing the initial – and larger - round of bond financing, approximately $ 1 billion) Last week, State Assemblyman Brian Kavanagh introduced a bill requiring that stadiums receiving public contributions have a minimum percentage of “affordable prices”. The Yankees are the principal (if not sole) target of Mr. Kavanagh’s bill And Assemblayman Richard Brodsky and Yankees President Randy Levine continue a very nasty, very personal and very public feud over the City’s role in financing the new stadium (Brodsky is also aligned with Kavanagh on the “affordable prices” issue)

Of more importance to the Yankees than the admonishments of local politicians is the widespread anti Yankee sentiment amongst rank and file fans. Instead of excitement about the new stadium and free agent signings, Yankee blogs, message boards and newspaper reports are rife with the comments of angry fans expressing their outrage over how and where their seats have been “relocated” in the new stadium. Jay Jaffe, a partial plan buyer at the old stadium for many years, described his reaction to the seating options offered him in the new stadium:

It's not entirely clear what's happening here, but one can hazard a guess that the economic crisis has driven down the demand for those $350-per-game seats among the corporate classes, that the average fan is wary that he'll actually be served a large enough quantity of caviar in a Yankees mini-helmet to justify that kind of three-figure expense for a trip to the ballpark, and that the team is shockingly out of touch with a fan base that it's trying to bully into spending beyond their means during hard economic times.

From Richard Sandomir:

Jonathan Fox of Tenafly, N.J., said he rejected being moved from the upper deck, usually behind home plate, where he had a 20-game plan costing $60 a ticket, to $70 seats near the right-field foul pole in a 12-game plan.

In an e-mail message, Fox wrote: “While cloaking the move to the new stadium in a lot of propaganda about doing it all in the interests of a better experience for fans and a boon to the Bronx, the move was really about selling slightly fewer seats at a gigantic price premium, geared to corporate wallets and hoping to capitalize on the ‘bubble years’ appetite for premium-priced tickets to sports events.”

He added, “We’ll be watching from great seats in our living room.”

The new Yankee Stadium was designed to capitalize on a pre recession NYC economy. Again, that seems a long time ago. The new Yankee Stadium has a much reduced seating capacity but a much bigger footprint. The bigger footprint is, in large part, to accommodate the greatly increased numbers of luxury suites and premium seating. The WSJ reported on how the climate has changed for the Yankees. “When the Yankees broke ground on the new Yankee Stadium in August 2006, home prices were still rising, stocks were still climbing and Lehman Brothers was still a pillar of the Wall Street establishment. Back then, selling 4,300 premium seats to 81 home games a season seemed like a reasonable objective.” Newsday reported, “Lonn Trost, the team's chief operating officer, acknowledged the recession has had an effect on the pace of sales for the 4,000 or so seats labeled "premium," at prices from $350 to $2,500 per game.” The Biz of Baseball reported last week that, “In January the Yankees confirmed that they had contracted with a “Manhattan residential real estate brokerage” to assist in the marketing of premium seating.” Full and half page newspaper ads promoting Yankee tickets is a recent and definite indicator that the Yankees are facing unforeseen marketing challenges.

The negative impact of the recession on the Yankees is not limited to diminished demand for expensive seats. The credit crisis increased the stadium construction borrowing costs. Bloomberg reported on how changes in the municipal bond market affected the Yankees second round of financing. “The New York Yankees sold $259 million of bonds at yields two to three percentage points higher than the baseball team’s first round of city-approved tax-exempt financing to finish its new stadium in the Bronx.”

The recession also cost the Yankees a $20 million per year stadium sponsorship with BofA. Advertising is distressed across all media but the collapse of the Yankees/BofA deal could be attributed to more than just dollars and cents. BofA spokesman Joe Goode said, "We recognize that our decision not to pursue a long-term partnership with the Yankees reflects a lost revenue opportunity for our company, however these are unprecedented times that perhaps call for some very difficult decisions," Mr. Goode was probably referencing the public bailout of BofA (amongst others) and the backlash against “TARP funded” sports sponsorships. From the WSJ, “Bank of America spokesman Joe Goode said the decision to walk away from the negotiations was due in part to the economic environment and "the mood of the country."

On the field, the Yankee brand has been tarnished (rightly or wrongly) by A Rod. A Rod’s $300 million dollar contract was justifiable for the Yankees because of two reasons. 1. He would sell out tickets and luxury boxes at the new stadium during his pursuit of the HR record. AND he would do it as a “clean” player. In short, he would be the next Yankee icon. 2. The same pursuit would be of great value to YES. Again, somehow that seems a long time ago. Now the Yankees have hundreds of millions of dollars committed to an unpopular superstar who they can never portray as “good” to Bonds “evil”. Serious questions surround his long term health, particularly minus PEDs which have been credited with contributing to the extraordinary success of some superstar players at relatively advanced ages (Bonds, Clemens). Subsequent to the announcement of A Rod’s injury, some pundits are suggesting that the loss of the Yankees premier player and arguably MLB’s best player is actually a postive. (See here and here)

In the short term, winning is marketing. Much of the complaining about seat relocations, public handouts to billionaires paying millionaires and a cheating superstar, can be overlooked if the Yankees win. But as defined by Yankee fans, winning means winning it all. Long term, is what the Yankees are selling out of step with the zeitgeist? Tom Van Riper wonders, “Sure, the economic slump will only last so long, but some experts think the shock and suddenness of the global financial crisis may have shifted consumer attitudes permanently. For all but the wealthiest, the luxury sports experience could be out for a long time. That means a lot of $1,000 tickets and personal seat licenses could go unsold and unpopulated for a very long time.” That, not A-Rod, is the Yankees’ biggest problem.


Pete Toms is an author for The Biz of Baseball and a staff member of the Business of Sports Network. He can be contacted at This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 
 
Banner

Poll

Should MLB Force Jeffery Loria to Sell the Marlins?