As usual, the New York Post - the official carrier of billionaire water - today announces the Yankee plight. (Emphasis is mine.)
Yankees team owner Hal Steinbrenner is making a new pitch to return the team to profitability. With interest rates hovering near record lows, the team is seeking to refinance more than $1 billion in debt that went toward building Yankee Stadium, which opened in 2009.
Shaving perhaps as much as $10 million annually from the stadium loans could make the team profitable, said a source familiar with the team’s finances...
The Yanks are roughly breaking even now. That’s just the team and doesn’t include other businesses, such as the YES Network or Legends Hospitality.
Wow. Some nameless Yankee lickspittle took time out to discuss how expensive it is to own a team. Dear God, it must be hell, paying the help all that money.
The history of baseball is owners pleading poverty. They never have enough pitching, and they never make any money. Keep in mind that Yes Network has been valued at more than the Yankees. God knows how much money Hal Steinbrenner rakes in from that and Legends Hospitality. Even if the nameless source is telling the truth, he is conveniently burying the gold mines that exist for Food Stamps Hal.