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OT - Yankees LOSE Money!

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Old
08-23-2006, 10:22 AM
  #1
Joe T Choker
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OT - Yankees LOSE Money!

http://www.bloomberg.com/apps/news?p...d=aZ5BrdI04Pq0

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08-23-2006, 10:28 AM
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nyr7andcounting
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They've been losing money for a couple of years now. Steinbrenner puts so much of his profit back into the team. Doesn't matter because his overall investment continues to grow.

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08-23-2006, 10:34 AM
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Quote:
Originally Posted by nyr7andcounting View Post
They've been losing money for a couple of years now. Steinbrenner puts so much of his profit back into the team. Doesn't matter because his overall investment continues to grow.
yes

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08-23-2006, 10:37 AM
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He loses money...

but can sell his franchise for several hundred million $$$. That's a fair trade-off.

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08-23-2006, 10:39 AM
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they aren't losing $$...this is just creative accounting by keeping all the $$ made by YES separate from the yankees. steinbrenner is making tons of $$. he wouldn't have made plans to build a new stadium and pay for it himself if he wasn't making money

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08-23-2006, 12:03 PM
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barnaby63
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Last year Forbes said the Yankees as a whole were worth 1 billion dollars, if put on the market.

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08-23-2006, 12:14 PM
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Last year Forbes said the Yankees as a whole were worth 1 billion dollars, if put on the market.
One of the strongest brands in the world. Unbelievable.

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08-23-2006, 12:24 PM
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One of the strongest brands in the world. Unbelievable.
Second only to Man U.

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08-23-2006, 12:53 PM
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mjdlight
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Originally Posted by barnaby63 View Post
Last year Forbes said the Yankees as a whole were worth 1 billion dollars, if put on the market.
And Steinbrenner paid $10 million ($10 million!) dollars for the team in 1973 when his group bought it from CBS.

That's what we call buying low.

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08-23-2006, 01:05 PM
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Whether he loses money or not, whether you love him or not, no one can deny that Steinbrenner is a fans owner.

Though he can be misguided, sometimes a hinderance and often just a pain, he really does want to win EVERY single year and is willing to put more money into his teams than anyone in history.

There are a lot of fans out there who would love to be able to say every year they feel the team is doing its best to win games.

At the end of the day, Steinbrenner spends his money and he also gives it to other teams as well.

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08-23-2006, 01:30 PM
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I think that someone referred to this briefly, but this is a selective truth. Yes, the Yankees team per se loses money. However, YES is a separate entity owned by the same owners that makes GOBS of money. I also wouldn't be surprised if they had a separate marketing entity that recoups all of the branding revenues and then pays the "team" a license fee. Hell, I wouldn't be surprised if the new stadium is held in a separate entity and the Yankees will pay it rent.

I'm a Yankees fan and they DO put a lot of money back into the team, but the overall entity does NOT lose money. Until you get a full picture of the ownership structure and access to the books of every company in that structure, you can't judge just how much they make (or lose). You would quite seriously require a full scale independent audit by a major accounting firm to get the real picture.

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08-23-2006, 01:46 PM
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True Blue
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Quote:
Originally Posted by Edge View Post
Whether he loses money or not, whether you love him or not, no one can deny that Steinbrenner is a fans owner.

Though he can be misguided, sometimes a hinderance and often just a pain, he really does want to win EVERY single year and is willing to put more money into his teams than anyone in history.

There are a lot of fans out there who would love to be able to say every year they feel the team is doing its best to win games.

At the end of the day, Steinbrenner spends his money and he also gives it to other teams as well.
For all the lumps that George has taken and continues to take, there is goign to come a day when he is inducted into the owners wing of the HOF. When all is said and done, he will be remembered as one of the most influential people in baseball history and one of the more prolific owners of all time, in all major sports.

Fans of other teams would kill to have an owner like him (for all the flak that said fans publicly want to give to George now). The real atrociosity in MLB is how much money that he has given (through revenue sharing) to other teams and how these owners simply pocket the cash. Fans in Minnesotta aught to be hanging Carl Pohland in effigy, instead of Steinbrenner. Here is one of the richest men in the world, and he sees fit to pocket revenue sharing money as opposed to helping his team.

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08-23-2006, 02:29 PM
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CM Lundqvist
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Quote:
Originally Posted by nyr7andcounting View Post
They've been losing money for a couple of years now. Steinbrenner puts so much of his profit back into the team. Doesn't matter because his overall investment continues to grow.
Not true, they haven't been losing money. Steinbrenner is making MILLIONS and the clubs value has increased tenfold since he became owner.

Quote:
Originally Posted by mjdlight View Post
And Steinbrenner paid $10 million ($10 million!) dollars for the team in 1973 when his group bought it from CBS.

That's what we call buying low.
Although he may not be the sharpest baseball mind, business wise, there's no one that compares to him.

Quote:
Originally Posted by Edge View Post
Whether he loses money or not, whether you love him or not, no one can deny that Steinbrenner is a fans owner.

Though he can be misguided, sometimes a hinderance and often just a pain, he really does want to win EVERY single year and is willing to put more money into his teams than anyone in history.

There are a lot of fans out there who would love to be able to say every year they feel the team is doing its best to win games.

At the end of the day, Steinbrenner spends his money and he also gives it to other teams as well.
I agree 200%. You've summed him up in a nutshell. I hate his lack of patience when it comes to winning. But I love the heart, soul, time, and effort he pours into his job, day-in, day-out. There is NO OWNER IN THE LEAGUE'S HISTORY that has cared more about his team's success than George Steinbrenner, like it, or not. The sad part is he gives out as much as he spends, but these people he's giving out to are crooks.

Quote:
Originally Posted by True Blue View Post
For all the lumps that George has taken and continues to take, there is goign to come a day when he is inducted into the owners wing of the HOF. When all is said and done, he will be remembered as one of the most influential people in baseball history and one of the more prolific owners of all time, in all major sports.

Fans of other teams would kill to have an owner like him (for all the flak that said fans publicly want to give to George now). The real atrociosity in MLB is how much money that he has given (through revenue sharing) to other teams and how these owners simply pocket the cash. Fans in Minnesotta aught to be hanging Carl Pohland in effigy, instead of Steinbrenner. Here is one of the richest men in the world, and he sees fit to pocket revenue sharing money as opposed to helping his team.
Hello, Jeffrey Loria. That guy is a CRIMINAL and should have his head on a stick paraded around Miami for what he has done there. This guy is getting money left and right from revenue sharing, and pocketing it like the ******* he is. The money's not going towards the team. The roster is depleted, and Pro Player SUCKS and NEEDS RENOVATION. Where could this money be going? They have maybe two players that make over 5 million a year on that team. I don't even think Miguel Cabrera makes that much. Willis I'm pretty sure is making 8. Carl Pohland is another one. You figure with the young talent he has on that team, he'd go out get a veteran arm, one or two bats, and make a run at a championship. But no, his greed outweighs his conscience.

These two should be jailed.

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Old
08-23-2006, 02:37 PM
  #14
True Blue
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Originally Posted by GretzNYR99 View Post
Where could this money be going?
The Eagles.

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