Financing Yankee Stadium

Term Paper # 99256

Business > Finance, Investment and Banking
Sport

This paper discusses the new Yankee Stadium for the New York Yankees baseball club.

1,123 words () | 5 sources | MLA | 2007 United States

Paper Summary:

This paper evaluates the positive and negative aspects of the new Yankees Stadium project. The paper looks at the contributions of the city and the Yankees organization. The paper examines the financing strategy involved. The paper concludes that while most parties agree that the Yankees organization is good for the city and state, the cost of keeping the organization in New York City is difficult to justify in terms of a pure cost-benefit analysis.

Outline:
Overview
Employment Creation
Positives & Negatives
City Contribution
Yankees' Contribution
Financing Strategy
Conclusion

From the Paper:

"A new Yankee Stadium for the New York Yankees baseball club has been in consideration for many years but was not officially announced until June 15 of 2005. This baseball stadium is an open air stadium with a seating capacity of 51,000 and is scheduled for completion in April of 2009 ("Yankee" par.1). The new stadium is located adjacent to the present Yankee Stadium and is but a portion of a larger redevelopment project for that area. While the architect is HOK Sport located in Kansas City, the developer has not been selected yet. The overall cost of the project is expected to be approximately $1.02b in a mixture of public and private financing (Ozanian). One major emphasis in planning, design and construction of the new Yankee Stadium is that its exterior closely resembles that of the original."

Sample of Sources Used:

Block, Valerie. "New York, New York." Crain's New York Business, 21/9(2005): 6.
"Line it Up." Long Island Business News, 53/19(2006): 10A.
Ozanian, Michael and Lesley Kump. "Steinbrenner's Tax Shelter." Forbes, 177/10(2006): 60-64.
Weinberg, Philip. "Eminent Domain for Private Sports Stadiums: Fair Ball or Foul?." Environmental Law 35.2 (2005): 311+.
"Yankee Stadium Won't Be the Same." The Washington Times 16 June 2005: C01.