Boondoggle in the Bronx

Neil DeMause nicely sums up why the new Yankee Stadium is nothing to celebrate:

“The Yankees deal actually manages to be both the largest team expense on a stadium in history, and the largest public expense on a stadium in history, somewhere in the neighborhood of $1 billion. The city gets no part of the new revenues the Yankees will reap from the stadium; the jobs created are virtually all part-time, and largely cannibalized from other stores and restaurants in the surrounding area; Bronx residents lost their only large neighborhood park [until the old Yankee stadium is demolished and replaced by a park], for at least five years; and fans got more expensive seats with a lousier view of the field. All this, so that the Yankees wouldn’t move out of New York – something that was never going to happen anyway, since the entire value of the Yankees franchise is wrapped up in where they play. I’d call that a pretty lousy deal.”

He’s absolutely right. Normally, I’m indifferent toward the Yankees, but the way they’ve comported themselves during the approval and construction process has turned me into a bit of a hater. I certainly shed no tears over the fact that they’re having trouble putting butts in some of the more grossly overpriced seats in the new ballpark (HT: Shysterball).

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