New Stadium Says Cha-Ching To Yanks

Published: August 4, 2007, 10:57 am

From CNNMoney.com - From 1997 to 2005, growth in [Yankee] stadium revenue far outpaced the rise in attendance. Annual attendance rose 58%, from 2.6 million to 4.1 million, whereas ticket and luxury-suite revenue soared 202%, from $52 million in 1997 to $157 million in 2005. The new stadium will boast more than three times as many luxury boxes as the old, and as a result, ticket-and-suite revenues are projected to soar to $253 million when the new ballpark opens in 2009. They will probably be much higher. The $253 million figure in the prospectus assumes attendance in 2009 of 3.4 million, which is the equivalent of 79% of the new stadium's 53,000- person capacity over 81 regular-season home games. Given that the Yankees sold 90% of their tickets last year, 88% in 2005, and are on pace for another 90% showing in 2007, it's hard to imagine ticket sales sagging when the new stadium opens. Also, the ticket-and-suite figures don't include two other sources of stadium revenue -

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