The Deal
Saturday, November 21, 
8:14 am

Yankees, Mets feel the credit crunch

  Share     E-Mail    Discussion    Print Story
Yankee Stadium125.pngTwo brand new baseball stadiums (subsidized by the taxpayers) adorn New York City as both the Yankees and Mets get ready to open the 2009 season. But the two stadiums designed for a precredit crisis economy may be having some problems filling those $2,000 VIP seats with Wall Street limping along and conspicuous consumption very much out of favor.
 
The New York Times columnist Floyd Norris writes:

"I received an e-mail message today from the Yankees proclaiming that 'Tickets for Yankee Stadium's inaugural week are still available.'

"So I checked out the second home game of the season, on Friday afternoon, April 17. The cheap seats are sold out, but there are still some good seats left, at prices ranging from $375 (plus a $12.45 convenience fee) to $900 (plus a $23.45 convenience fee). As it happens, the Mets are in town that same night. There you can get tickets for as little as $60 (plus $7 fee) for seats in what I would have called the bleachers but they call left field reserved. Seats costing as much as $270 (plus a $12 fee) are also available."

With seats like that sitting empty, the teams owners must be pulling for the government's Public-Private Investment Program and other stimulus plans to work fast, so that banks can get back to providing perks. Of course the teams' owners could just lower the prices so that the middle class could afford good seats too, but waiting for that is likely to leave you as disappointed as Mets fans when the playoffs begin.

Fortunately there is hope for bankers that just have to see their favorite New York teams in action. For less than a single ticket at the new Yankee stadium, one can get round-trip tickets down to Tampa, Fla., a rental car, hotel room and a seat at a preseason Yankees game and still have enough left over for a hot dog. - George White

See NY Times blog post 

Continue reading below

Also on Dealscape





Post a comment





The Deal Pipeline

Deal Video


Inside The Deal: Avaya Inc.'s Mohamad Ali on the company's next target.


More video...

Crisis On Wall Street
Technology
Deals of The Decade

Community

Industry Insight

Managing your shareholder base

Growth companies and their PE sponsors should be wary of the pitfalls that arise when they layer on tiers of preferred stock.


Industry Insight

Easing the stress of distressed M&A

Corporate buyers face numerous complexities when trying to identify the right moment to purchase a distressed asset.


Editor's Note

Editor's letter: Nov. 16, 2009

Beneath the veneer of Wall Streeters beats the same heart, stirred by the same determinants of behavior.


footspacer.jpg footspacer.jpg footspacer.jpg footspacer.jpg footspacer.jpg


©Copyright 2009, The Deal, LLC. All rights reserved. Please send all technical questions, comments or concerns to the Webmaster.