Yankees: Greed is good
Just thought I'd pass along the link to a story on the website of the local NBC affiliate in New York, which documents a decline in attendance at the new Yankee Stadium because of the lofty ticket prices and the sagging economy. The Yankees apparently aren't worried, because they've already said publicly they will raise the prices of premium tickets 4 percent next season.
This comes after the price of non-premium seats increased dramatically in the switch-over from the old Yankee Stadium to the glitzy new one that features front row field boxes that cost $2,625 per game.
This also comes three weeks after Yankees managing partner Hal Steinbrenner admitted that he thinks some tickets at the new ballpark are "overpriced." He's certainly got a funny way of showing it.
Here's all you need to know. The average ticket price at the new Yankee Stadium is about $76. The major league average is about $26. And you wonder why Yankees fans are willing to use all that gas to get down to Camden Yards.
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Comments
It is just a matter of time before that situation also implodes like housing and the stock market.
Too bad baseball was sleeping at the wheel and didn't implement a salary cap (min and max levels) a long time ago.
Posted by: Rich | April 23, 2009 11:26 AM
I attended a game at Yankee Stadium yesterday (only because a friend had free tickets) and I have to say the "bang for the buck" is just not there. It is no wonder the NY media keeps harping on how the new stadium reminds people of the old stadium. Why not just keep the old one then?!?!?! Yes, it's like the old stadium, but three times more expensive. Let's go Yankees? Only if you take a second job. Go O's!
Posted by: Clayton Fletcher | April 23, 2009 12:19 PM
We do need to keep in mind that incomes in New York are much higher than in most cities across the country. Also with the huge population and the tourist trade in New York there are always people willing and able to pay for tickets.
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Pete's reply: There's some truth to that, Bill, but the average income in New York isn't three times that of other cities. What they have is the largest concentration of corporations that are willing to still pay those prices.
Posted by: Bill | April 23, 2009 1:09 PM
I wonder if they consider the lack of class among a large portion of their fan base to be good as well...
Posted by: Scott | April 23, 2009 1:23 PM
The average is a bad measure when you have $2625 tickets skewing it for the Yankees. I'm not saying that the Yankees aren't expensive, but does it really cost three times as much to sit in the upper deck at Yankee Stadium than at other parks?
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Pete's reply: That's a fair point.
Posted by: Steve | April 23, 2009 6:18 PM
To C Fletcher... true but the tourists are VISITORS and the NY Yankees are NEW YORK'S TEAM, and should be affordable to New Yorkers, not tourists..... we root for them 365 days a year, they root for them when they are in town...
Posted by: Sammy Pereira | April 23, 2009 6:36 PM
It looks good on the Yanks to have all those empty seats; I suppose there's always the much-detested RedSox Nation that can buy some of them up..
Ticket prices to MLB is still pretty reasonable compared to other sports. NHL tickets are ridiculous and NFL games can be pretty pricey. I've attended all three sporting events and have found that you can get the best bang for your $$ at a ball game. Still, MLB is going to have to face reality or their numbers will drop. I usually attend a few Tigers and Jays games and notice that they are offering discounts on certain games and/or throwing in some food etc..I just waiting for the beer to be included or even a price drop..
Arenas still haven;t lowered concession prices in general so that has to be factored in fans' choices. I mean after all, who can go to a sporting event without having a dog/brew or 2? I can only imagine what thtey charge for these 'necessities' at Yankee stadium!
Posted by: TerryP | April 23, 2009 7:13 PM