Yankees To Pay New York $11.5 Million For Right To Sell Stadium Memorabilia

(From Sports Business Daily)

The Yankees yesterday said that they will pay New York $11.5 million "for the right to sell the city-owned memorabilia" from the old Yankee Stadium, according to KEN BELSON of THE NEW YORK TIMES.

The money "will go into the city's general fund, providing a financial shot in the arm."

YANKEES-STEINER COLLECTIBLES "will try to recoup that money and then some by removing and then selling seats, bleachers, the foul poles, player lockers and the iconic frieze around the upper deck."

The sale of Yankee Stadium memorabilia is "likely to generate far more money, given the popularity and history of the team," than the Mets' sale of Shea Stadium memorabilia.

The Mets last August "struck a similar deal" with New York for the Shea Stadium sales, and the city "received 70% of the net revenue from the sales, and the team received the remainder, which it donated to various charities."

The city so far "has received $3.5 million from the sale of Shea Stadium memorabilia."

But Belson notes while the Mets sold sets of two seats from Shea for $869, a number that "reflected the two years the team won the World Series," the Yankees are selling pairs of seats for $1,923, a "nod to the year the original Yankee Stadium opened."

BAKER STREET PARTNERS Vice President and Executive Creative Director BOB DORFMAN, "There's particularly a lot of value for the Yankees, especially with what's happening at the new stadium, which doesn't have the character or sentiment of the old one."