Steinbrenner is complaining about finances.
Is Hal Steinbrenner the chairman and managing general partner of Yankee Global Enterprises which is the parent company of Major League Baseball’s New York Yankees franchise or is he the owner of a small market MLB franchise? Sometimes there is a wonder of what Steinbrenner is talking about. The New York Yankees is a global name and all sorts of revenue streams flow into the business just based on the name. But sometimes Steinbrenner complains about spending money on the baseball team and in 2025, Steinbrenner has spoken about needing to cut back on his baseball franchise’s spending a few times. Most recently, Steinbrenner was unhappy when a reporter suggested that, with revenues reportedly exceeding $700 million, it is fair to assume the Yankees are turning a profit.
“That’s not a fair statement or an accurate statement,” he said. “Everybody wants to talk about revenues. They need to talk about our expenses, including the $100 million expense to the City of New York that we have to pay every February 1st , including the COVID year. So it all starts to add up in a hurry. Nobody spends more money, I don’t believe, on player development, scouting, performance science. These all start to add up. If you want to look at the revenues, you’ve got to somehow try to figure out the expense side as well. You might be surprised.” There is no way of verifying Steinbrenner’s response. Yankee Global Enterprises is a private company and its financial records are not available to the public. Steinbrenner talked about the finances in general terns but he didn’t say the baseball business is not making a profit. Last February, Steinbrenner said he might support a salary cap proposal as long as it contains a provision mandating minimum payrolls and he repeated it recently. Steinbrenner sounds like a small market owner.
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