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January 17, 2006
Bloomberg Boots Yankee Stats
Village Voice
By Neil DeMause
This article wasn't posted yesterday because it's about the Bloomberg administration's extraordinary efforts to fudge the numbers to make the deal for a new Yankee Stadium look good.
However, several avid readers sent the link to us, so we offer it to you as another example of why the public no longer believes politicians and team owners when they claim that the benefits of new sports venues outweigh their costs.
Here's an astonishing example of fuzzy math from the economic analysis commissioned by the city's Economic Development Corporation:
To generate the report's projected $74 million a year in added ticket revenues solely from out-of-towners, the Yankees would have to average 63,000 fans a night—a neat trick in what would be a 53,000-seat stadium.
Posted by lumi at January 17, 2006 9:57 PM