The Real Deal New York

Yankees owe city $11M in back rent

November 07, 2008 09:29AM

  • Print

The Yankees have to pay the city $11 million in back rent for
underpaying the city between 2003 and 2006, according to an audit by
City Comptroller William Thompson. Under the team’s rental agreement,
the Yankees pay the city
a percentage of all revenue from tickets, parking and cable television.
Between 2003 and 2006, the Yankees took in more than $1 billion, and
paid the city $17 million. The Yankees have already paid $7.3 million,
plus $635,132 in interest, and the remaining $4 million plus interest
will be paid on March 10, 2009, team officials said.

Comments are closed.

Loading...
CloseFor NYC real estate updates provide email below