Taxpayers pay big for Yankees build

July 20, 2007 12:00AM

The new Yankee stadium project will receive $663.5 million in direct payments and tax breaks from the government, according to watchdog group Good Jobs New York. The report comes after repeated announcements by the team and Mayor Bloomberg that the Bronx Bombers would be “footing the bill.” The team is using $920 million in tax-exempt bonds to pay for the $1.3 billion project. The Yankees are also saving millions by deducting stadium planning expenses from their rent, as per a clause in their lease with the city; it was used to pay for lobbyists, lawyers, consultants and executive salaries. more [Metro]


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