Yankees seek more public funds for stadium

June 12, 2008 08:03AM

The New York Yankees are seeking more public financing — another $350 million in nontaxable bonds — for their new stadium. The team said it is pushing for IRS regulation relief and the stadium’s construction will proceed regardless. The relief would allow the Yankees, Mets and Nets to take on more public debt for their new facilities. The $1.3 billion Yankee Stadium is slated to open next year, across the street from the old stadium. The Yankees have already received about $900 million in bonds, most of it tax-free.

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