Students are still working on the assignment about the financial situation of the Yankee's baseball team. In addition to the sources listed in previous posts to this blog, I'd like to suggest that many books have been written on the topic of the economics of sports and they are available in CUNY libraries.
LC subject headings include:
Major League Baseball (Organization)
Baseball--Economic Aspects--United States
You might be surprised to see that Brookings has published several titles on this topic. We have their books: May the Best Team Win: Baseball Economics and Public Policy, and Sports, Jobs, and Taxes : the Economic Impact of Sports Teams and Stadiums.
In addition there is a business database devoted to the sports industry available at SIBL. It is the Sports Business Research Network. It includes statistical market research data for 63 sports, 85 product categories, plus full-text articles and reports in more than 10 leading trade publications covering U.S. and international sports marketing and sporting goods business.
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One of the Brookings authors, Roger G. Noll has several articles on baseball finance that can be found in Google Scholar. To quote from an article he wrote in 2002-"Baseball releases only selective and incomplete information about team finances, and the most recent year for which even this information was made available is 1999 through the report of the so-called Commissioner’s Blue Ribbon Panel (available at www.mlb.com/NASApp/mlb/mlb/official_info/mlb_official_info.jsp)."
In case you want to see all the previous posts about the Yankees assignment, this link will run a search in the blog for "yankees."
I would most highly recommend a book by SPA professor Neil Sullivan, The Diamond in the Bronx: Yankee Stadium and the Politics of New York City, which we have. GV 48 S.85 2001 and also available electronically.
I read the book and had Prof. Sullivan sign a copy for a bond lawyer whom I used to work for who is a huge baseball fan. He later wrote that he mentioned to the lawyer for a baseball owner wanting to have public finance of a new stadium, that the original owner of the Yankees built the stadium using his own personal funds. The other lawyer didn't think much of the suggestion.
Prof. Sullivan is an authority on stadium finance and its impact. He also thanked the Newman Library for the support it provided him for the book.
There is a story in the NYT today Oct. 22, "Developer of Nets' Arena can use Tax-Exempt Bonds" by Charles V. Bagli, which although is largely about Bruce Ratner's proposed Brooklyn project, mentions financing already issued for the new Yankees and Mets stadiums and summarizes the Yankees' financing using bonds.
The article mentions that this Friday, Rep. Dennis Kucinich is holding a hearing of a Congressional subcommittee he investigating the tax-exempt financing of the new Yankee stadium.
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