Posts Tagged ‘baseball’

How much does A-Rod make just for being A-Rod?

Wednesday, April 6th, 2011

a-rod.png
(click image to see the whole thing)

Highlights:

  • - Every time Alex steps up to the plate, he earns $59,000
  • - A-Rod has the largest ever MLB contract package, worth $275 million over 10 years
  • - Even though he makes less money than A-Rod, Shaq makes way more money in endorsements

This may explain why every pro athlete seems to have their own foundation

How much could A-Rod buy?

Madoff Clients Sue Owners of the Mets – “They Should Have Known”

Tuesday, February 1st, 2011

“The trustee representing the victims of Bernard L. Madoff’s multibillion dollar Ponzi scheme is seeking hundreds of millions of dollars from the owners of the Mets, alleging that they, as longtime and successful investors, knew or should have known Madoff was operating a fraud, according to two lawyers involved in the case.”

What do you think?

Should the Madoff clients that made money be forced to pay the clients that lost money?

Baseball’s Wealthiest Team Shares Profit With NYC

Wednesday, October 7th, 2009

When you get taken out to the ballgame in New York City, the local economy gets a serious boost…

  • In the first playoff season to visit the new Yankee Stadium in the Bronx, the New York City Economic Development Corporation estimates that each home game played in the 2009 postseason will bring $6.7 million in income to New York businesses.
  • The estimate takes into account money spent by visitors to the city who patronize hotels, restaurants, and transportation services. In addition, employees in and around Yankee Stadium will take home a total of about $900,000 after every game.
  • Does the economic benefit of these games outweigh the enormous costs of building a new stadium and all its related transportation and infrastructure changes? Not everyone is so sure. One Westchester State Assemblyman says the economic and employment benefits are not enough to justify the low-cost financing that was made available to the team for stadium construction.

Facts & Figures

  • The NYC Economic Development Corporation estimate assumes each postseason game will bring in 16,850 NYC residents, 27,500 residents of the NY/NJ/CT metropolitan area, 6,000 visitors from outside this area, 300 media from outside the area, and 200 players and affiliates.
  • Counting $5.2 million in “indirect economic impact” brings the total benefit to New York City to $11.9 million.
  • The new Yankee Stadium cost $1.5 billion and was largely financed by tax-exempt bonds that will eventually be repaid by the team.

Best Quote

“There is a modicum of economic advantage. The visiting teams travel with their press corps and entourage, some people will travel to New York, stay overnight and spend money on hotels and restaurants.’’ – Andrew Zimbalist, Professor of Economics at Smith College