Loot, Loot, Loot for the Home Team: How the Proposal to Subsidize a New Yankee Stadium Would Leave Residents and Taxpayers Behind

February 2006
By Good Jobs First

By Bettina Damiani and Dan Steinberg

This report by Good Jobs New York reveals that taxpayers will pay a far higher price for a new Yankee Stadium than public officials and team executives have let on.  Direct and indirect subsidies could exceed $480 million and a city-sponsored analysis suggests the new stadium would not generate enough revenue to cover its cost to taxpayers. The report also argues that subsidizing this stadium is a costly and inefficient strategy for creating jobs. Finally, the South Bronx community that would be most impacted by the project has been excluded from the planning process.

Full Report