Suite Sorrow: Mayor to Sell Back City's Stadium Boxes
Bloomberg trying to raise money for cash-strapped treasury
By JOHN P. WISE
Updated 3:16 PM EST, Wed, Jan 7, 2009
Mayor Michael Bloomberg has vowed to sell back the city's pricey luxury boxes at the two new baseball stadiums and pour that money into the treasury.
Wednesday's New York Post reported that the mayor is asking the Yankees and Mets to auction the boxes, then use that money to help the city and its struggling economy over the next several years.
The most expensive boxes fetch $850,000, and the Yankees say the city will get at least $100,000 a year for five years, The Post reported. A similar deal is being negotiated with the Mets, whose new Citi Field lists its most expensive suites at $500,000.
"It's a pretty small gesture at this point, especially when you realize that $400 million in municipal bonds and public money likely will be handed over to the two teams after a hearing next week," notes Joshua Alper.
And Gabe Pressman opines: "It was a foul idea to begin with and Mayor Bloomberg deserves congratulations for recognizing it -- finally!"
First Published: Jan 7, 2009 8:44 AM EST
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