I Just Bought The New York Yankees

It is a stretch, but yesterday an agreement was hammered out between Lackawanna County and Mandalay (not Vandelay) Baseball Properties and the New York Yankees.  Here is how the deal breaks down:

The Yankees

- Pay 14.6 million for the franchise.

 -Pay rent on the stadium or whatever is there for 750,000 a year for 30 years. This commitment is for 37 million over 30 years. 

State (taxpayer)

-Kicks in up to 20 million in stadium improvements.

Lackawanna County

-Kicks in 20 million for stadium improvements which breaks down as following:

4.3 million from the sale (kickback?)
3 million in state reimbursements from the courthouse projects
8.7 million in new authority financing (bond?)
4 million in stadium authority funds.

There is a small pittance of the lawsuit filed by Luzerne County that should be resolved. 

If you look at the deal in the context of the New York Yankees.  They only have an upfront commitment of 11 million if you take off the 4.3 million rebate plus stadium rent.  Since 2003, the parent franchise has payed 175 million (90%) of baseball's total luxury tax collected. 

The Yankees end up getting a 30 year deal for the going rate of  CC Sabathia and Cliff Lee.

Shortly, the Yankees will be making a mega offer to free agent Cliff Lee while gaining total control of their Triple AAA franchise for peanuts.

Sell my soul to the devil........Damn Yankees!!!!!