Here's what Hank Steinbrenner had to say to the AP (hat tip to Was Watching):
Or, as Red Sox president Larry Lucchino said, "the Yankees have spent like the U.S. Congress." That drew a quick response from Yankees co-chairman Hank Steinbrenner.
"Along with a few other teams, we're basically baseball's stimulus package," he said.
I agree completely.New York thinks it has the right to spend after paying at least $110 million in revenue sharing and luxury tax last year.
"As long as we're doing that and giving all this money to other teams in revenue sharing, a staggering amount, we should be able to spend on salaries what we want to," Steinbrenner said. "Because of revenue sharing and because of the popularity nationwide, the Yankees are critical to baseball."
7 Comments:
I agree with Hank if baseball owners expect that Yankees to pay 110 million in revenue sharing than they should be able to spend whatever they want for there team.
If they want a salary cap they cant have revenue sharing then. I dont see how that is fair.
Revenue sharing is a joke because there are no rules about the money going back into the team.
If the big market teams have to give up cash then the small market teams that receive the money should be forced to using most, if not all of it, on their team.
Revenue sharing is EXACTLY like the government bail-out to the banks. They gave them billions of dollars, but never said "THIS MONEY MUST BE PUT INTO THE MARKET TO STIMULATE IT." Same thing with revenue sharing. The teams, when the money comes in, should be forced to USE it to sign free agents and keep their young stars from leaving. Instead, the owners just put it in their pocket. A total joke!
The yankees are great for baseball. Their revenue sharing payments support the financially unstable teams and keeps them competitive each year. Someone please remind me what the view ratings were for the Phllies-Rays WS? I'm thinking that every WS the past 2 decades that included the Yankees yielded a larger viewer rating....translating into bigger TV broadcast deals for the playoffs. When the Yankees win 2 or 3 in a short period of time, then we can have a discussion about a salary cap.
Bravo Hank! Masterfully stated!
Mike
Sometimes I can’t help wondering if Hank has has multi-personalities and the one who rarely shows up is incredibly smart.
So, it's "good for baseball" that a team can go out and purchase whatever player it wants? It helps the competitive balance that small market teams can be guaranteed that their best player will defect to New York, or Boston, or LA as soon as MLB permits simply because the small market teams cannot compete with the salaries that the media-dominant centers can pay? Gimme a break.
By the way, did Hank also mention how the Yankees swung their deal with NYC/NY for the new stadium? By getting the local governments to put up cash and then agree to pay for the remaining mortgage the Yankees will REDUCE their revenue sharing by around $35M in 2009. That's why Hank looked back to 2008 for the revenue sharing numbers that give him a "right" to outbid the world. It was disingenuous at best.
@Peter F: This is NOTHING like the government bail out. What you completely misunderstand is that the initial government "bail out" (the one you're talking about) was a STOCK PURCHASE plan. The government owns preferred stock and similar instruments in the banks it supported. They are GUARANTEED to get their money back.
Post a Comment