Yankees attendance and revenue is down, but it makes sense

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There’s a long article in the New York Times today noting that the Yankees attendance is down and that, based on financial figures released as part of their stadium bond disclosures, ticket and suite revenues through last season have fallen by $166 million since the end of 2009.

There is a lot of talk in the article about the exciting young team the Yankees have put together and how much they’ve won so far in the early going. And there is a lot of talk about marketing and demographics — Hal Steinbrenner talks about baseball’s “millennial problem” — but the story of the Yankees’ box office issues, such as they are, is pretty straightforward.

All teams suffer attendance and revenue decline when they play poorly. While the Yankees have not been bad for a long, long time, that’s a somewhat relative thing. They Yankees have sold themselves and sold their fans on the idea that nothing short of a championship is acceptable, so missing the playoffs for three of the past four years is bad for them. Fans don’t want to go see a bad team, be it Yankees fans, Rays fans, Royals fans or whoever.

Despite the recent lack of success, the Yankees have still, perversely, continued to price their tickets, concessions, parking and everything else as though they’re the only game in town. When demand falls and prices remain super high, fewer people are buying your product. Even if you’re the New York Yankees.

The Yankees are good this year. What’s more, they’re good in that exciting way that only young promising players bursting out onto the scene can deliver. It’s a wonderful thing for marketing and stuff, but even under the best of circumstances, ticket sales tend to lag on field success, often by as much as a year. Go back and look at World Series winning teams — especially the surprise winners — and you’ll see that it’s the year after on-field success when the real attendance bumps happen. I expect, if the Yankees continue to play well, their gate will get really nice by the end of the summer, but I suspect we’ll also see a more dramatic bump next year.

Taken all together, this is a dog-bites-man story. The Yankees are not some transcendent institution, immune from market forces. They’re just one of 30 Major League Baseball teams competing against other entertainments for a finite amount of the public’s money and attention. Nothin’ to see here.

Bogaerts reportedly heading to the Padres for 11 years, $280 million

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SAN DIEGO — The San Diego Padres and Xander Bogaerts agreed to a blockbuster $280 million, 11-year contract Wednesday night, adding the All-Star slugger to an already deep lineup.

A person familiar with the negotiations confirmed the contract to The Associated Press on condition of anonymity because it was pending a physical.

The Padres already had Fernando Tatis Jr. at shortstop, but he missed the entire season because of injuries and an 80-game suspension for testing positive for a performance-enhancing drug.

San Diego also met with Aaron Judge and Trea Turner before the big stars opted for different teams. The Padres reached the NL Championship Series this year before losing to the Phillies.

“From our standpoint, you want to explore and make sure we’re looking at every possible opportunity to get better,” general manager A.J. Preller said before the Bogaerts deal surfaced. “We’ve got a real desire to win and do it for a long time.”

The 30-year-old Bogaerts was one of the headliners in a stellar group of free-agent shortstops that also included Turner, Carlos Correa and Dansby Swanson.

Bogaerts, who’s from Aruba, terminated his $120 million, six-year contract with Boston after the season. The four-time All-Star forfeited salaries of $20 million for each of the next three years after hitting .307 with 15 homers and 73 RBIs in 150 games.

Bogaerts is a .292 hitter with 156 homers and 683 RBIs in 10 big league seasons – all with Boston. He helped the Red Sox win the World Series in 2013 and 2018.

Bogaerts becomes the latest veteran hitter to depart Boston after the Red Sox traded Mookie Betts to the Los Angeles Dodgers in February 2020. Rafael Devers has one more year of arbitration eligibility before he can hit the market.

Bogaerts had his best big league season in 2019, batting .309 with a career-best 33 homers and 117 RBIs. He had 23 homers and 103 RBIs in 2018.

In 44 postseason games, Bogaerts is a .231 hitter with five homers and 16 RBIs.