Audit by the New York City Comptroller Finds The Yankees Owe New York More Than $11 Million
November 7, 2008. A year after Good Jobs New York called attention to questionable receipts the New York Yankees submitted to the city as "planning costs" for their new stadium, this morning the Office of NYC Comptroller William Thompson issued an audit examining the team's payments under their Lease Agreement with the city (which has allowed the team to deduct $5 million per year in planning costs for their new stadium from 2001-2008). The audit, which covers the three year period from January 2003 - December 2006, found that the Yankees claimed $11,388,155 in ineligible credits. The Yankees agreed to pay the total sum and have already paid the city over $7,000,000 million plus interest.
View the Comptroller's Press Release and Audit
Read the New York Daily News story on the audit
Read more on Stadium Subsidies