This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

NY Yankees: Subpoena Will Cost More Than $5M

MICHAEL VIRTANEN

ALBANY, N.Y. (AP) ¿ New York Yankees officials said Monday that taxpayers would face more than $5 million in document costs if the team is forced to provide internal records sought by lawmakers looking into public financing of the club's new stadium.

Assemblymen Richard Brodsky, a Westchester Democrat, and James Brennan, a Brooklyn Democrat, are questioning what Brodsky claims is nearly $4 billion in financing and tax breaks over 30 years that was used to build the new ballpark. The legislators say many ticket prices have been hiked beyond the reach of fans.

Yankees' attorney George Carpinello said the estimated $5 million is for legal review of some 1.4 million relevant e-mails and attachments and doesn't include reams of other documents.

"If he wants the documents, the standard rule is he pays for them," Carpinello said. "That's the law in New York. That's the case law.

"I hope they're spared. I hope the bill isn't put on the taxpayers."

Brodsky said the Yankees didn't provide information they promised and he disputed that the team's document costs would fall to him or the public, saying the Yankees are looking for another subsidy from the taxpayer.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AAPL $130.28 0.00%
FB $81.53 0.00%
GOOG $565.06 0.00%
TSLA $218.42 0.00%
YHOO $44.52 0.00%

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs