NY Yankees: Subpoena Will Cost More Than $5M
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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV