No Recession for the Yankees…

Last Updated: December 12th, 2008 by Travis Edwards (Bankroll Sports Contributor)

The New York Yankees proved once again they are the wealthiest team in Major League Baseball. The Yankees signed superstar C.C Sabathia to a 7 year contract worth a mind boggling 161 million dollars. The huge deal equals the highest paying contract ever for a Major League pitcher. The deal is also the 4th highest paid contract in the history of Major League Baseball. For the Yankees to spend this type of money on a pitcher, represents the desperate attempt the New York franchise has pulled to get their team back to winning World Championship for the first time since 2000.

While many teams have been slow to dish out big money contracts or deals due to the slumping economy, the Yankees have flexed the financially charged muscle. New York just moved across the Bronx, to their brand new 1.6 billion dollar place that is the New Yankee Stadium. The new stadium is the most luxurious among all Major League Baseball stadiums today. Tickets for the new ballpark are in the $2,500 range where people can watch the game from bars and clubhouses containing swimming pools, hot tubs, and anything else you can imagine. Yep, it’s safe to say the Yankees are not struggling when it comes to money despite the majority of teams who have cut back on franchise spending in fear of losing tons of money due to the economy.

The new contract with pitcher C.C Sabathia is simply another prime example of what New York has done for years. The Yankees have simply made an effort to buy World Championships. The New York Yankees franchise is estimated at an incredible 950 million dollars. The value equals twice the amount of 27 out of 29 franchises in Major League Baseball and nearly 300 million ahead of the 2nd most wealthy team in the MLB the Boston Red Sox. Considering that there is no salary cap in baseball, the Yankees have the opportunity to spend basically whatever they choose. New York has the ability to sign and spend money that no other team in baseball can even compare. The Yankees however have still not been able to produce a World Championship in 8 years. The Steinbrenner’s, who own the franchise, are willing to fork out money that seems unfair to ensure the Yankees have success no matter the cost.

The Yankees have been quoted as being “the best team money can buy.” The Sabathia deal is just another event that displays the financial monopoly that is the New York Yankees. Despite the argument that C.C Sabathia most likely is not worth the amount of the lucrative contract, the Yanks have enough money to sign these types of deals with no worries. New York over the past 8 years since their last World Championship has amassed a level of talent that is similar to that of an all-star team. Any team that has the money to accumulate the best two players in their sport has too much power. The Yankees have just that in superstars Derek Jeter and Alex Rodriguez.

Simply look at the New York roster and you can see the level of financial superiority. The Yankees have a roster of all-star and future Hall of Fame players. You do not even have to be familiar with baseball to know the names Alex Rodriguez, Derek Jeter, Johnny Damon, Jorge Posada, Mariano Rivera, Hideki Matsui, and now C.C Sabathia. If it were possible, New York would simply buy World Championship rings every year and claim the Championship rather than winning it with the unlimited amount of revenue that flows through the program. However, New York has to settle for buying a team that others could only dream of buying. Still the World Championships have yet to come. If New York fails to capture a Championship in the next few years, can you imagine how much more desperate and lucrative financial movements that will be made to ensure success. New York definitely benefits from a professional league without a salary cap. I mean can you really blame the Yankees for spending more money than any other team since they have that option. Surely the sporting world must admire the Yankee’s determination and ‘whatever it takes’ attitude to win despite how much you love or hate them.

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Posted in MLB Baseball - Last Updated on Friday, December 12th, 2008 @ 6:26 pm (EST)
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