Yankees Cheated NYC Out Of $11 Million

Eleven million dollars isn't really that much when you consider the billion dollar plus public financing of the new Yankee Stadium. Still, it was discovered that they improperly deducted expenses from their rent and are finally paying it back. I know most New Yorkers love the team, but the management of the ballclub is absolutely despicable.

From NY1:

The city comptroller's office said today that the Yankees improperly deducted more than $11 million from its annual rent bill for Yankee Stadium between 2003 and 2006.

An audit by Comptroller Bill Thompson finds the Bronx Bombers overstated expenses by more than $24 million, allowing the team to underpay its rent.

Thompson also says the Yanks deducted nearly $10 million in 2006 for planning costs for the new stadium, after claiming those deductions in previous years.

The comptroller says the team has agreed to pay it all back with interest.

How sad that even with all the perks they get from the city, the front office feels that they can abuse the taxpayers that come to watch their games (for ridiculous ticket prices too). It is nice that they are paying it back with interest, but only because Thompson's office audited them. It isn't like the fessed' up to it or anything. Now I'm waiting for Bloomberg to address the issue and punish Steinbrenner's crew, but I won't hold my breath.