Mark Teixeira

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Well, at least one thing is consistent in the recession: the New York Yankees can still spend with abandon. With their signing of first baseman Mark Teixeira to an eight-year, $180 million contract, the Yanks now possess the top four highest-paid players in baseball, at a total commitment of more than $800 million.

Unlike, say, Goldman Sachs, these salaries don't get absorbed by management fees; the costs are, in part, passed to consumers. To that end, the Yankees--who recently sought $350 million in public financing before spending $421 million on free agents--are raising ticket prices for next season. The price increases reflect the new Yankee Stadium, which is nearing completion, as well as the player expenses. Nearly half the stadium now costs more than $45 a ticket.

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Timely Demise tracks the retail industry as it changes with our unprecedented economic environment. Published by David Wertheimer. Did I miss something? Drop me a line.

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This page contains a single entry by David Wertheimer published on December 24, 2008 10:12 AM.

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