Update: April 5, 2006: The new Yankee Stadium cleared its biggest hurdle, as City Council approved the deal 44 to 3. The new park will be built on parts of Macomb's Dam and John Mullaly Parks next to current Yankee Stadium. The Yankees will pay $930 million for this project. $860 million of the $930 million will come through tax exempt bonds. The Yankees will pay back the City with "payments in lieu of taxes". The Yankees will not pay rent to the City, but they will pay all operating costs and capitol improvements. New York City will pay $138 million to demolish the current stadium and restore lost park lands. New York State will contribute $70 million of the $320 million to build four new parking garages. Private developers would contribute the remainder of the balance.

Update: The new stadium will actually be two buildings. The first building will be a shell that is designed to look like the original (1923) Yankee Stadium. The actual stadium will be the second building. It will be taller than the shell, but it will all look like one building because of use of similar materials. The shell will be connected to the stadium by "The Great Bridge" which will provide five to six times more retail space than they have now. The City of New York will pony up $50 million initially and will get to control an 11,000 seat parking garage (and get all of the revenue). That is where the other $250 million will come from. The dimensions will remain the same as current day Yankee Stadium. The Yankees will up the number of luxury suites from 18 to the 50 to 60 range.

Update: February 7, 2005: The Yankees hope to sign a memorandum of understanding with New York City and New York State by opening day, April 3, 2005.

Update: September 5, 2004: The Yankees have hired Hellmuth, Obata & Kassabaum to design 50 to 75 luxury boxes that would evoke memories of the Yankee Stadium from 1923, not the modern one. City officials also say the Yankees have devised a plan to replace the 16.7 acres of parkland (including 4 ball fields, a soccer field, a track, 16 tennis and eight handball courts). The field at Yankee Stadium would be preserved for local teams, but part or all of the current stadium would be demolished. The Yanks would pay for the stadium if the city would issue $700 to $750 million in interest-free bonds and contribute $100 to $300 million in infrastructure improvements including a Metro-North stop, four to six parking garages, roads, and sewers.

Update: July 30, 2004: The pitch for a new park for the Yankees is set, although no time table is set up. The Yanks want to have a $450 million bond sale. The bonds would be tax-exempt Industrial Development Authority bonds, so the taxpayers would not be directly responsible. The Yankees would also build a Metro-North stop, hotel, conference center, and ferry landing. I am a sucker for history and would love the Yanks to fix up Yankee Stadium and continue to play there. I guess the Yankees feel like they don't make enough money.

The Yankees are going full steam ahead on a plan that would have them build a stadium that resembles the original Yankee Stadium from the outside and a modern ballpark from within. This would be built at Macombs Dam Park in the Bronx.

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