Mayor Bloomberg's office reportedly cut a deal with the Yankees allowing 250 more parking spaces and three additional billboards at their new stadium in exchange for a luxury suite, complete with free food and access to post-season games.
"The city will relinquish use of the 12-seat box in exchange for whatever revenue the Yankees generate by selling the seats, minus the cost of marketing them. Although neither the city nor the Yankees have publicly disclosed the market value of the suite, similar suites at the new stadium are being sold for as much as $600,000 a year.
The city's acquisition of the Yankees suite had drawn scrutiny, especially after e-mail messages surfaced in November showing that aides to Mayor Michael R. Bloomberg had zealously pursued the luxury box, as well as free food and access to post-season games.
Representative Anthony D. Weiner, a Queens Democrat who publicly demanded that the city give up the suite, said, 'This is something that they never should have negotiated in the first place.'
'And,' he added, 'it was only after the public found out about it that they did the right thing.'"
Read the full story: City Trades Its Yankee Stadium Suite for Cash
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