Yankee Stadium Memorabilia Deal Imminent

Content Originally Posted by Sports Collectors Daily:

New York City and the Yankees are finalizing a deal that would give both sides a share of the sales related to Yankee Stadium leftovers. The deal guarantees the city $10 million, but that should leave plenty for the team and Steiner Sports, which is expected to coordinate sales.

Details are expected to be released as the 2009 season gets underway.

A New York Post report, quoting a source, said the city will receive 5 percent of net sales over $16 million; 10 percent of sales over $17 million; 20 percent over $18.5 million; 24 percent over $19.5 million and half of everything over $29 million.

The team and the city co-own the contents of the park, with the city owning the seats, foul poles and ticket booths, among other things. The Yankees own scoreboards, bases, lockers and other baseball-related items. Stadium seats are the most potentially lucrative part of the deal, with pairs expected to sell for nearly $2,000.

The Mets and the city recently split up the contents of Shea Stadium, with MeiGray Group handling an auction and sale. Seats sold for $869 a pair. The city's take in that deal was about $3.5 million.