Who Owns the Land Under Yankee Stadium?

The land under Yankee Stadium, along with the stadium structure itself, is owned by the New York City Industrial Development Agency (NYCIDA), an entity that operates under the umbrella of the New York City Economic Development Corporation (NYCEDC). While the New York Yankees baseball team operates the stadium, the underlying property is held by this public agency.

Understanding Yankee Stadium Ownership

Yankee Stadium, a prominent landmark and the home of the New York Yankees Major League Baseball team, represents a significant public-private partnership. The ownership structure ensures that while the city facilitates the venue's existence, the team is responsible for its day-to-day operations and events.

• Public Ownership: The New York City Industrial Development Agency (NYCIDA) holds the title to the stadium and its surrounding land. NYCIDA's role is to promote economic development within New York City by providing financial incentives and assisting in the acquisition and development of various facilities, including sports venues. This arrangement is common for large public facilities that serve significant community and economic functions.
• Team Operation: The New York Yankees are the long-term tenants and operators of the stadium. They manage the baseball games, other events, maintenance, and overall operations of the facility. This allows the team to control the venue's usage and generate revenue while the city retains ownership of the valuable public asset.

Key Entities and Their Roles

The relationship between the various parties involved in Yankee Stadium's ownership and operation can be summarized as follows:

This model ensures that the stadium remains a valuable asset for the city, while providing the New York Yankees with a state-of-the-art facility for their operations.

To learn more about the New York City Economic Development Corporation and its role in city projects, you can visit their official website: NYCEDC Official Website.