Lieutenant Island Views : Commentary About Finance, Politics and Baseball

Baseball’s Newest Stadiums-Citi Field vs Yankee Stadium Redux | April 7, 2009


As we have suggested previously, in sports, finance and politics, money does not always assure success. In particular, creativity and inspiration can actually be inhibited by economic excess. While none will claim that the New York Mets are economically deprived, by many accounts they did more with less when it came to designing and building their new stadium. It is inspired by many of the great old time ball parks and is a joy to visit. Some suggest that Citi Field evokes Ebbetts Field while the new Yankee Stadium reminds viewers of some of Benito Mussolini’s achitectural inspirations! Notwithstanding its unfortunate name, Citi Field (note: some Yankee fans use the first letters of its old park’s name and drop the C in the new name), early reviews suggest that the Mets have a winner vs the Yankees. Add to this the fact that the cost of tickets to Citi Field is significantly less for desirable seats, it will be interesting to watch how comparable attendance figures unfold. We would also note that CC Sabathia and Mark Texeira’s opening day performances, if indicative of future performance, will not enhance attendance at the new Yankee stadium.

Phil Mushnick of the New York Post adds his thoughts and points to some of the less than fan friendly aspects of “The House That Greed Built”

http://www.nypost.com/seven/04062009/sports/mets/new_mets_field_clobbers_yanks_from_tv_st_163157.htm

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About author

Mr Thaler is currently the Managing Partner of Lieutenant Island Partners, an organization providing corporate finance advice and general consulting to corporations and not-for-profit organizations. Mr Thaler retired as Vice Chairman of Deutsche Bank Securities in early 2008. His background includes experience as an investment banker, senior manager, business builder, college professor, not for profit board chair and trustee. In his thirty plus years as an investment banker for Deutsche Bank and Lehman Brothers, he has been involved in numerous significant debt and equity financings, mergers & acquisitions, leverage buyouts, restructurings and cross border transactions. Of particular note, Mr Thaler has been one of the most active participants and strategic advisors to the homebuilding industry. In a period of significant turmoil and losses, he was one of the few active bankers to the industry who did not have either a loss or credit write down. He is currently advising several public builders on strategic matters and is an adjunct professor of finance at Morehouse College in Atlanta, Georgia. Though he lives in New York, he is a life long Red Sox fan! www.LieutenantIslandPartners.com

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