Most of the press coverage thus far has focused on the gross costs of erecting a new stadium. According to the study prepared by Hellmuth, Obata & Kassbaum (HOK) for the New York City Economic Development Corporation, the New York State Empire State Development Corporation and the Yankees, a single-sport, retractable dome stadium at the west side rail yards would cost $770.5 million. Neither that study, however, nor the related Peat Marwick LLP financial analysis, detail how much a facility would be financed. The probable public cost of keeping the Yankees in New York City, whether at a new site in Manhattan, the Bronx, or in a refurbished Yankees Stadium, is still largely obscure.
Click here (pdf) to read more about the impacts of a new Yankees stadium and about the state mortgage insurance fund.