It is no secret that the New York Yankees are one of the wealthiest teams in sports history. As of 2025, they have a payroll of $319 million.
Despite the numbers and the history, their owner, Hal Steinbrenner, the son of George Steinbrenner, won't acknowledge the franchise's profitability, per Bryan Hoch of MLB.com. Specifically, Steinbrenner mentioned a yearly expense the franchise has to pay to New York City.
“I don't want to get into it, but that's not a fair statement or an accurate statement, he said. “Everybody wants to talk about revenues. They need to talk about our expenses, including the $100 million expense to the City of New York that we have to pay every February 1, including the Covid year. So it all starts to add up in a hurry.”
As of now, the Yankees' profit for the 2025 season remains unknown. However, they made $728 million in revenue. As a result, those figures combined with their payroll indicate that New York is operating at a loss.
This year, New York finished the year with a record of 94-68 and lost in the ALDS in four games to the Toronto Blue Jays. Plus, Aaron Judge was honored with the AL MVP Award.
The Yankees' accomplishments under the tenure of Hal Steinbrenner
In 2008, Hal took over the reins of ownership after his complicated yet storied father. The following year, the Yankees won the World Series for the first time since 2000. It also marks the last time they have won the World Series.
Along the way, New York made it to 11 postseasons, including a 2024 appearance in the World Series. Additionally, they have the best combined winning percentage in baseball since Steinbrenner became the owner.
Also, Steinbrenner serves in other roles through MLB. He is on the MLB Executive Council and is on the Board of Directors for Legends Hospitality.
