The New York Yankees have agreed to pay Mayor Michael Bloomberg's administration $10 million for seats, foul poles, urinals, ticket booths and other memorabilia that belong to the city from the team's old stadium, according to a person with knowledge of the deal.
The Yankees would then sell the items, along with all the memorabilia that belong to the team, including scoreboards, bases, turf, lockers and bullpens.
The agreement was being finalized, according to the person familiar with the deal, who spoke Tuesday on condition of anonymity because it hadn't been completed.
Under the terms of the tentative agreement, the city stands to make more money if the net revenue of the sale exceeds certain levels. The city gets 5 percent if revenue surpasses $15.9 million, 10 percent if it's above $17 million and 20 percent if it's above $18.2 million.
Yankees spokeswoman Alice McGillion said only that a deal was still being worked out. A city spokesman declined comment.
The new Yankee Stadium is due to open next month next to the old ballpark in the Bronx.
The city struck a deal last summer with the New York Mets for the memorabilia in their old Queens ballpark, Shea Stadium, which also saw its last season in 2008.
The Mets put 16,000 pairs of seats up for sale on their Web site in August after a pre-sale for season ticket holders.
The city has made about $3.5 million from sales of Mets memorabilia. Under that arrangement, the team did not pay the city beforehand; both sides agreed to share proceeds.
The Yankees would then sell the items, along with all the memorabilia that belong to the team, including scoreboards, bases, turf, lockers and bullpens.
The agreement was being finalized, according to the person familiar with the deal, who spoke Tuesday on condition of anonymity because it hadn't been completed.
Under the terms of the tentative agreement, the city stands to make more money if the net revenue of the sale exceeds certain levels. The city gets 5 percent if revenue surpasses $15.9 million, 10 percent if it's above $17 million and 20 percent if it's above $18.2 million.
Yankees spokeswoman Alice McGillion said only that a deal was still being worked out. A city spokesman declined comment.
The new Yankee Stadium is due to open next month next to the old ballpark in the Bronx.
The city struck a deal last summer with the New York Mets for the memorabilia in their old Queens ballpark, Shea Stadium, which also saw its last season in 2008.
The Mets put 16,000 pairs of seats up for sale on their Web site in August after a pre-sale for season ticket holders.
The city has made about $3.5 million from sales of Mets memorabilia. Under that arrangement, the team did not pay the city beforehand; both sides agreed to share proceeds.
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