Yankees Win Games – Lose Money

Financially speaking, the New York Yankees (valued at $1.306B) lost $47.3 million dollars in 2007. So says Forbes magazine. There’s a well known economics adage that goes something like this: “What’s the difference between a good accountant and a great accountant? Ask a good accountant to add 1+1 and he’ll get 2. Ask a great accountant to add 1+1 and he’ll get any number you want!” Before I pity the Steinbrenners, I need to contact Forbes and borrow their accountant. I want to recalculate my taxes!