Yankees and Mets postseasons to boost NYC economy

Matthew Grubin

The New York Yankees and the New York Mets successfully vied to play in the postseason this year, attracting fans and generating tremendous revenue to businesses near their respective venues, Yankee Stadium and Citi Field

The New York City Economic Development Corp. reported that each upcoming home game for the Yankees’ postseason is expected to generate $21.5 million for the city. Additionally, although the Mets’ postseason was cut short, the nonprofit organization said their three home games each generated $16.9 million.

“Each home game for the New York Yankees and the New York Mets generates roughly 15 million in economic activity for the city,” NYC Mayor Eric Adams said at a news conference. “Supporting local businesses, like your tavern, and supporting restaurants, supporting buying merchandise and just really putting a boom in our economy.”

The postseason earnings for both teams are calculated on ticket sales, employee earnings and team performances. In-stadium food vendors and merchandise shops also encourage spending, increasing each team’s revenue and boosting the city’s economy.

During the 2021 off-season, both teams hired free agents to improve the performance of both teams in the 2022 regular season. The Mets signed star pitcher Max Scherzer, and the Yankees traded for former MVP third baseman Josh Donaldson.

As a result, The Yankees won their division with 99 wins, and the Mets won 101 games in their division. The teams’ successes energized fans who attended home games in support.

During the regular season, The Yankees brought in $485 million in revenue for New York City, while the Mets brought in $153 million.

The revenue both organizations generated is a positive sign for the city’s economy, especially following the COVID-19 pandemic.

When the coronavirus hit New York City in 2020, baseball games halted, and the teams generated less. The Yankees brought in $108 million that year, while the Mets brought in $107 million, according to Statista. Both revenues lacked in comparison to years past.

“New York City’s the largest economic engine for this country,” Adams added. “There’s no getting around it. And by having that economic engine generate the fuel power for this country, it’s important to factor in what the game of baseball and sports are playing over this economic recovery.”

Fans spent money not only on the teams but also at local businesses around Yankee Stadium and Citi Field. During the pandemic, local businesses around Yankee Stadium and Citi Field generated less revenue.

“I’m about 95% down in revenue,” Joseph Michialis, who owns Yankee Twin Eatery, told ABC7NY in September 2020. “This is my largest income from the Yankee Stadium.”

Local business owners are optimistic not only about their shops but also about the baseball teams.

“All these owners were affected by the pandemic,” Yousef Abbadi, who owns Ballpark Sports Shop, told ABC7NY. “Hopefully we can rebound a little bit, even from the playoffs. Hopefully, we can make it to the World Series too.”

With postseason games back in New York City, this is not only a great experience for the economy but also for fans.

From this fan’s perspective, it’s hard to script a better return to the playoff experience,” Pinstripe Alley editor Jake Devinwrote. “It had the perfect balance of anxiety, stakes, catharsis, and fun.”