Not only are the New York Yankees (12-4) off to a better on-field start than the Mets (7-8) in Queens, but the Bronx Bombers are also projected to generate about $250 million more than their crosstown rival in economic impact this season for New York City.
A new analysis dated April 9 from the New York City Economic Development Corporation claims that 2024 Yankees home games are expected to bring in a $606 million economic impact for the city. The same analysis says New York Mets home games are expected to generate a $353 million economic impact over the course of the 2024 regular season.
The two teams are expected to bring in a combined impact of $959 million this regular season, and that figure would likely surpass $1 billion in the event of a playoff run from either team.
“The Yankees and Mets will not only provide New York City with some of the most exciting games of the summer, but will support local businesses, create jobs, and generate nearly a billion dollars in economic impact — and hopefully, we’ll add even more to that with deep playoff runs,” NYC Mayor Eric Adams said in a press release.
Ticket Prices, Attendance Boost Yankees Over Mets
According to NYCEDC, the economic impact of Yankees home games is expected to be higher than Mets home games because of higher ticket prices and higher expected attendance in the Bronx.
The 2024 MLB attendance tracker from ESPN shows the Yankees currently rank second (behind only the Dodgers) in average home game fans so far this season with an average crowd of 39,279. That is significantly higher than the Mets’ 24,391 average crowd at Citi Field so far this season.
“Baseball season marks an exciting time of year for New Yorkers, and a great opportunity to stimulate our local economies” said NYCEDC President & CEO Andrew Kimball. “An over $950 million in economic impact will bring a massive boost to the city, helping small businesses, creating jobs, and bringing people to different neighborhoods. We wish both teams good luck and look forward to all that baseball season has to offer New York City.”
NYCEDC’s analysis accounts for expected sales from tickets, concessions, merchandise, transportation, and lodging for out-of-town fans going to Mets and Yankees home games. It also accounts for stadium employee payrolls and indirect impacts from additional spending by stadium companies and employees. The Mets entered this season with an MLB-leading $340 million payroll, while the Yankees ranked third with a $310 million payroll.
$780 Million Soccer Stadium Coming to Mets’ Backyard
Changes to further expand the economy around Citi Field are coming, as on April 11 Mayor Adams approved the second phase of the Willets Point redevelopment plan to build a new 25,000-seat soccer stadium next to the Mets ballpark for MLS’s New York City FC. The privately-financed $780 million stadium is expected to open in 2027.
The plan to redevelop Willets Point, an industrial area around Citi Field known for auto-body shops and junkyards, also includes 2,500 affordable housing units, an elementary school, 80,000 square feet of retail space, a hotel, and a park. Willets Point has long been thought to be the inspiration for the “Valley of Ashes” in F. Scott Fitzgerald’s 1925 novel “The Great Gatsby.”
“New York City will forever be transforming the ‘Valley of Ashes’ into a brand-new neighborhood with the largest affordable housing project in 40 years, much needed open space and infrastructure, a privately financed soccer-specific stadium, and thousands of quality jobs,” Kimball said. “Willets Point will truly become one of the premier sports and entertainment hubs in New York City.”
