Embarrassed by huge chunks of empty seats on the teevee in the high end seats, the New York Yankees have decided to drop the prices of the uber premium seats as much as 50%. The Wall Street Journal this morning pointed out the folly (and when the Wall Street Journal is jumping in your business over sports you know you have a PR crisis on your hands) of having the rest of the stadium, the taxpayer subsidized stadium we might add, packed in the cheaper seats while the gold bar and caviar sections were empty.
The Yankees have said some of the tickets that don't sell at the new lower prices will be donated.
Ever petulant, Yankees Managing General Partner Hal Steinbrenner said these changes in prices were for this year only, there is no problem with the overall pricing strategy. We disagree, $2500 is overpriced for any seat at any sporting event. Overpriced is overpriced. We'd be willing to bet Mr. Steinbrenner a couple of hot dogs that those seats will be sold for less next year or he'll be facing the same problem he has now: the equivalent of several car payments to see a 3rd place team playing .500 baseball.