Sunday, March 04, 2012
Financial records show that Citi Field revenues have dropped more than 30 percent
The financial documents obtained by Newsday show that concession revenue alone dropped 28 percent since 2009, to $10.9 million in 2011. Newsday reports that parking was down 37 percent, to $7 million.
Ticket sales for the 10,635 premium seats declined from $99.3 million in 2009 to $50.6 million through 2011. The seats are about 25 percent of the stadium.
The documents highlight some of team’s financial struggles following the fraud committed by Bernard Madoff. The owners of the Mets are being sued by a bankruptcy trustee trying to recoup some of the $50 billion in Madoff fraud money.