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Some Yankee Stadium Seats Are Overpriced, Hal Steinbrenner Says

By Mason Levinson

April 2 (Bloomberg) -- Some of the seats at the New York Yankees’ new $1.5 billion ballpark may be overpriced because of the recession, managing general partner Hal Steinbrenner said.

“If anybody in any business had known where this economy was going to go, they would have done things differently,” Steinbrenner said at a news conference today as the team unveiled the new Yankee Stadium to fans for a team workout. “There’s no doubt small amounts of our tickets might be overpriced. We’re continuing to look into that.”

The Yankees’ premium Legends Suites seats, those closest to home plate, were priced from $500-$2500 as part of season-ticket packages when the Major League Baseball team began selling them in 2008. Some of the seats remain available for single games, with the price rising to $2,625, according to the Yankees’ Web site.

The Yankees have sold 35,000 full-season equivalents and pricing for “the vast majority of them seems to be right on,” Steinbrenner said.

He defended the grandeur of the 52,325-seat stadium and its opening during the deepest economic slump since the Great Depression.

“We started building this 2 1/2 years ago, and there’s no doubt times were different,” he said. “I don’t see this as ostentatious or flashy. I see it as classy.”

The Yankees will play exhibitions at Yankee Stadium versus the Chicago Cubs on April 3-4, while the regular-season home opener is April 16 against the Cleveland Indians.

To contact the reporter on this story: Mason Levinson in New York at mlevinson@bloomberg.net.

Last Updated: April 2, 2009 15:54 EDT

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