The New York Yankees (12-4) are outperforming the Mets (7-8) on the field and are expected to bring in approximately $250 million more in economic impact for New York City this season compared to their crosstown rivals.
A recent analysis from the New York City Economic Development Corporation states that Yankees home games in 2024 are projected to generate a $606 million economic impact for the city, while Mets home games are anticipated to bring in $353 million during the same period.
Together, the two teams are predicted to have a combined economic impact of $959 million this season, potentially surpassing $1 billion if either team makes a deep playoff run.
“Both the Yankees and Mets will not only offer thrilling games for New York City but will also boost the local economy, support businesses, create jobs, and generate nearly a billion dollars in economic impact,” said NYC Mayor Eric Adams in a press release.
The NYCEDC report notes that the higher economic impact from Yankees home games is due to their higher ticket prices and larger expected attendance compared to the Mets. ESPN’s 2024 MLB attendance tracker shows the Yankees currently rank second in average home game attendance, with an average crowd of 39,279, significantly higher than the Mets’ 24,391 average crowd at Citi Field.
“Baseball season brings great opportunities to stimulate local economies,” said NYCEDC President & CEO Andrew Kimball. “The over $950 million in economic impact is a massive boost for the city, supporting small businesses and creating jobs.”
We’re transforming a neighborhood known for junkyards into a vibrant community:
🏡 2,500 100% affordable apartments
🌲 150,000 square feet of public space
💸 Thousands of great jobs
⚽ Our first soccer-specific stadiumIt's happening in Willets Point: https://t.co/sAsuuf6dZh
— City of New York (@nycgov) April 13, 2024
NYCEDC’s analysis accounts for revenue from tickets, concessions, merchandise, transportation, and lodging for out-of-town fans attending home games for both teams, as well as payrolls and indirect impacts from spending by stadium companies and employees. The Mets began the season with the highest MLB payroll of $340 million, while the Yankees ranked third with $310 million.
Meanwhile, developments around Citi Field include plans for a new 25,000-seat soccer stadium for MLS’s New York City FC. The $780 million privately financed stadium is set to open in 2027.
Mayor Adams recently approved the second phase of the Willets Point redevelopment plan, which includes the construction of the stadium, affordable housing units, retail space, a hotel, and a park. This area, known for auto-body shops and junkyards, is being revitalized into a premier sports and entertainment hub in the city.
“New York City is transforming the ‘Valley of Ashes’ into a vibrant new neighborhood with a major affordable housing project, open space, infrastructure, and a privately financed soccer stadium,” Kimball added.