What’s The Deal?

According to PA, Jake Peavy, the Padres’ ace that will likely be dealt before the winter meetings, isn’t very interested in pitching in NYC. First CC, now Peavy? Come on guys, seriously?

Get Money, Money

From USA Today (via Reuters):

CHICAGO (Reuters) — Two of the most recognized sports teams — the New York Yankees and the Dallas Cowboys — have formed a sports business company with Goldman Sachs Group (GS) and a Texas private equity firm to provide fans with a better stadium experience.

Goldman, CIC Partners in Dallas and the two teams said Monday that Legends Hospitality Management will offer a broad range of sports business services. It will focus initially on catering, concessions, retail merchandising and other services for major sports and entertainment facilities.

Legends’ creation is not a surprise, given how much Major League Baseball’s Yankees and the National Football League’s Cowboys have riding on drawing fans to their new stadiums even as they raise ticket prices in the increasingly weak U.S. economy, said Robert Boland, professor of sports management at New York University.

“Clearly, the economy is telling us this is getting harder and harder for teams to sell these tickets, and it’s important they come forward with a reason to show fans that these are more than just tickets, that there’s something else attached,” he said.

SPORTS AND ECONOMY: Sports also paying a price as economy struggles

“The one problem that every pro team is facing right now is they’re charging more than their fans can afford,” he added.

Major League Baseball reported a decline of almost 1% in per-game attendance during the regular season, and the commissioners in baseball and the NFL have warned about the economy’s impact on fan spending.

Officials for both the Yankees and Cowboys seemed to recognize that dynamic in forming Legends.

“The old model of stadium concessions is broken,” Yankees co-Chairman Hal Steinbrenner said in a statement. “Fans want and deserve a better experience for their sports entertainment dollar.”

Based in New Jersey, Legends will be led by Michael Rawlings, former president of Pizza Hut, a unit of Yum Brands (YUM).

Legends will expand beyond its founding teams to offer services to other pro and college teams and other event facilities worldwide, the companies said. It also will broaden its capabilities through a combination of acquisitions, strategic partnerships and continued internal growth.

Even if you hate the Yankees, you can’t hate on their money-making ways. They’re an intelligent group that is ahead of the curve when it comes to smart business deals.