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Bank of America extends deal with Yankees

 
Anonymous Coward
User ID: 646036
United States
03/30/2009 11:38 AM
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Bank of America extends deal with Yankees
Bank of America (NYSE: BAC) is taking a nice chunk of the money it received from the United States taxpayer and plowing it into a worthy cause: the New York Yankees.

Yes, America's least favorite welfare brat is extending its sponsorship of the Evil Empire after breaking off talks on a long-term sponsorship of the new stadium at the beginning of the month.

Bank of America Joe Goode said Friday that "while we couldn't proceed with a long-term partnership, we have extended our current sponsorship agreement with the Yankees for one more year."

Bank of America has said that it generates $10 in revenue for every $1 it invests in sports marketing, and nets $3 of that amount in income. I'm wonderfully curious about how Bank of America can possibly prove that, but I guess we'll have to take their word for it.

It just doesn't quite seem right that the United States taxpayer has to subsidize the most powerful bank in the country, which in turn takes that money and subsidizes the most powerful baseball team on the planet, one that has been accused of upsetting the competitive balance in the sport.

I say we make Bank of America give the money to the Kansas City Royals and the Pittsburgh Pirates.


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