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Audit Finds Yankees Underpaid NYC By $11M

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Nov 7, 2008 11:25 am US/Eastern

Audit Finds Yankees Underpaid NYC By $11M

DANA POINT, Calif. (AP) ― The Yankees are forking over millions of dollars to the city of New York for back rent.

An audit by city Comptroller William Thompson found that the team had underpaid the city by $11 million over a three-year period. The team is supposed to pay the city a percentage of all revenue from tickets, parking and cable television.

The Yankees have already paid more than $7 million owed to the city, with the balance to be paid next March.

Team spokesman Howard Rubenstein says the Yankees have "cooperated fully" and "has no problems with the audit."

(© 2010 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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