Phase Three Is Complete: Yankees and Cowboys Now Business Partners

Like Brad Pitt and Angelina Jolie, only a lot more demented, the New York Yankees and Dallas Cowboys were basically meant for each other. Both are teams that print money like a really big, flashy ATM machine; both organizations are known for grabbing the best available player, damn the cost or the character.

Daniel Kaplan and Don Muret of The SportsBusiness Journal are reporting that the two teams have gone in on a business venture together -- a concessions company called Legends Hospitality Management -- which sounds more like it's intended for a hospice than a sports stadium service.

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The Yankees and Cowboys each own a third of the company, with Goldman Sachs owning most of the rest for the first-of-its-kind venture.

Legends will manage regular concessions, suite catering and team stores at the new Yankees and Cowboys stadiums, which are set to open next year at a cost of more than $1 billion each. Legends also will pursue accounts in the major leagues, college sports and abroad, the sources said.

The first-of-its-kind initiative between two of pro sports' star teams is the idea of Gerry Cardinale, the Goldman managing director who helped create the Yankees' regional sports channel, the YES Network, and brokered the return of Alex Rodriguez to the team last year.

Talk about a good idea; the Yanks and 'Boys just decided they might as well keep the money in the family, raising $100 million earlier this month to get the company rolling.

You know that old saying, "the rich just keep getting richer?" Well, that pertains to this situation, with two men, Jerry Jones and Hal Steinbrenner (George was involved but "took a backseat" in the process), eyeing an idea and pushing in their respective chips.

Anyone want to start throwing numbers around on how much a beer and hot dog costs at these new stadiums? I'm saying $14 for a beer, $9 for a dog. Too low?

[PFT]

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