Red Sox purchase air rights over Lansdowne Street
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| foto by Boston Globe (2013) |
Contributing Writer
The Boston Globe reported that the Boston Red Sox have purchased the rights to sell concessions on Yawkey Way and in the air over Lansdowne Street, costing them annually around $734,000 over the next 10 seasons.
The $7.3 million dollar deal gives them the right to close a 17,000-square-foot strip of Yawkey Way for concessions as long as the Red Sox are playing at Fenway. They can also continue to sell Monster Dogs on the top of the Green Monster that actually hangs in the air over Lansdowne Street.
You can see this as a renewal for the space already being used, just costing the Red Sox approximately four times the amount they previously paid, an annual fee of around $165,000. Real estate prices in Boston has gone up and the Red Sox are feeling that here, but they have also seen revenue increase rapidly over the years due to insanely steep Green Monster ticket prices.
This deal was approved by the Boston Redevelopment Authority (BRA) and it was noted that the agreement includes a reduction for the property that the city took from the Red Sox to connect Boylston Street and Yawkey Way with a new road. "We owe the Red Sox $2.6 million," BRA director Peter Meade said. "Frankly, we don't have $2.6 million."
Rest assured Red Sox fans, you will be able to buy your dogs on the Green Monster, your drinks on Yawkey Way for the next 10 years.
That is, if you have any money left after buying your tickets to get onto the Green Monster.
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