The Boston Redevelopment Authority sees the Boston Red Sox making millions off team activity on Yawkey Way and Landsdowne Street — so higher rent is on the agenda.
The Red Sox do have a pretty sweet deal for extended Yawkey Way game-day access and air rights to Landsdowne Street for the Green Monster seating under an 11-year lease that began in 2002: some $186,000 a year in lease fees, on average. (The Red Sox close Yawkey Way two hours before the game and keep it closed two hours after the game, paying $900 per game to the redevelopment authority.) If you total all the pregame sales for concessions on Yawkey Way on game days and seating/concessions for the Green Monster addition, the team is ahead some $45 million since the agreement started, according to computations from the Boston Globe.
Of course, this sweet a deal won’t last forever. As the agreements come up in another two years, negotiations are already underway on a new deal. It sound like the redevelopment authority will seek a percentage of revenues, rather than just be paid a flat fee.
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