[Photo courtesy of oldbones77/flickr]
Remember the Community Benefits Agreement that the Yankees agreed to a few years ago as part of the new Yankee Stadium deal? It required the team to set up a $28 million trust fund and give $1.2 million a year to different groups in the community through 2046.Today's Times reports that 19 months later "none of that money has been distributed, and the group responsible for administering it has never met." The panel that was supposed to dole out the Steinbrenner Bucks doesn't have a permanent chair, it hasn't registered as a charity with the IRS or the state and hasn't picked recipients for $800,000 in grants and $450,000 in free tickets, merchandise and athletic equipment. Local officials say they have no clue what's going on. The Yankees say it's up to the panel to dole out the money and goodies. Free A-Rod shirts for every community group in the South Bronx by opening day 2009, for sure.
· Stadium Goes Up, But Bronx Still Seeks Benefits [NYT]
· Stadium Showdown: Mets Finally Beating Yankees [Curbed]