Investors rush to own piece of Yankee Stadium
The Yankees sold out $259 million in tax-free bonds yesterday to pay for their new stadium, according to Goldman Sachs, the underwriters of the sale. Investors snapped up $192 million worth of the 40-year bonds that offered 7 percent interest. The rest of the bonds had varying rates of maturity and interest, but sold just as well. Who doesnt want to own a piece of Yankee Stadium, said Tom Doe of Municipal Market Advisors.