(Photo by Al Bello/Getty Images)

The New York Yankees have done the right thing.  They cut ticket prices for the premium seats in the new Yankee Stadium.

The areas of the Stadium where the price "slashing" will take effect are the Legends Suite (was $2500, now $1250), the seats on the outer half of the dugouts and the photo cages, and the first-row seats (was $1000, now $650), the final three sections down each foul line.

There will be adjustments to other sections of the stadium also.  In the first-row, for season tickets, the price will be $2500, but they will be giving free tickets for the remainder of the season.  First-row individual seats will be free for the first 24 games. 

Finally, in the Legends section, the $850 seats will be free for eight games, the $500 section will be free for four games, and the $600 ticket-holders will receive $500 seats for free for 10 games.  The $500 seat individual tickets will be free for eight games.

The Yankees are trying to get the numbers they had for the old Yankee stadium.  During the previous five years they averaged 53,069 (2008), 52,279 (2007), 52,392 (2006), 50,502 (2005), and 47,788 (2004).  In 2009 however, they are averaging 44,343.  That's their forth lowest total of the decade.

The numbers show, based on percentage, that the Yankees are sixth in the Major Leagues in attendance.  They are behind the Red Sox (101.6%), Phillies (95.9%), Cubs (95.8%), Angels (92.9%) and local market competitor the Mets (91%).  The Yankees currently stand at 84.7%.

The Yankees did not cut the prices enough however.  They should cut the prices more.  In these tough economic times, fans cannot afford those prices.  Furthermore, the fans are paying for your stadium.  So they deserve a bigger break.

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