Yankee Stadium is a stadium located in the Bronx. It serves as the home ballpark for the New York Yankees, replacing the previous Yankee Stadium, built in 1923. The new ballpark was constructed across the street, north-northeast of the 1923 Yankee Stadium, on the former site of Macombs Dam Park.
The first event at the new Yankee Stadium was an exhibition game played on April 3, 2009, when the Yankees hosted one of two preseason games against the Chicago Cubs, ending in a 7–4 victory. The first regular season game was played on April 16, 2009 when the Yankees lost 10–2 to the Cleveland Indians.
Much of the stadium incorporates design elements from the previous Yankee Stadium, while paying homage to the Yankees' history. Although the stadium began construction in August 2006, the project of building a new stadium for the Yankees is one that has spanned many years and faced many controversies. Financing for the stadium has been a very divisive issue, with New York City citizens criticizing the city's decision to use funds to build the sports venue, instead of using it for other pressing issues. The projected total cost of the stadium is $1.5 billion, making it the most expensive stadium in the world after Wembley Stadium.
Groundbreaking ceremonies for the stadium took place on August 16, 2006, the 58th anniversary of Babe Ruth's death, with George Steinbrenner (the Yankees' owner), Michael Bloomberg (the Mayor of New York City) and George Pataki (then the Governor of New York) among the notables donning Yankees hard hats and wielding ceremonial shovels to mark the occasion.