Report: An announcement could come by May 1

Updated: April 16, 2005, 10:20 AM ET
Associated Press

NEW YORK -- The New York Yankees are close to reaching an agreement with city and state governments to build a new stadium, the Daily News reported Saturday.

Citing unnamed sources, the newspaper reported that lawyers from the city, state and team are completing a "memorandum of understanding" and that an announcement is expected around May 1.

While government and team officials did not comment directly about plans or the pending agreement, the newspaper said they did confirm ...

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