THE BRONX - The former administrator of the New York Yankees Community Benefits Fund has filed a lawsuit against the nonprofit organization for allegedly mismanaging the team's donations.
Attorney Michael Drezin filed the lawsuit in a Bronx court Tuesday, claiming chairman Serafin Mariel mismanaged the Yankees' donation funds by depositing $800,000 in a non-interest-bearing account at a bank he co-founded. Drezin says the funds should have been deposited at an independent institution that would pay more interest.
Drezin says the nonprofit also failed to pay him $35,000 for his services, which he is seeking, in addition to Mariel's removal as chairman, in the lawsuit.
The Yankees' fund was set up to donate $800,000 to the Bronx community in the deal that allowed the Yankees to construct a new stadium. The team also agreed to provide Bronx community groups with thousands of dollars worth of free tickets and merchandise. Community advocates have criticized the nonprofit for taking too long to make the required donations.
AP wire services contributed to this report