"Good Morning. This is Mayor Mike Bloomberg.

"Yankee Stadium, the House that Ruth Built, perhaps the greatest cathedral in all of sport. Since opening in April 1923, it's played host to shutouts and knockouts, to popes and pigskin, to Joltin' Joe and Billy Joel and hundreds of other memorable moments.

"Now, get ready to add one more great event to that list. On Wednesday, Major League Baseball and Commissioner Bud Selig announced that the 2008 All-Star Game will take place at Yankee Stadium. In recent years, the game has been used to showcase the sport's newest ballparks. But in this case, the game will be an occasion to commemorate the final season at our most storied stadium before the team moves across the street into its new home.

"In many ways, the game will be a celebration of two New York teams. That's because both the Yankees and the Mets will be opening new, state-of-the-art, privately-financed, ballparks the following year. We've broken ground on both facilities within the past six months and when the gates finally open and the bats start swinging; they will help drive major revitalizations in Flushing and the South Bronx.

"Major League Baseball's decision to bring the All-Star Game to Yankee Stadium is also a testament to how far the city has come in recent years. There is a lot of competition to host these kinds of events. But by making our streets safer and cleaner than they have been in decades and by promoting the world-class resources that make us unique, we've been able to attract big events - like the Latin Grammys and the Country Music Association Awards.

"In fact, our City's Economic Development Corporation expects that the All-Star Game and the activities leading up to it will generate nearly $150 million in new business. That's money spent in our hotels, in our restaurants, and in our stores, which will then ripple throughout our local economy.

"Just as importantly, the game will be watched in 100 million homes in 226 countries around the world. Showcasing our city to such a huge, diverse television audience is equal to millions of dollars in free advertising and will help us attract even more business and visitors to our city in the years to come.

"Yes, the 2008 All-Star Game is going to be a great moment for baseball fans, but considering all the visitors it's going to bring to town, this is something every New Yorker can cheer about. For those of you scoring at home, this will be the fourth time that Yankee Stadium has hosted the All-Star Game. The event was previously held there in 1939, 1960, and 1977. And as any baseball buff will be quick to point in each of those years, the Yanks then went on to play in the World Series.

"So while the 2008 All-Star Game will certainly be a wonderful moment in the Stadium's final season, my hunch is that it won't be the last.

"This is Mayor Mike Bloomberg. Thanks for listening."