Even memorabilia worth $200K?
And to a mayor who helped get massive taxpayer support for a new Yankee Stadium?
They didn't give it to him, they let him buy it (which alone is preferrential treamtment).
That said, that ring wasn't worth 200K when he got it, and its harder to asses future value on gifts like that.
That said, there is a massive conflict of interest regarding his use of taxpayer funds for the team and his recieving special treatment.