(wiki has told me the answer)

The reason for the name is that the area of land that the stadium lies upon is called ‘New York’ and it was thought that it would be better to name the stadium after history and/or where the stadium is situated, like nearby stadiums Bramall Lane and Hillsborough. Also the Guest and Chrimes Foundry [on the site of which the ground is built] used to make fire hydrants for New York City.

Chairman Tony Stewart also hopes that the name could bring investment from New York City or further afield, as the New York Yankees chairman had recently said that he wanted to invest in an English football team.

The last bit sounds somewhat optimistic...

Posted By: Tricky Hawes, Jan 28, 17:19:22