Red Wings Generously Agree To Accept Huge Sums Of Money From Public

Yesterday, the Detroit Red Wings unveiled plans for their brand new publicly subsidized $450 million arena development. The arena, which promises to include $200 million additional investments in mixed-used development, will break ground in September. The Ilitch family, which owns the Red Wings and Tigers, is calling… » 7/21/14 10:33am 7/21/14 10:33am

Opponents Barred From Speaking As Cobb County Approves Braves Stadium

This is the point where you just tip your cap to the Braves, and acknowledge that they won. Even at a time when politicians and taxpayers are getting wary about publicly funding stadiums, the Braves just walked away with nearly $400 million from Cobb County, Ga., for a new ballpark, and did so without the nasty… » 5/28/14 8:56am 5/28/14 8:56am

Inside The Barclays Center's Mysterious Meditation Room

In exchange for giving Forest City Ratner more than $300 million in public subsidies to build the Barclays Center in downtown Brooklyn (and that's not counting additional tax breaks and below-market land), the developer promised to give back to the community, including affordable housing, and new railyards. Precisely… » 3/21/14 11:41am 3/21/14 11:41am

Six Ways The Florida Panthers Want To Screw Broward County

The Panthers want public funds to fix up the BB&T Center. Something in the neighborhood of $80 million in tax subsidies would be nice. They're asking because it'd be corporately negligent for a franchise not to at least try to milk taxpayers out of cash for something that won't economically contribute to the area, and… » 3/18/14 2:04pm 3/18/14 2:04pm

Dolphins Offer To Pay For Majority Of Sun Life Stadium Upgrades

Just nine months after trying—and failing—to get nearly $400 million in taxpayer dollars to pay for renovations to Sun Life Stadium, word comes out of Miami that Dolphins owner Stephen Ross is willing to pay for the majority of the upgrades himself. This should be remembered every time a team tries to hold its city or… » 3/10/14 6:49pm 3/10/14 6:49pm

Rams Owner Buys Stadium-Sized Site In Los Angeles

There have been so many rumors and pie-in-the-sky dreams about a Los Angeles football stadium that we won't believe it's happening until they actually cut the ribbon. But so far, nothing has come to nothing because those dreams were held by rich men hoping to lure an NFL team to L.A. This one's different. The man who… » 1/31/14 9:19am 1/31/14 9:19am

Reports: The Nationals Asked D.C. To Buy Them A Roof For $300 Million

The math of stadium financing always seems to be addition. Nationals Park opened in 2008, and the $693 million ballpark was entirely paid for through public funding. Now, according to multiple reports out of Washington, the Nats have approached local officials about building a retractable roof over the stadium, with… » 11/26/13 5:45pm 11/26/13 5:45pm

For The First Time Ever, The Miami Heat Paid Rent

The financing on American Airlines Arena, which opened on Dec. 31, 1999, is unique. The Heat paid the full construction costs of the $213-million building, which is owned Miami-Dade County. That's good! In exchange, Miami-Dade gave them the $38-million plot of land, and promised $6.5 million in annual subsidies.… » 11/22/13 6:06pm 11/22/13 6:06pm

This Is The Best Idea For Stadium Financing We've Ever Heard

The use of taxpayer money to buy rich people new stadiums is as common as it is shameless. But one politician, currently trying to avoid throwing in tens of millions of dollars for a soccer stadium, has a brilliant idea: If a city or county pays for a large chunk of a team's home, they ought to own a slice of that… » 8/21/13 6:04pm 8/21/13 6:04pm