finance Page 5 - Sports News, Headlines & Highlights
Pistons Home Games Are Already Attendance Disasters
You know that sparkling new arena that Detroit and its citizens paid a hefty chunk of $863 million for? Yeah, nobody is going to games there....
Las Vegas Sneakily Gave Away $80 Million For A New Triple-A Stadium
If you read the press release announcing the construction of a new ballpark out in Summerlin, Nev. for the Las Vegas 51s, you might have thought that the construction would mercifully be completed without use of public money. The Raiders’ stadium deal is the worst heist in American history, and one ...
Here Is Another Incredibly Sad Attempt At Arena Financing Grift
The New Orleans Pelicans will launch a developmental-league team before the start of the 2018-19 season, but first, they have to decide where it’ll go. Five cities were initially vying for the right to join the NBA’s minor league (which recently rebranded to serve as an advertisement for a sports dr...
The Desperate Future Of Cal Athletics Is Here
The athletics program at the University of California, Berkeley, in, say, 2037 will barely resemble what you see today. And the hammer is already starting to fall....
Why Is Detroit's City Council Giving Away Free Money To Billionaires?
If you go to the Detroit Pistons’ website, you can buy season tickets for the 2017-18 season, their first in a brand-new arena named after a pizza company. The move to downtown Detroit, where they haven’t played since 1978, has sparked such interest that they’re ranked second among NBA teams for new...
The Braves Will Wring An Extra $30 Million Out Of Taxpayers For Traffic Control
The Atlanta Braves began this season playing in a shiny new stadium located out in Cobb County. The new ballpark cost local taxpayers nearly $400 million, and at one point, the county was forced to raise taxes to pay for public parks because they’d overpaid so severely for the stadium, which is alre...
Vikings' New Stadium Struggling With Leaky Walls, Loose Panels
Less than a year after it opened, the Vikings’ new stadium has leaky walls and loose panels with no clear plan for scheduling or funding repairs, according to reporting by the Minneapolis Star Tribune. ...
This Is The Saddest Attempted Stadium Grift I've Ever Seen<em></em><em></em>
Earlier this week, the NCAA announced that the men’s and women’s basketball tournaments will be returning in 2022 to Cincinnati, Ohio, for the first time in over 30 years. The bid to bring back first- and second-round games was won by the owners of the former Riverfront Coliseum, the largest indoor ...
Florida's Go-To Stadium Economist Is A Hack, A Shill, And Also Not An Economist<em></em>
If you are even a casual Deadspin reader, you know a couple of truths: Stadiums and arenas provide little-to-no economic benefit to their communities, and studies written to support public funding for stadiums and arenas are almost universally bogus. Tampa CBS-affiliate WTSP found a frightening coll...
St. Louis Citizens Reject Paying For An MLS Stadium
St. Louis is one of 12 cities vying a spot in the next round of MLS expansion, which will see four new teams join the league over the next few years. Sacramento is virtually assured a spot, despite some wild ownership shenanigans, which means that the other cities up for a spot face stiffer competit...
Oakland Taxpayers Will Still Be On The Hook For $163 Million After The Raiders And Warriors Leave<em></em><em></em><em></em>
When the city of Oakland brought the Raiders back from Los Angeles in 1995, then-mayor Elihu Harris enticed Al Davis with $200 million in improvements to the Oakland Coliseum. The city paid for the construction with taxpayer-backed bonds, and their initial plan was to pay off the bond by selling per...
Jose Calderon Had A Great Two Hours At The Office
A play, in three acts:...
The FBI Is Now Investigating Hartford's Disaster Of A Minor-League Stadium Deal
The Rockies’ Double-A affiliate in Hartford, Conn. has run into plenty of problems since deciding to build a taxpayer-funded ballpark two years ago, including but not limited to lawsuits and construction delays. Here’s a new one: an FBI probe into how public money has been spent on the new park....
Finance Dudes Stroking It To Finance Jargon
A new startup has launched that offers a new way for savvy investors to loan you a little money and get a lot more money back from you in return. Or, to put it another way......
How To Get By In The Minors On $1,500 A Month<em></em>
Matt Paré, a catcher with the San Francisco Giants’ Single A affiliate in Augusta, Ga., doesn’t seem to mind sharing a two-bedroom apartment with three other guys. “Since half the time we’re on the road, it’s only 15 days a month,” he says. On the road, he shares a hotel room with just one of those ...
Tips For Getting Your First Credit Card As An Adult
If you’re an adult without a credit card, the barrier to entry can seem to loom a lot larger than it actually is. Somehow, during the inescapable progression of getting older, you missed a step in the far more deliberate process of growing up and now, not only do you not have a credit card, you don’...
I Don't Fully Believe That NBA Players Spend Their Riches At Express
You might be unfazed by a new study that told you the average player in the NBA—where the average salary last season was $4 million and the median salary was just shy of $2 million—spends $42,500 a month. (Give him another week and he’ll spend more than the median American household earns in a year:...
The New Stadium For Hartford's Minor League Baseball Team Is A Total Mess
The Rockies’ AA affiliate Hartford Yard Goats are performing well enough in their first season, and sit in third place in the Eastern League, but the Connecticut club’s stadium situation is a different story. To make matters worse, the mayor and developers are blaming each other for the fiasco....
Report: Richard Pitino Overspent Private Jet Allowance With Permission Of Sexually Harassing Ex-AD
Remember Norwood Teague, the former University of Minnesota athletic director who resigned last fall after he sexually harassed a number of women? A recent university audit found that, apparently with his encouragement, the Gopher men’s and women’s basketball teams misspent hundreds of thousands of ...
How To Share Money In A Relationship
We spend huge chunks of our lives trying to acquire both love and money. At some point, though, we’d all kind of like to have both. And when you do—and you and your significant other have been living together in sweaty sin long enough—there then comes a time where your financial future becomes plura...