stadium-financing Page 8 - Sports News, Headlines & Highlights
Has Detroit Found An Answer To The Publicly Financed Stadium Scam?
When Marathon Petroleum received a $175 million tax break from the city of Detroit in 2007, they promised jobs for Detroiters. And, as of last January, the $2.2 billion expansion of Marathon's refinery on the city's southwest side had, in fact, created new jobs for tax-paying residents —all of 15 of...
Taxpayers, Fans Winners As St. Petersburg Rejects Rays Stadium Deal
St. Petersburg's city council rejected an agreement with the Tampa Bay Rays that would have allowed the team to seek new stadium sites while providing the MLB franchise an out from its lease with the city that locks them into Tropicana Field through 2027....
Washington D.C. Politicians Being Shady As Shit About New Soccer Stadium
The debate over an arena for D.C. United—with a proposed site cost of $300 million, it would be by far the most expensive soccer-specific stadium project in the country—has been long and contentious but stands on the verge of a major step: the approval of the Washington D.C. City Council. But the da...
How To Call A Team's Bluff On Stadium Subsidies
Today, the Angels walked away from negotiations on a deal to renovate Angel Stadium, all because the city did something every city ought to do when its sports team comes looking for handouts: Anaheim did its homework....
Raiders Closing In On Stadium Deal To Keep Team In Oakland
It looks like Oakland Raiders owner Mark Davis got exactly what he wanted out of all of those fancy steak dinners in San Antonio and all that public kissy-face with Los Angeles. According to the San Francisco Chronicle, the city of Oakland has cobbled together a deal for a new stadium that would k...
Dan Snyder Wants A New Stadium Because FedEx Field "Is 17 Years Old Now"
Dan Snyder wants a new stadium, and it's the perfect storm of one of sports' most odious owners taking his turn at one of sports' biggest scams. ...
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...
Cleveland Politician Proposes Tying Stadium Money To Wins
Last year, voters in Cuyahoga County approved a 20-year extension of a sin tax to pay for upkeep on Cleveland's three pro sports stadiums. Today, one elected official presented a proposal to tie part of that payout to the teams' performance. He calls it, a little obviously, a "win tax."...
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 witho...
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 ra...
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 contribu...
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 ...
Detroit Scam City: How The Red Wings Took Hockeytown For All It Had
The following is excerpted from a feature running in Next City's weekly Forefront series on urban issues. ...
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 diff...
The Florida Panthers Want $80 Million In Taxpayer Money, Just Because
The use of public funds on sports stadiums and arenas is bad enough, but at least there's a concrete goal: a new building, or renovations. The Florida Panthers have asked Broward County for $80 million in tax revenue with no specific end in mind; they'd just really like the cash....
Here Is A Lie
Raymond James Stadium will host the 2017 college football national championship game. Hillsborough County Commissioner Ken Hagan has a highly scientific prediction that it'll be the single greatest thing that's ever happened to Tampa's economy:...
New York's Second MLS Team May Have Its Stadium
New York appears close to an agreement with incoming MLS team NYCFC to build a 28,000-seat, $400 million stadium in the Bronx. ...
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 ...
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 annu...