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Stadium Deals Newsbeat

Thursday, April 16, 2015

PawSox want $4M a year from RI for Prov. stadium | wpri.com

Help recoup the cost? This is a bad deal for Providence and Rhode Island.

Skeffington said the new owners would put up the $85 million required to design and build the ballpark, but would seek state and city subsidies after it’s finished to help recoup the cost. They also want a 30-year lease on the land – at $1 a year – from the I-195 Redevelopment District Commission and Brown University, with an option to buy it at fair market value at the end of the lease.

The team is asking state lawmakers to approve a guaranteed 30-year state lease of the new stadium that would commit taxpayers to pay about $5 million a year in rent, which would come out to $150 million over the life of the lease. The team would then sublease the stadium back from the state for $1 million a year, putting the net cost to taxpayers at $4 million annually, or $120 million over the life of the lease.

Jim Furtado Posted: April 16, 2015 at 06:57 AM | 13 comment(s)
  Beats: minor league baseball, red sox, stadium deals

Wednesday, March 18, 2015


Tuesday, March 17, 2015

Is Obama proposal the end of taxpayer-subsidized sports stadiums?

I’ve railed against government-financing of stadiums for years and years. I learned a long time ago what terrible waste of tax-payer money it is. I would love to see the practice ended. I’ve also learned that, if there is a way for our elected officials to screw up a good idea, they will find it.

Jim Furtado Posted: March 17, 2015 at 09:03 AM | 39 comment(s)
  Beats: stadium deals, stadium financing

Monday, March 16, 2015

Braves, Comcast will unveil major stadium deal | www.ajc.com

How many times will Comcast make them reschedule?

Jim Furtado Posted: March 16, 2015 at 07:25 PM | 11 comment(s)
  Beats: braves, stadium deals

Friday, December 19, 2014

How the Rays lost the City Council vote - DRaysBay

Naked greed is never appealing.

Jim Furtado Posted: December 19, 2014 at 09:06 AM | 4 comment(s)
  Beats: rays, stadium deals

Thursday, December 18, 2014

Saint Pete City Council Tells Rays NYET!

The Havana Rays has a nice ring to it, don’t you think?

The City Council of St. Petersburg has denied a deal that would allow the Rays to look outside the City of St. Petersburg for a new stadium location.

Kennedy then also questioned why the Rays should maintain 50% of redevelopment rights for Tropicana Field if they chose to leave. This appeared to be a strong sticking point to the Council, given their inability to renegotiate with the team on the proposed to deal.

In good faith, Kennedy then made a motion for the Council to schedule a workshop to discuss building a new stadium within the city of St. Petersburg.

The Council voted on and approved the matter immediately and unanimously, led by Kennedy with the hope to put, “real numbers on the table… that will allow the Rays to realize it’s worthwhile to spend some time evaluating what they can do in the City of St. Petersburg,” echoing Auld’s intent for “the next generation.”

boteman asks Where's My Ring? Posted: December 18, 2014 at 08:23 PM | 3 comment(s)
  Beats: havana, montreal, politics, stadium deals, tampa bay rays

Wednesday, December 10, 2014

Sternberg: If deal fails, Rays may leave area | Tampa Bay Times

Let them move.

Having spent years working toward the agreement for permission to look for new stadium sites, Rays principal owner Stuart Sternberg remains confident that with a perfectly designed and located new ballpark, baseball can be a smashing success in the Tampa Bay area.

But if the agreement is not approved and a new stadium is not under construction within the next few years, Sternberg said there will be no baseball at all — “we’re doomed to leave” — as he likely will sell the team, and a new owner will move it after the Tropicana Field lease expires in 2027.

Jim Furtado Posted: December 10, 2014 at 06:27 AM | 32 comment(s)
  Beats: rays, stadium deals

Tuesday, December 09, 2014

Sternberg calls deal fair, says with no new stadium team likely to be sold, moved

Having finally reached what he considers a fair agreement with St. Petersburg to look for stadium sites in Tampa, Rays principal owner Stuart Sternberg restated his confidence in the Tampa Bay area as a strong market for Major League Baseball.

But he also said that if the agreement is not approved and there is no deal in place within the next few years for a new stadium to be built, he likely will sell the team and would expect it to be moved out of the Tampa Bay area when the Trop lease runs out in 2027.

“I’m not leaving. I’m not moving this team. I’m not taking this team out of the area. But that’s me,’’ Sternberg said at baseball’s winter meetings in San Diego. “The chances of me owning this team in 2023 if we don’t have a new stadium are probably nil. Somebody else will take it and move it. It’s not a threat, just the reality. I won’t be sitting here 10 years from now waiting it out to move the team.’‘

While acknowledging approval by the St. Petersburg City Council on Thursday remains “a big hurdle,” Sternberg said he believes that approval can lead to success in the market.

“I think baseball can still flourish down here and I’m looking for the oppotunity to make that happen,’’ Sternberg said. “We need to get the building and the location pinpoint perfect for that to happen.’‘

RoyalsRetro (AG#1F) Posted: December 09, 2014 at 02:53 PM | 9 comment(s)
  Beats: montreal, rays, relocation, stadium deals, tampa

Monday, December 08, 2014

Rays and Kriseman reach agreement to allow Hillsborough stadium search

Mayor Rick Kriseman and the Tampa Bay Rays have reached an agreement to let the team search for new stadium sites in Hillsborough County in exchange for payments to the city if the team leaves before its contract at Tropicana Field expires in 2027.

Kriseman wants to the City Council to discuss the agreement at its meeting on Thursday.

Payments would be based on how many years would remain on the Trop lease if the Rays left, starting at $4 million a season until December 2018, dropping to $3 million a season from 2019 to 2022 and $2 million from 2023 through 2026.

Is Montreal in Hillsborough County?

RoyalsRetro (AG#1F) Posted: December 08, 2014 at 05:21 PM | 10 comment(s)
  Beats: expos, hillsborough county, rays, stadium deals

 

 

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