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Stadium Deals Newsbeat

Thursday, June 23, 2016

News 8 analysis: Arlington could give away millions in stadium deal | WFAA.com

When $500 million isn’t enough.

City of Arlington officials have touted a “50-50” private-public partnership to build a proposed $1 billion retractable roof stadium for the Texas Rangers.

A WFAA-TV investigation, however, has found taxpayers may instead pick up to 80 percent of the tab, which amounts to hundreds of millions of dollars more than initially promised by city leaders.

Last month, the Arlington City Council unanimously approved a “Master Agreement” to ask voters to extend sales, car rental, and hotel occupancy taxes that have been used to build AT&T Stadium, home of the Dallas Cowboys.

Jim Furtado Posted: June 23, 2016 at 01:54 PM | 21 comment(s)
  Beats: stadium deals

Wednesday, June 08, 2016

Rangers stadium to cost Arlington well over $500m, local paper more concerned about its code name | Field of Schemes

Another rip off.

Add in the city’s costs from providing free (and property-tax-free) parking lots for the new stadium, plus possible costs from any shortfall in revenues that the Rangers would use to pay off their own share of stadium bonds (which will actually be sold by the city, presumably to get around paying income tax on things like naming rights and PSL sales), and the projected public cost is headed well north of half a billion dollars, though how far north is hard to say. When I have more time I’ll dig through the fine print of the stadium agreement to see if there’s anything in there to help clarify things; if you want to do the same, you can now find it here.

Jim Furtado Posted: June 08, 2016 at 09:35 AM | 2 comment(s)
  Beats: stadium deals

Thursday, April 07, 2016

Adelanto’s baseball dream turns into a $1-a-year nightmare

High coin, baby. [High Desert, that is.]


Thursday, March 24, 2016

Diamondbacks CEO: We might bolt Chase if not upgraded

I’ve had it with this type of baloney. The teams don’t need taxpayer money. Ever.

The county refused the team’s request in a letter Wednesday, saying taxpayers built the facility with $238 million in sales taxes. The letter also states the team, according to its contract with the county, is prohibited from trying to move until 2024.

Jim Furtado Posted: March 24, 2016 at 08:58 PM | 49 comment(s)
  Beats: stadium deals, stadiums

Friday, January 08, 2016

Kriseman’s proposal would allow Rays to look at possible stadium sites | TBO.com and The Tampa Tribune

Sure it is.

Mayor Rick Kriseman sent the city council another agreement with the Tampa Bay Rays on Thursday in an attempt to determine whether the team stays in the city or leaves.

The new proposal adds a few twists to Kriseman’s original proposal, which would have cost the team up to $24 million to leave Tropicana Field before its lease with the city expires in 2027.

Kriseman called the deal beneficial to “taxpayers, baseball fans, and to those seeking the clarity necessary to invest in our city and our downtown,” on his Facebook page.

Jim Furtado Posted: January 08, 2016 at 12:44 PM | 30 comment(s)
  Beats: stadium deals

 

 

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