Stadium Deals Newsbeat
Thursday, April 16, 2015
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.
Wednesday, March 18, 2015
Tuesday, March 17, 2015
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.
Monday, March 16, 2015
Friday, December 19, 2014
Thursday, December 18, 2014
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.”
Wednesday, December 10, 2014
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.
Posted: December 10, 2014 at 06:27 AM | 32 comment(s)
Tuesday, December 09, 2014
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.’‘
Monday, December 08, 2014
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?
for his generous support.
You must be logged in to view your Bookmarks.
: OTP - April 2015: Church, baseball, politics: Rahm and Chuy work to close the deal
(2541 - 11:29pm, Apr 17)Last:
The Yankee ClapperNewsblog
: 4-17-2015 OMNICHATTER
(202 - 11:25pm, Apr 17)Last:
boteman asks Where's My Ring?Newsblog
: OT: 2015 NHL Playoff thread
(53 - 11:13pm, Apr 17)
Last: Langer MonkNewsblog
: OT: Monthly NBA Thread - April 2015
(959 - 11:09pm, Apr 17)Last:
The District AttorneyNewsblog
: Derek Jeter says he doesn't miss playing baseball at all and hasn't even watched | FOX Sports
(25 - 10:52pm, Apr 17)
: The Baseballist: Three Reasons Why Adding DH Makes Sense For NL - BaseballAmerica.com
(105 - 10:33pm, Apr 17)Last:
: Giancarlo Stanton becomes Marlins all-time HR leader
(39 - 10:28pm, Apr 17)
Last: simon bedfordNewsblog
: Elite Daily: What if players played for their hometown states?
(18 - 10:25pm, Apr 17)
: U.S. Supreme Court asked to overturn baseball's anti-trust exemption
(17 - 10:13pm, Apr 17)
Last: Steve Parris, Je t'aime Newsblog
: REMEMBERING THE WORST ATTENDED MLB GAME OF ALL-TIME
(39 - 9:49pm, Apr 17)
: Eater: Craft Beer Line-Ups at All 30 MLB Stadiums
(23 - 9:26pm, Apr 17)
Last: Tulo's Fishy Mullet (mrams)Newsblog
: Cubs To Promote Kris Bryant
(85 - 9:18pm, Apr 17)
Last: Dag Nabbit is a cornucopia of errorsNewsblog
: 4-14-15 OMNICHATTER
(110 - 8:40pm, Apr 17)Last:
yo la tengoNewsblog
: Kris Bryant and Floor Versus Ceiling | FanGraphs Baseball
(37 - 6:09pm, Apr 17)
: Happy 50th Houston Astros — formerly 'Colt .45s,' almost 'Stars'
(37 - 5:48pm, Apr 17)
Last: ERROR---Jolly Old St. Nick