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Friday, April 13, 2018

DRays Bay: Montreal Expos ownership group positioned for MLB relocation

The recent exhibition games played in Montreal have significantly re-ignited the talk of baseball in that City and Province, to the point where prospective owners have been forced to respond to endless questions about when and how - not if - the Expos will return to Montreal.

. . .

But the latest few questions answered by Mitch Garner, who has a stake in Cirque du Soleil and is set to make an ownership bid along with fellow Billionaire Stephen Bronfman, is what has raised eyebrows and completely changed the course of how MLB may wind up returning to Montreal.

This article describes and analyzes the plan of Garner and Bronfman to privately fund a new stadium. I think MLB is using Montreal as a bargaining chip, like it used Washington for so long. But if a team moves, I would strongly prefer it to be the Rays, for sentimental as well as historical reasons. The author thinks that the franchise would change its name if it moved to Montreal. Could an original AL team really let go of that much historical capital?

Dr. Vaux Posted: April 13, 2018 at 02:43 PM | 32 comment(s)
  Beats: business, expos, rays, relocation, stadium financing

Thursday, November 02, 2017

Bloomberg: Republicans Push to End Muni Bond Sales by Businesses, Stadiums

Neil deMause, to the courtesy phone…

Congressional Republicans proposed barring the sale of municipal bonds for professional sports stadiums and privately run infrastructure projects such as toll roads and airports, a step that’s at odds with President Donald Trump’s push to increase funding for public works.

The tax-cutting bill released Thursday would also eliminate advanced refundings of debt issues, a popular refinancing technique with state and local governments, as well as bonds backed by federal tax credits. If enacted, the proposals would cut the amount of municipal debt sold each year by billions of dollars and potentially boost demand for the bonds.

“If you reduce the supply of municipal securities that would make them generally more valuable,” said Rob Amodeo, head of municipal debt for Western Asset Management. “But if you look at the idea that munis are going to act as a cornerstone for financing U.S. infrastructure, some of the provisions in this tax plan may challenge that a bit.”

The rollback to so-called private-activity bonds would increase costs for companies that finance public works by borrowing billions each year in the municipal securities market, where interest rates are lower. Ending the program would would increase revenue by about $39 billion through 2027, according to Congressional estimates.

Stormy JE Posted: November 02, 2017 at 03:34 PM | 2 comment(s)
  Beats: congress, donald trump, republicans, stadium financing, stadiums, taxpayers

 

 

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