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Wednesday, September 30, 2020

Anaheim City Council approves $150-million cash stadium sale to Angels owner

The Anaheim City Council voted early Wednesday to approve a revised deal with Angels owner Arte Moreno, selling Angel Stadium and the surrounding land for $150 million in cash in return for the team’s commitment to stay in Anaheim through 2050.

The council had voted last December to sell the 150-acre site to Moreno’s company, SRB Management, for $325 million. The city this month proposed to credit SRB for $170 million of that price, with the company agreeing to build almost 500 units of affordable housing and a seven-acre park within the community that will rise from the stadium parking lots.

After almost eight hours of debate — and after 1:30 a.m. Wednesday — the council approved the revised deal on a 5-2 vote, with council members Jose Moreno and Denise Barnes opposed. The council must take a second vote next week to finalize the deal, although that is considered a formality.

“This is a spectacular day for Anaheim,” Councilman Stephen Faessel said.

RoyalsRetro (AG#1F) Posted: September 30, 2020 at 09:57 AM | 16 comment(s) Login to Bookmark
  Tags: angels

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   1. Los Angeles El Hombre of Anaheim Posted: September 30, 2020 at 02:26 PM (#5979814)
Remember when it was supposed to be a $325 million stadium deal, before the city of Anaheim got screwed out of over $150 million? Pepperidge Farm remembers.
   2. Starring Bradley Scotchman as RMc Posted: September 30, 2020 at 04:19 PM (#5979901)
Won't this look bad when MLB gets shut down for good in 2023?
   3. The Yankee Clapper Posted: September 30, 2020 at 04:30 PM (#5979918)
No retractable dome, no climate-controlled comfort - it’s already obsolete. Anaheim is lucky Arte Moreno is around to again overpay on a long-term deal for an aging, immobile baseball commodity.
   4. The Gary DiSarcina Fan Club (JAHV) Posted: September 30, 2020 at 04:47 PM (#5979930)
No retractable dome, no climate-controlled comfort - it’s already obsolete. Anaheim is lucky Arte Moreno is around to again overpay on a long-term deal for an aging, immobile baseball commodity.


I'm not sure if you're being sarcastic or not, but I love Angel Stadium. And other than a week or two in the summer when it gets pretty hot, the weather does not require a dome. I would be really, really angry if the Angels moved to a domed stadium.
   5. Ziggy: social distancing since 1980 Posted: September 30, 2020 at 04:58 PM (#5979941)
Cities should just let teams go.

My plan for a long time has been for every locality that has a team pay into a pool to be distributed to every viable locality that doesn't have a team, in exchange for them not doing anything to attract a team (and not approving any re-zoning a team that looks to move might request, or any upgrades to sewers and the like, in general, making it hard for teams to relocate). That way at least the money stays in public coffers (even if not the original coffers). No doubt there are a million reasons this wouldn't work, but there's got to be some sort of collective action that can be taken to prevent money from being given to teams.
   6. Howie Menckel Posted: September 30, 2020 at 05:16 PM (#5979953)
A Rams executive told a story a few years back about how St. Louis was desperate to get that NFL team to move there.

The Rams brass was debating what percentage of stadium construction costs they could convince the city to pay.

This exec says he told his colleagues, "How about 100 percent? The worst that can happen is they say no."

[NARRATOR: St. Louis did not say no.]

The flip side is the Giants and Jets expecting Jersey taxpayers to foot the bill for a new stadium a decade ago. The Meadowlands Sports Complex boss basically said, "Where are you going to go - to a bigger market elsewhere in the US? You think NYC is going to get a stadium built? Go pound sand."

Said boss called the Jets' Woody Johnson and Giants' John Mara "pigskin princes."

[NARRATOR: The teams paid to build the stadium.]
   7. Pat Rapper's Delight (as quoted on MLB Network) Posted: September 30, 2020 at 05:57 PM (#5979964)
No doubt there are a million reasons this wouldn't work

Reason #1 being when a bunch of jock sniffers get elected to public office (like has happened where I currently live), they CAN NOT WAIT to throw millions of dollars of public money at ANY AND EVERY vanity project that comes down the pike in the name of OMG TEH SPORTZ (Soccer Hall of Fame? Check! PGA Headquarters? Check! NFL Team HQ? Check! NHL Team HQ? Check! FCS Conference HQ? Check! NBA G-League? Check! MLS? Check! AA Baseball? Check! Lowest rated of the bottom-tier ESPN Bowl games? Check! 1-AA football championship? Check!) for the glory of a photo op handing a ceremonial big check to a smiling billionaire sports team owner.
   8. Walt Davis Posted: September 30, 2020 at 06:42 PM (#5979974)
#6 ... yet the LA Rams were happy to leave the 2nd biggest market (arguably the biggest since they had LA to themselves at the time). That's the thing about the NFL's finanical structure -- the local market doesn't matter very much. That's why a league can survive with a team in GB and none in LA.

Probably the closest MLB has come to moves such as LA -- StL, Hou -- Nashville, LA -- Oak was when the Giants almost moved to Tampa which, if memory serves, would have been in exchange for a free stadium ... and I suppose possibly the Giants moving to SF to begin with.

While it's declining in importance, the local market is still a very big deal in MLB.

As to this deal, if the housing and park are really worth $170 M to the city, the deal seems fine (i.e. relative to the agreed $325 M). But it is easy to inflate the cost of a park and easy to build "affordable housing" that isn't affordable, so I suspect Anaheim comes out on the short end of this one.

In Australia at the moment, one of our current scandals is land around the planned Western Sydney airport ... valued at $3 M, the government decided to buy it for $30 M and it's purely coincidence that the land is owned by major donors to the PM's party and that some of the folks who made the decision may have had a stake in the land too.
   9. Ziggy: social distancing since 1980 Posted: September 30, 2020 at 07:41 PM (#5979985)
valued at $3 M, the government decided to buy it for $30 M and it's purely coincidence that the land is owned by major donors to the PM's party and that some of the folks who made the decision may have had a stake in the land too.


Wow. Isn't that the sort of thing that you go to prison for?

Re: 7. Here's my thought on that one. It's harder to get someone to give up something than to get them to forego something of equal value. (The endowment effect - familiar to anyone who has tried to work out a trade in a fantasy sports league.) When the city agrees to spend tax money on a stadium they're foregoing what could have been (but hasn't been yet!) bought with that money. But if they're getting money from the pot, and they lure a sports team in anyway, then they have to take away, e.g., the pre-school programs that that money is already paying for. So I'd hoped that it would be more politically painful to do that than to just decide to give money to team owners rather than start pre-school programs.

I was really worried about things like, there are a zillion "localities" that would need to get involved. Not even just the viable cities. I mean, Cobb County stole a team from ####### Atlanta. You'd need to get cities in on it, and the counties they're located in, and all of the suburbs that could plausibly come up with the cash for a stadium (eg Anaheim). And then there are probably god knows what legal rules involving interstate compacts or something.

But maybe I'm being overly optimistic about the strength of local politicians' desire to hobnob with team owners.
   10. dave h Posted: September 30, 2020 at 11:35 PM (#5980095)
In Australia at the moment, one of our current scandals is land around the planned Western Sydney airport ... valued at $3 M, the government decided to buy it for $30 M and it's purely coincidence that the land is owned by major donors to the PM's party and that some of the folks who made the decision may have had a stake in the land too.


Tell him he's dreamin...I bet there isn't even any serenity.
   11. cardsfanboy Posted: September 30, 2020 at 11:44 PM (#5980100)
A Rams executive told a story a few years back about how St. Louis was desperate to get that NFL team to move there.

The Rams brass was debating what percentage of stadium construction costs they could convince the city to pay.

This exec says he told his colleagues, "How about 100 percent? The worst that can happen is they say no."


The thing is that Georgia Frontiere was the owner then, and there was a good faith concept that she wanted the team in there so there was a strong back and forth between the community and the team... when Kroenke took over.... well he Trumped everything up while looking for a bigger piece of the pie and not caring about anything other than the dollar in his pockets.
   12. What did Billy Ripken have against ElRoy Face? Posted: September 30, 2020 at 11:54 PM (#5980103)
In Australia at the moment, one of our current scandals is land around the planned Western Sydney airport ... valued at $3 M, the government decided to buy it for $30 M and it's purely coincidence that the land is owned by major donors to the PM's party and that some of the folks who made the decision may have had a stake in the land too.
That’s a scandal? How...quaint. (pats Australia on the head)
   13. Starring Bradley Scotchman as RMc Posted: October 01, 2020 at 11:12 AM (#5980190)
Isn't that the sort of thing that you go to prison for?


Well, technically Australia is already a prison...
   14. Ziggy: social distancing since 1980 Posted: October 01, 2020 at 12:35 PM (#5980204)
The other shocking thing about that is how little the airport land costs in Sydney. I was visiting at Sydney Uni for a while, and while I was there I lived with a law professor at UNSW. We were renting a house in Darlington, and he was complaining that he couldn't afford to actually buy a house of his own. Three million for enough land to put an airport on in Sydney sounds crazy.
   15. Rally Posted: October 01, 2020 at 01:07 PM (#5980217)
So 500 units of affordable housing near a ballpark. What passes for affordable in that area? 750k?

Its affordable to somebody.
   16. Los Angeles El Hombre of Anaheim Posted: October 01, 2020 at 06:33 PM (#5980349)
People should remember that all of the numbers being bandied around in this conversation come from a study commissioned by Arte Moreno's land group. The Anaheim City Council declined to do their own study.

Head on pikes, people. Head on pikes.

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