Tag: California

Stadium

The Super Bowl continues to suck cities in with false promises of economic glory

Why are cities not making more money off this big event? Because they are paying millions upon millions in expenses mandated by the NFL. In 2016, local taxpayers in San Francisco paid the bill for hosting the Super Bowl and its many off-field festivities. The NFL, a multi-billion dollar company, pays nothing, let me repeat that, nothing during Super Bowl weeks because of a deal between the city and the NFL Host Committee. If you…

William Neilson Jr.
Arena

Sacramento Kings arena is losing money. MLS keeps turning down city expansion efforts. Mayor thinks more sports teams would help

Did we mention that San Diego, the city who did win the expansion team, paid a $500 million expansion fee? That is three times what their proposed stadium was supposed to cost. Yikes. The mayor also seems to enjoy telling the public how much he is doing behind the scenes. He can't just tell us because...he can't. He told the Sacramento Bee that when it comes to whether Sacramento will get an MLS team, the…

William Neilson Jr.
Arena

The Sacramento Kings arena has revenue questions both for today and in the future

Sacramento's debt manager recently announced that at the end of 2024, a city assessment will need to be done to figure out how the city will pay off the arena's bond debt. The city may be forced to dip into their general fund to pay off the bonds that are due. Similar to what the city had to do in 2021-2022 when arena revenues were again down to a point where the revenues did not…

William Neilson Jr.
Ballpark

Anaheim Angels continue to violate their lease. Oh well, maybe next year

The facts, however, show otherwise. Since 2002, the Anaheim Angels have spent $54 million on capital repairs/improvements with $12 million coming from the city. Additionally, a number of the so-called improvement projects were just upgrades that the team wanted, such as replacing their scoreboard to a newer model. Building permits show that the Angels were spending money from their pockets so that they could buy the cool, new gadget and not the contractually obligated maintenance.

William Neilson Jr.
Ballpark

Las Vegas, be careful with Oakland A’s owner, John Fisher because he will NOT SPEND MONEY

The A's are trying to get at least $500 million in taxpayer money for the new ballpark. As the Independent points out, that alone is slightly lower than the total amount that the city of Las Vegas brings in YEARLY from gaming taxes. The Oakland A’s believe that they are worth this money because they will bring in “400,000 new tourists to Las Vegas”. This is crazy. The A's would not bring in anywhere near…

William Neilson Jr.
Arena Stadium

Teams continue to make millions yet want their property taxes slashed

The city assessed the property value where the arena was built along with surrounding developments at $1.7 billion for tax purposes. The Warriors are asking the city to lower that assessment by just a little.....a billion dollars, that is. The Warriors believe the property value is at $706 million for 2022, which is $1 billion less than the city's value and would save the team over $11 million in property taxes for 2022.

William Neilson Jr.