Since Portland passed a law to help bring an MLB team, the Trail Blazers would like some more money for Moda Center
Now, the Portland Trail Blazers would like some of that money. According to OregonLive, the Blazers want an “estimated $20 million per year” to be given to them “from the state’s general fund.” The team claims that this allows them to start a $600 million renovation of the current arena. However, as OregonLive notes, the Blazers' situation is not similar to last year's MLB giveaway. The NBA team's players/staff have already been paying “into the state’s general fund” since 1970. If the Blazers…
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Buffalo is struggling to limit city leaders access to the luxury suites at the Bills new stadium
Last year, the Buffalo Bills beat the Pittsburgh Steelers in an AFC playoff game. The Governor of New York, Kathy Hochul, billed taxpayers for almost $600 worth of wine and a total bill that day of $1923 and change. As the Buffalo News reported, it would eventually come out that taxpayers had paid “more than $6300” for the governor to attend four different games. According to the state and county, this luxury suite is “meant to boost economic development.” I wish someone would explain to me how…
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Barely a decade after the Minnesota Vikings got their new stadium, they want a yearly source of taxpayer money for whatever they desire
All the economic activity promises made by the Minnesota Vikings, when they were negotiating for a new stadium, have been completely incorrect. The mayor of Minneapolis made a public spectacle of how the Vikings new stadium had "encouraged Wells Fargo to relocate 5,000 jobs" near the venue. The relocation of these employees preceded the announcement of the new stadium deal. Therefore, no new jobs were being created from the creation of this new stadium. The Governor of Minnesota, Mark Dayton,…
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The new stadium for Buffalo’s new USL soccer team was promised to cost $15 million and built entirely with private funds
Several days ago, Marlette spoke to the Buffalo Common Council’s Community Development Committee and again stated how excited they were to start soccer. He also reminded the city that he wants to see the new USL team playing during the 2026 season. But what really surprised me was when Marlette told the commission with a straight face that “there is a time crunch”. Time crunch? The city and state are waiting for the team to tell them basic things, and yet the team says there is a rush to this?…
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Minnesota Vikings new stadium being debt free is irrelevant to whether it is an actual good financial asset
That is quite remarkable. I mean, in 2012, both the city of Minneapolis and the state of Minnesota kicked in over $500 million in taxpayer money to build this new stadium. Why is this suddenly happening? Essentially, gambling has taken off in Minnesota and their stadium reserve fund has gone astronomically higher than anyone thought it would be at thanks to a tax on electronic pulltabs.
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