Cleveland. For the love of all that is holy and important. Stop agreeing to pay for all capital repairs for your sports teams. It is costing you SO MUCH MONEY. Your city already has so many financial issues to worry about. Will your local banks go bankrupt? Will your local health centers continue to lose […]
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…
In the last few months, the Milwaukee Brewers have been begging city/state leaders to give them money for ballpark upgrades. The Governor of Wisconsin proposed giving the Brewers almost $300 million in public money in exchange for an additional 13 years being added to the lease. This proposal really means that taxpayers will pay closer to $450 million in renovations over the next 20 years. Several Brewers executives did a PR tour and tried to…
Several days ago, the City of Richmond came to an agreement with the developers of the Richmond Flying Squirrels, a minor league baseball team. For years, the Squirrels have been threatening to relocate unless they were built a brand-new ballpark. When the owner wasn't threatening to leave, Major League Baseball (MLB) would step in and demand upgrades to the ballpark on the taxpayers dime. This year, MLB demanded that Richmond update the ballpark to the…
In 2013, the city of Hillsboro, Oregon, built and paid $15 million in city bonds for the ballpark called Ron Tonkins Field so that their minor league team, the Hillsboro Hops, could have a home field. Now that 10 years have passed, both Major League Baseball and the owners of the Hillsboro Hops believe that the team needs a new home. Last year, MLB called on the city to substantially upgrade the ballpark or else…
So even though this is public land and the parties will be receiving significant taxpayer support, the city of St. Petersburg is denying all interview requests or interviews in general. A big reason for the secrecy is likely due to the hope that the deal can be done as quickly as possible. Out of nowhere several weeks ago, the Tampa Bay Rays owner stated that if a deal wasn't done by the end of 2023,…
CSLI is owned by the New York Yankees and Dallas Cowboys. They are writing reports that they themselves benefit from. Nothing bias about that. But maybe they hit the pavement and did extensive research into the Brewers financial impact. Nah, that is too much work. Their “independent research” got their financial numbers from the Brewers themselves.
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.
Sports teams in Cleveland continue to beg the city for money while their owners make millions and are worth billions. It was just last year that the city of Cleveland gave the Guardians, their MLB baseball team, $138 million for Progressive Field improvements.
