The Las Vegas Review-Journal went after these teachers for their political action committee. According to the newspaper, the teachers are simply “blinded by its misguided opposition”. I was interested to see what the newspaper would say as to why the teachers were wrong. Instead, the Las Vegas Review-Journal uses the same arguments that have been disproven numerous times.
Last week, Michael Jordan decided to cash out as majority owner of the Charlotte Hornets. The new owners will have an upgraded arena thanks to the city council, last week, voting to spend $215 million dollars in taxpayer money for Spectrum Center upgrades. For these upgrades, the team extended its lease until 2045. Included in this deal is not just arena upgrades. The new agreement includes plans to build a $60 million dollar practice facility.
Why exactly is the city of Raleigh even entertaining the team if they want more money in the near future? The team pays $0 per year in rent yet collects 100% of revenue from “concessions, gameday advertising, television rights, parking and luxury and club suites”. Moreover, keep in mind that the team already gets $4.335 million per year to “offset arena operating expenses”. Doesn't the city do that anyway?
South Carolina House member John Ray Bradford stated that by keeping certain hospitality taxes in place until 2060, people should be happy because they are “not increasing any taxes”. Except, without this extension, locals would have paid less at hotels, bars, restaurants, etc… in the future. He also claimed that the city would have more confidence going to banks with more taxpayer money? Or something. My confidence is always sky-high whenever I see my “local hospitality lobbyists” being the ones who are dictating city/state policy for stadium funds.
Keep in mind that Winston-Salem gave the Dash $15.7 million in taxpayer money to build the ballpark. Then, when the construction company had money issues themselves, the city gave an additional $12 million.