THE MOTHER OF ALL STADIUM BOONDOGGLES, PART II
Major League Baseball is in a big snit over the Washington, D.C., city council’s decision to stand up for itself (and taxpayers) over the cost of a new sports stadium. MLB wanted D.C. to cough up some $580 million for the deal. Council chair Linda Cropp demanded an amendment that would require $140 million - half the construction cost of the stadium itself, not counting land and infrastructure - to be privately financed, or else the stadium would not be built. “Wholly unacceptable,” pouted MLB exec Bub DuPuy. (Previously blogged on the bogus rationale for taxpayer-funded sports palaces here).
While there is some confusion about what exactly Cropp’s amendment means (the bloggers at Field of Schemes explain here), the council’s willingness to say no–even, partially–is an encouraging little victory for fiscal sanity.
Elsewhere, city officials in Allen, Tx., pulled out of a stadium deal over financing doubts. And Nashville inked a deal for a $43 million minor league baseball stadium* that will be 100 percent privately financed.
Progress, at last.
* Corrected earlier version that stated this was a soccer stadium. On a related note, Tennessee reader Chase Whitaker writes: “I think 100% private financing is a bit of a stretch. The city is giving the team owners use of high profile riverfront land. Plus all sales taxes generated by stadium sales (tickets, souvenirs, concessions, etc.) go directly back into the stadium financing vs. into the city’s general fund for budgetary allocation.”
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