In comments on the "Opening Day" post earlier, TBLMISBT cited figures from an analysis by the reliable reporters at the Village Voice regarding the cost of the "new" Yankee Stadium.
Smith College Professor of Economics and sports economist Andrew Zimbalist offers some views on public stadium subsidies here:
And here, from 2006:
http://www.baseballprospectus.com/article.php?articleid=4732
BTW: you'll need a sub-prime loan to attend a Yankee game starting next year.
2 comments:
The Minnesota Twins recently secured government funding for a new, open-air stadium. The final price tag for the 42,000-seat facility is estimated to be $522 million, with $392 million of the cost to be covered by taxpayers. The vote was 71-61 in the House and 34-32 in the Senate.
To set in place the needed public contribution, legislative approval was required for an exemption from Minnesota Statute 297A.99, Subdivision 3 (a), which requires that any local sales tax increase be preceded by a voter referendum. Well the exemption flew both the Minnesota house and senate and no vote was afforded to the taxpayers.
Shortly after Minnesota Tim Pawlenty signed the legislation for the $392 million for the new stadium he presented a plan to reduce the state budget by $341million with the majority of cuts to be for health and human services.
(Note: Open air stadium? We just had 8 inches of snow three days prior to opening day.)
TBLMISBT
Isn't Pawlenty on John "100 Year War" McCain's short list for VP? Pohlad, Steinbrenner, and the rest should polish their own palaces. And lower beer prices, too.
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