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January 16, 2005
Times: NYC sports tab to be $1.1B
Field of Schemes:
The New York Times' Charles Bagli, citing "interviews with public and team officials," has come up with total public price tags for the three sports facilities under discussion in Gotham: $600 million for the Jets stadium slated for Manhattan's West Side, $300 million toward a new Yankees stadium that would replace the House That Ruth Built, and $200 million in subsidies to a Nets arena in Brooklyn - this last "whittled down," according to Bagli, from an initial $450 million demand by Nets owner/developer Bruce Ratner. The grand total: $1.1 billion in taxpayer money, for a city that's already facing a $3 billion budget gap. And it could easily be worse than this, as Bagli leaves out some additional public costs that could send the bill still higher:
Posted by amy at January 16, 2005 10:56 AM