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April 12, 2006
Taxpayers shouldn't pay for stadiums
NY Newsday columnist Raymond Keating outlines the lucrative deals that our state and local governments are cutting with sports teams for the privilege of building them new stadiums.
Keating gets into details about the financing of the Yankees, Mets, and Islanders deals, but leaves out the Nets, though back in March, 2004 he wrote:
"Hold onto your wallets; it gets worse. The Nets' new owner, developer Bruce Ratner, also is looking for handouts, including related infrastructure costs, the donation of air rights to build over the Long Island Rail Road yards in the borough, and special tax breaks to pay for the project. The Nets arena tab for the taxpayers could reach $1 billion."
Posted by lumi at April 12, 2006 8:51 AM