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November 1, 2007
Home Field Disadvantage
The Wonkster
You'd think a sports franchise would pay for the privilege of making NY City its home, but not in Bloomberg's New York:
"...in New York City, taxpayers are being forced to shoulder the burdens of new stadiums to subsidize the multimillionaire owners and players of the Yankees and Mets. The Yankee stadium project alone will receive taxpayer subsidies of nearly $800 million, according to Good Jobs New York, a critic of the project.”
If taxpayer subsidies really are the 21st century version of the Curse of the Bambino, things do not for New York sports fans. The Mets, who just experienced probably the worst late season collapse in baseball history, are getting subsidies for their new stadium. Madison Square Garden, home of the Knicks (this explains everything), also gets break on property taxes, according to the Sun. And the future home of the NBA Nets in Atlantic Yards will also benefit from the largesse of the city and state government.
NoLandGrab: Seriously, we'd love to see one, just one team actually make good on the threat to pull up stakes and take an instant hit to the value of the franchise. The Nashville Yankees, the Moblie Mets, San Diego Knickerbockers?? Puh-leeze!
We are witnessing some of the worst kind of corporate welfare, gratis a Bloomberg.
Posted by lumi at November 1, 2007 5:02 AM