"NEW" Yankee staduim = $800 MILLION

[Winston Wolfe]

Check this out - on YAHOO !

http://sports.yahoo.com/mlb/news?slug=ap-yankees-newyankeestadium&prov=ap&type=lgns

Bottom line: They want to spend $800 Mil just so they can increase the number of Luxury boxes from the current 18 to between 50-60 ???

New ballpark will have the same field dimensions, looks and character, but with wider concourses....

What's the friggin' point in all this ? Is it just plain $$$$ :rolleyes:

[dando]

Check this out - on YAHOO !

http://sports.yahoo.com/mlb/news?slug=ap-yankees-newyankeestadium&prov=ap&type=lgns

Bottom line: They want to spend $800 Mil just so they can increase the number of Luxury boxes from the current 18 to between 50-60 ???

New ballpark will have the same field dimensions, looks and character, but with wider concourses....

What's the friggin' point in all this ? Is it just plain $$$$ :rolleyes:
This cr@p really makes me sick. In Ohiya we have school systems that can't pass levies in decades, and need to replace SCHOOLS that are several decades old. Plus, we have a school funding system that was found to be unconstitutional > 5 years ago, and the state legislature still can't agree on a way to fix it. :shakehead

Yet, Cincy and Cleveburg can spend ~$800mm on new ballparks, one of which, GABP, isn't much better than the 30+ year old park it replaced. Now you have the Jets and Yanks trying to get parks that might total $2B. Something is freaking wrong with this picture.

-Kevin

[RacinM3]

Well, here's one reason. The construction of these stadiums puts a lot of money in the pockets of those mommies and daddies that send kids to those schools you write about, from the guy who digs the first hole to the girl who puts the last number on the last new seat.

It's all relative, folks.

[WickerBill]

My biggest beef isn't with the community funding the stadiums via taxes, believe it or not -- its the fact that the extra tax, no matter what, no matter how long the stadium has been built and paid off, stays on the books.

The only exception I can think of is the Coronado Bridge project in San Diego. What a novel concept -- when they paid off the bridge, they stopped charging tolls on it.

I'm still paying an extra 1% sales tax on restaurants here in Indianapolis for the Hoosier Dome, which is 21 years old and was paid off by my taxes in the late 80s. Guess what? Dolts need a new stadium now, so it goes up another 1-2%.....

[Ankf00]

In Houston they're trying to turn highways that have been totally paid off with tax money from certain new neighborhoods on the outskirts of town into toll roads. This is because they've totally mismanaged the budget and have no more highway money (same problem as Ohio and schools although our law was unconst this past year and the leg didn't come up with a new one this past session).

[Easy]

Check this out - on YAHOO !

[url]

What's the friggin' point in all this ? Is it just plain $$$$ :rolleyes:



Yes, it's called professional sports and its a huge business.

[Winston Wolfe]

Well, here's one reason. The construction of these stadiums puts a lot of money in the pockets of those mommies and daddies that send kids to those schools you write about, from the guy who digs the first hole to the girl who puts the last number on the last new seat.

It's all relative, folks.

I guess you gotta read the fine print....

Quote:
"The Yankees and New York City's government agreed several weeks ago to a memorandum of understanding for the new Bronx ballpark. The team will pay for the stadium on its own, and the cost of paying off the bonds used to raise the money will be deducted from the Yankees' locally generated revenue. That will lower the Yankees' revenue sharing payments to the commissioner's office."

Doesnt look like the state\city are really paying for much, except in the form of a tax break, so to speak.

Toll Roads, Mello Roos, etc., are all extra little taxes that we pay here in South OC, in SoCal.... out here with the Coyotes, Mountain lions, rattlers, and the like. Ahhhh, the country life.... aint it grand !

[RacinM3]

The only exception I can think of is the Coronado Bridge project in San Diego. What a novel concept -- when they paid off the bridge, they stopped charging tolls on it.

I believe this was also the case with the Vincent Thomas bridge in Long Beach/San Pedro. It went toll-free a couple years back.

[Andrew Longman]

Points here about funding of stadiums are all right on here, except they don't perfectly apply to NYC.

The Jets are not getting a new stadium, they will bunk with the Giants in a new stadium the Giants are playing for. There was not political support to build a $1B+ stadium on the West Side that would be used for 8 regular season games a year and maybe the Olympics (which everyone knows is going to Paris)

The Yanks are paying for their stadium. The city is paying for infrastucture. The new stadium will look more like the original than it has since the 1976 rennovation, which screwed a lot of things up.

But George wouldn't do it at all except that given the latest revenue sharing agreement MLB and the Union came to, if he doesn't invest in a new stadium he will likely wind up giving much of that money to other teams who will use it to beat him. Goofy rule.

[trauma1]

the small market teams gets hosed because the yanks can take the stadium $$ and apply it to the shareing argreement thus not paying out thier part in the sharing agreement . this staudium crap is a scam, each year build me a new stadium or i'll move, that's how 5 counties around here in Mliwaukee got stuck with Miller. yeah it's nice but what a sweethat deal for the commish Selig, when they say it's for the fans, run!!!!!!!!! it's all about thier $$$$$$$$$$$$

[Andrew Longman]

the small market teams gets hosed because the yanks can take the stadium $$ and apply it to the shareing argreement thus not paying out thier part in the sharing agreement . this staudium crap is a scam, each year build me a new stadium or i'll move, that's how 5 counties around here in Mliwaukee got stuck with Miller. yeah it's nice but what a sweethat deal for the commish Selig, when they say it's for the fans, run!!!!!!!!! it's all about thier $$$$$$$$$$$$

Blame the Yanks if you want, but they are responding rationally to the rules in place. Better to blame Selig, the players union, and too many owners with too little enlightened self interest to set rules that actually are for the good of the sport. Add to that owners who pocket their profits instead of investing it back into the team (or lowering ticket prices) and voters who vote to allow themselves to be blackmailed.

At least NYC has the luxury of not being held hostage. The days of the Dodgers and Giants leaving are over. The Jets can't threaten to go to LA. It simply isn't believable and besides the city is too big and diverse to be dependent on any single sports team.

Folks in Milwaukee don't have that benefit. Except when the Yanks get swept by the Royals, I usually feel sorry for smaller market teams

[trauma1]

they say the guy that owns the LA clippers doesn't have to spend squat but still makes $$$. is this mainly due to revenue sharing and owners pocketing the $$$ and laughing all the way to the bank,??????

[Andrew Longman]

they say the guy that owns the LA clippers doesn't have to spend squat but still makes $$$. is this mainly due to revenue sharing and owners pocketing the $$$ and laughing all the way to the bank,??????

I don't know the Clippers situation specifically but for many teams in many sports that is exactly the case.

The Pirates may never have a 200 million payroll but many teams like them can spend much more than they do. And they can invest much more into winning and promotion, which raises their top line. But for many it is a calculated decision about how much they are willing to invest with X chance for return.

For George it is simply about winning and making enough money to keep winning. His wallet and heart causes him to make many stupid baseball decisions, but he looks at the Yankees as a sport first and a business second. Too many other owners are business people first and fans second (if at all).

Long gone are the days when guys like NYG owner Wellington Mara voted against his self interest to share TV money with places like Green Bay so that "his men" could play against the best competition possible on a level playing field. He looked at his co-owners and really believed that they would spend the money he gave them to put better talent on the field.

[trauma1]

welcome to progress i quess, like i said when ever i here a owner or player say it's for the fans i want to puke, most don't a rip about fans, yet we keep buying tickets. I remember working at the all star game in Milwaukee, the average fan is unable to get tickets to anything like that anymore it's all buisness. what's the old saying ? when i say it's a game they say it's a buisness, when i say it's a buiness they say it's a game :shakehead

[RacinM3]

Allowing Steinbrenner to re-channel his revenue-sharing funds into a new stadium for the Yanks is BS. I can't believe MLB is allowing that to happen.

[trauma1]

like selig is going to do crap, he hasn't the brass ones to say crap to any of the owners, he's been thier lap dog from day one :( the worst commish in history

[Andrew Longman]

Allowing Steinbrenner to re-channel his revenue-sharing funds into a new stadium for the Yanks is BS. I can't believe MLB is allowing that to happen.

If I have this right, you don't have this quite right.

The only real revenue sharing MLB has is their national TV deals with ESPN and Fox, which don't amount to much (its the local cable TV deals that make the most money in baseball and those go to the local teams). After that all they have is the luxury tax for going over a payroll cap.

Together the Yanks and the YES cable network is a cash machine. Think of it this way, he is spending $800million on a stadium because he has that much to spend. If he spent it on salaries, he would only add money to his luxury tax given to the other owners with no guarantee that they will spend it to improve the sport. Or he can pocket it as profit, much of which will be lost as government tax and the rest depreciate unless he invests it.

Or he can build a new stadium that will be an top flight asset for the team and frankly the league for another 87 years. And all those new luxury boxes and other features will surely ensure he keeps getting enough money to stay ahead of everyone else.

George has a good property and he has managed it very well. But he doesn't run the league and so I don't think he can be blamed for how badly it is run. The union and agents really runs things. It lacks leadership and no one has had vision and guts since Giamatti because the owners won't give anybody power over them (as Rozelle and Stern had). Like them some smart bad ass must come in with the compelling business case and skills to show these knuckleheads how much more money they'd make if they truly cooperated.

Next, Hockey

[Sean O'Gorman]

Allowing Steinbrenner to re-channel his revenue-sharing funds into a new stadium for the Yanks is BS. I can't believe MLB is allowing that to happen.

Yeah, it really seems inconsistent with past decisions made by MLB. :D

[Methanolandbrats]

like selig is going to do crap, he hasn't the brass ones to say crap to any of the owners, he's been thier lap dog from day one :( the worst commish in history Not the worst.........Google NHL :D

[dando]

Well, here's one reason. The construction of these stadiums puts a lot of money in the pockets of those mommies and daddies that send kids to those schools you write about, from the guy who digs the first hole to the girl who puts the last number on the last new seat.

It's all relative, folks.
Yeah, in economics it's called the velocity of money. I call it misplaced priorities. The $$$ will be spent regardless, what this wretched excess results in is spiraling co$t$ across the board. Precisely where do you think the $$$ come from when the networks $pend billions on the NFL and MLB broadcasts? Advertisers. Where do the advertisers make their $$$? Consumers. So regardless of whether you attend the events in the new stadium or not, you pay for them and the broadcasts, etc. indirectly. We all do. It's just simple economics....

-Kevin

[dando]

I guess you gotta read the fine print....

Quote:
"The Yankees and New York City's government agreed several weeks ago to a memorandum of understanding for the new Bronx ballpark. The team will pay for the stadium on its own, and the cost of paying off the bonds used to raise the money will be deducted from the Yankees' locally generated revenue. That will lower the Yankees' revenue sharing payments to the commissioner's office."

Doesnt look like the state\city are really paying for much, except in the form of a tax break, so to speak.

Toll Roads, Mello Roos, etc., are all extra little taxes that we pay here in South OC, in SoCal.... out here with the Coyotes, Mountain lions, rattlers, and the like. Ahhhh, the country life.... aint it grand !
WW, guess again...the related costs will be in the infrastructure upgrades, etc. I read an NY Times article where these costs are estimated in the $100s of millions.

The other devil in the details is in how the Yanks get to screw over the MLB luxury tax system. :shakehead

-Kevin

[trauma1]

Not the worst.........Google NHL :D
bettman ranks right there, nice sytem in sports right now,